The text below is a copy of original QuarkChain message.
Thank you all for your interests in QuarkChain and your patience with our team . We have been working hard to ensure a smooth and FAIR ICO process throughout the coming weeks. During the entire process, we will be actively updating our announcements and future details.
Note:
There is and will be NO “Pre-sale”. All mentionings of “Pre-sale” are likely a
misuse of “Private sale”. Be aware of scammers.
We will NOT cancel public sale.
We will NOT run a dutch auction. We will NOT promote unnecessary social media
Proof of Care competition. We will NOT encourage a gas war situation.
Token Sale
Total supply: 10b QKC
Token distribution
20% token sale — lockup for private sale, no lock up for public sale
15% Team — lockup to 2 years
15% Foundation — lockup to 2 years
5% advisor — lockup to 2 years
45% mining, community and marketing (mining prone to minor future inflation
possibly)
All lock-ups are programmed into smart contracts.
Whitelisting and KYC timeline
The KYC process will start next Monday 2018/05/07 00:00:01 am PST time and will
last for for ~2 weeks (wait for more details about how to participate). You have to
join either English telegram group or Chinese telegram group to be able to
participate the KYC.
ICO Public sale date: TBD. This depends on our whitelist/KYC speed. Projected date is still late May/ Early June
Due to the growing interest in our project and limited token supply during the Public Sale, we will be using a probabilistic approach to be as FAIR as mathematically
possible.
There are three main aspects we will take into consideration in particular ( detailed of calculation method will be shared later )
Timestamp of Telegram join
Cut off time is 2018/05/05 11:59:59 PM PST; the earlier you join, the higher the score you will get for this section, anytime after 05/05 11:59:59 pm PST will not be considered as earlier supporters.
Your understanding of the product
Your contribution to the project
Although we appreciate our community following us on Medium, Twitter, Reddit and other platforms, we do NOT promote unnecessary social media Proof of Care competition.
Personal Cap
We will be using a bottom-up tier style to be as FAIR as possible and ensure
everyone who got whitelisted is able to contribute.
Depending on our whitelist/KYC speed, we will peg ETH price on a certain date. That will give us a rough number of ETH to be collected.
Then we will conduct the process as follows:
2For example: 8000ETH with 2000 whitelisted participants.
First 12 hours: max contribution x ETH, where x = 8000/4/2000 = 1
next 8 hours: max contribution 2x ETH
next 4 hours: max contribution 4x ETH
next 2 hours: max contribution 8x ETH
next 1 hours: max contribution 16x ETH
… until fill
This ensures our Public Sale will last at least 24+ hours, in order to accomodate investors from all time zones.
