This document outlines how the SwiftDemand token sale will function. Please make sure that before doing the token sale you have fully read this document as well as the token sale agreement.
Please note that U.S., Chinese, and Singapore citizens as well as all people from sanctioned countries are not eligible to participate in the token sale due to regulatory restrictions.
The SwiftDemand token sale is split up into two stages. The first stage is a dutch auction which is used to fairly decide the price of Swifts and allow people to reserve the amount of Swifts they want to purchase in the token sale. The second stage will occur where users will have their KYC documents processed and then be allowed to purchase Swifts once all information has been fully verified.
Step 1 — Registration (Skip if already registered)
Sign up for SwiftDemand
Verify your account
Step 2 — KYC Application
Fill out the entire KYC form
Upload your documents including government ID and face photos
Check that all information is correct then submit the form
Step 3 — Early Bidding
The dutch auction will formally begin on April 8th at 18:00 UTC and will end when all tokens have been purchased or the minimum price has been reached.
You may at this point choose to enter an early bid or wait to see how the auction progresses and only bid during the dutch auction.
Please note: ALL SUCCESSFUL BIDS WILL RECEIVE THE MAXIMUM AMOUNT OF SWIFTS BASED ON THE LAST SUCCESSFUL BID
Enter the amount of Ethereum you wish to use to use to buy Swifts.
Warning: Your bid must be in an increment of 0.1 with a MAX of 30.0 ETH
Warning: A bid is a legal obligation to purchase Swifts at the reserved price.
Buy Swifts at the whatever the ending sale price is.
Make a customized bid that only activates once the sale price has reached your required ETH per Swifts ratio.
Step 4 — Dutch Auction
On April 8th 18:00 UTC the dutch auction will begin.
THIS AUCTION IS ONLY TO DETERMINE THE PRICE. SUCCESSFUL BIDS DO NOT GUARANTEE YOU WILL BE ABLE TO PURCHASE SWIFTS.
The starting price for the auction will be:
1 ETH = 5,000 SFT
Every 10 minutes the amount of Swifts per ETH will increase by 10% e.g.
- Auction Start: 1 ETH = 5,000 SFT
- 10 minutes after start: 1 ETH = 5,500 SFT
- 20 minutes after start: 1 ETH = 6,050 SFT
This pattern will repeat until all 200,000,000 have been purchased OR the price of 1 ETH = 1,000,000 SFT has been reached. At this point the price of SFTs will be locked in.
The above image is only an example
- Your Commitment — The amount of ETH you have pledged to commit (will only show if your bid has filled).
- Swifts — The amount of Swifts you will receive for the committed ETH based on the current price (will only show if your bid has filled).
- Next Price — The amount of time until the Current Price increase by 10% (Increases occur once every 10 minutes after the first increase)
- Current Price — The current amount of Swifts per ETH that is needed to have your bid filled.
- Next Price — The next Current Price.
- Your Bid — The amount of ETH you pledge to commit IF the price reaches the amount specified in your commitment.
- SFT Per ETH Bid — The price you have specified at which your pledge can be filled.
- Bid Status — The current status of your bid. This will be FILLED when Current Price passes your SFT Per ETH Bid.
- All Commitments — The total amount of ETH committed at the Current Price.
- Tokens Reserved — The total amount of Swifts reserved based on total ETH committed and Current Price.
Remember that all bids will receive the best bid price. This means:
- You bid 5 ETH at the price 1 ETH = 5,000 SFT
- The auction ends at 1 ETH = 20,000 SFT
- You will receive 100,000 SFT NOT 25,000 SFT
You can track the status of the auction on https://www.swiftdemand.com/tokensale
Step 5 — Application Processing & Payment
All successful bidders will have their documents run through the KYC and AML process and checked thoroughly.
Bidders who have their information verified successfully will then have their Ethereum public key and bid amount white listed. After this process has been completed you will have (3) days to pay for your Swifts which will be found at https://www.swiftdemand.com/tokensale .
THE ETHEREUM ADDRESS WILL ONLY BE AVAILABLE AT HTTPS://WWW.SWIFTDEMAND.COM/TOKENSALE
- WE WILL NOT EMAIL YOU THE ADDRESS. IF YOU RECEIVE AN EMAIL WITH AN ADDRESS, IT IS A SCAM
- WE WILL NOT POST THE ADDRESS ON TWITTER, FACEBOOK, TELEGRAM, OR ANY OTHER SOCIAL MEDIA PLATFORM.
- WE WILL NOT DIRECTLY CONTACT YOU IN ANY WAY WITH THE ADDRESS.
- IF YOU SEE AN ADDRESS NOT ON HTTPS://WWW.SWIFTDEMAND.COM/TOKENSALE THERE IS A 100% CHANCE THAT IT IS A SCAM
Step 6 — Token Distribution
Within (30) days of the sale being completed Swifts will be delivered to the Swift Address associated with your account. Please note that this is not an ERC-20 token. Swifts will exist on an entirely separate blockchain and you will be responsible for managing your funds.
No explicit action is required to receive your Swifts.
Christopher Gregorio, Founder & CEO of SwiftDemand https://twitter.com/zaguios