What is the Dusk Network?
Dusk is a blockchain-powered network that simultaneously guarantees transaction confidentiality and aspects of regulatory compliance on chain. Dusk is designed for a restricted set of focused use cases ranging from issuance of Confidential Security Token up to decentralized Darkpool implementation and secure communications. The consensus mechanism called SBA* is designed to be the bridge between privacy, and transparency for regulators.
Where can I find details on the overall Dusk token sale?
For detailed information on the structure of the overall Dusk fundraise, please see the Dusk website, the Dusk Telegram group and this article.
The below information it accurate to the best of our knowledge.
- One funding round, with no bonuses for anyone.
- The total maximum cap for the entire round is $14.4m for 50% of the total token supply.
- The Dusk team has a 12 month lockup period, with a 12 month vesting period thereafter.
- Dusk confirms that the 50% of Dusk’s total token supply that is not being sold in this sale is subjected to a 6-month lockup following the end of this sale, and is then subsequently subject to a 12-month linear vesting schedule. Of the 50% unsold tokens, approximately 6% are for the team and approximately 6% are for advisors.
- Previous investors: Second-by-second linear vesting schedule starting on 1st December. This is applicable to approximately $US 12-13 million of the sale.
- Advisors: A six-month lockup starting at the end of the round, with a 12 month vesting period.
What is the hard cap of the Ethfinex sale?
Dusk have made approximately $1m of tokens available to Ethfinex users. Ethfinex may be able to secure a slightly higher allocation for users if there is substantial interest.
What is the individual ETH contribution min/max I can contribute?
The individual allocation will be fixed at approximately $5k in ETH. No partial contribution, or higher contributions are permitted.
The individual amount of ETH will be set at the beginning of the draw period, but may change if the price of ETH/USD varies greatly during the two week draw entry period.
The ETH amount will not change once the three day contribution period begins.
What is the price of Dusk tokens?
DUSK is pegged to USD. Each DUSK token is priced at $0.0576
How does the Ethfinex token sale random draw process work?
Ethfinex has decided to run the token sales contribution process as a random draw as opposed to any other mechanism (e.g. fastest finger first) as we think this is one of the fairest ways to run a token sale. All Ethfinex users have a chance to enter the draw, instead of favouring those with a more advanced technical knowledge, or those who can be in the right place at the right time.
For a detailed overview of the contribution process, see the Ethfinex Token Sales - FAQ
What are the key dates for the DUSK token sale on Ethfinex?
- 25th October. Draw entry period opens:
- Users enter draw and complete initial Dusk KYC requirements through the BlockPass app (via the QR code)
- 17th November. First set of draw winners picked and first 48-hour ETH contribution period starts
- 19th November. Second set of draw winners picked and second 48-hour ETH contribution period starts. First round winner’s contribution period closes.
- 19th November. Winning user’s KYC and AML data sent to Dusk for final accept/rejection
- Vesting starting from December 1st. Please see a more detailed explanation of the vesting process towards the bottom of this post
- December: Tokens unlocked and ready for trading
6th November 2018 Update
In order to give users more time to complete BlockPass KYC, the first round of winners will now be picked on Wednesday 14th November at 2pm UTC.
Any user who successfully passed KYC by the 6th November 1am UTC is guaranteed a place in the draw. You can confirm that you have fully passed KYC by checking your BlockPass app:
14th November 2018 Update
The contribution phase of the Ethfinex Dusk token sale will start on the morning of Friday 16th November UTC.
17th November 2018 Update
Because the drawing has fallen on a weekend, we are switching to two 48 hour contribution periods instead of the previous three 24 hour contribution periods. Please check your winning status on your the Dusk token sale page on Ethfinex.
What is the Ethfinex Nectar (NEC) token?
Nectar (NEC) tokens are given to verified traders who provide liquidity on Ethfinex (executed limit orders). They can be traded in the NEC/USD, NEC/ETH and NEC/BTC markets on Ethfinex, can be thought of as a rebate on trading fees, are used to vote on platform governance issues and a whole host of other benefits. They also mint free EVT tokens every two weeks which can be used to vote new tokens onto the platform.
Learn more on nectar.community.
What is the Ethfinex Superuser Program?
The Ethfinex Superuser program is aimed at rewarding Ethfinex community members. Superuser levels are determined by the amount of NEC tokens that a user holders and entitles the user to a range of benefits. We will be phasing in more benefits over the coming months, but initially Superusers are given the opportunity to enter Ethfinex tokens sale ballots more than once.
You can check your Superuser level in your account section on Ethfinex here.
Can I buy more NEC to raise my Superuser level?
Yes. For example, if you are currently at level 0 with 1 draw opportunity, you can buy more NEC and get to higher level.
When is the cut off time to raise Superuser level?
You can raise your Superuser level prior to Stage 3, which is right before the first draw begins.
Can I contribute more than the max individual cap on Ethfinex?
Please email email@example.com if you can offer a strategic investment of over 100 ETH minimum cap.
Contributing to the token sale on Ethfinex does not exclude you from the Dusk private sale, and vice versa.
If I win the draw, am I obliged to contribute ETH to the token sale?
No. You are not obliged in any way to transfer your ETH if you win the draw.
How will I know if I have won the draw?
All token sale entrants will be able to check their status (win/not win) in section four of the token sale process and will be prompted to check on the Ethfinex telegram group.
If I win the draw, how long do I have to transfer my ETH to Ethfinex?
From the time you are selected as a draw winner, you have 24 hours to transfer your ETH from your exchange wallet to the Ethfinex holding account via the contribution button that will appear.
Why do I have to pass KYC and what is the KYC submission deadline?
All users entering the draw must pass BlockPassKYC using the QR code provided on the token sale page.
If you contribute ETH to the token sale, Ethfinex will pass your details to Dusk for final KYC approval before issuing tokens
When will I receive my Dusk tokens?
Dusk tokens will be credited to your Ethfinex exchange wallets on a monthly basis from December onwards. Please see the updated announcement post for more details:
When will Dusk tokens be unlocked and available for trading?
We anticipate that Dusk tokens will be unlocked and ready for trading before the end of the year.
Where can I find out more information about Dusk?
Dusk Network Sale Update: https://medium.com/dusk-network/dusk-network-sale-update-6bcbeeef0b1f
Dusk token sale exclusions
Users from the following countries will not be able to participate in the Dusk token sale:
Canada, Democratic People's Republic of Korea (DPRK, North Korea), Ethiopia, Iran, Iraq, Serbia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, United States of America (USA), Vanuatu or Yemen.
Where can I find additional support if I have more questions?
For questions on the DUSK network, please use the DUSK Telegram Group.
The offering of tokens for sale does not constitute an endorsement or recommendation of those tokens. You should always do your own research and seek your own legal and financial advice before any participation.