What is Rigoblock?
The traditional asset management industry is characterized by high fees and opaque management decisions. Rigoblock brings accountability and transparency to digital asset management. Deployed on the Ethereum mainnet, the Rigoblock protocol is a series of smart contracts that allow anyone to create, manage and contribute to decentralised token pools, called Dragos, building up a proven track record of their fund management skills for everyone to see.
Instead of fees being charged to contributors, token pool operators are rewarded via a novel proof-of-performance mechanism that distributes GRG tokens, created via inflation, to positive performing funds.
Rigoblock and Ethfinex Trustless
You can now create, contribute to and manage a Rigoblock decentralized token pool directly from Ethfinex Trustless.
What is the GRG Token?
GRG tokens are at the heart of the Rigoblock platform. Token pool operators are required to hold a certain level of GRG tokens in order to run their Drago and be eligible for a share of the GRG rewards via the proof-of-performance algorithm. Token holders also vote on key aspects of the Rigoblock protocol such as setting inflation rates and the level of GRG tokens that are needed to be held by operators.
1 GRG is required to access the frontend, and then a minimum amount of GRG, set by token holders, is required to participate in the incentives.
What GRG Airdrops are available to Ethfinex users?
There are two GRG airdrops available to Ethfinex users so that you can test the Rigoblock platform and try creating and managing Dragos before the end of the public GRG token sale
- NEC holders will receive 1 GRG token to their whitelisted private wallet. In order to whitelist, you need to verify your Ethfinex account and follow the instructions under the 'Withdrawal Whitelist' section here
- Users who successfully complete BlockPass KYC for the Rigoblock token sale on Ethfinex will receive 1 GRG to their private wallet. Rigoblock will contact you via email after you have passed KYC in order to ask if you would like to receive the airdrop.
Where can I find details on the entire Rigoblock token sale?
RigoBlock’s total hard cap for the ICO sale, both public and private, is set at $10m USD (5555 ETH pegged at $180/ETH) for 30% of GRG tokens from the total token supply. In total 3,000,000 GRG tokens are available in the sale.
The remaining GRG tokens will be distributed via RigoBlock’s Proof of Performance incentives mechanism.
TokenMarket is running the main public sale where GRG Tokens are priced at 0.0185659 ETH per GRG.
For more information on the TokenMarket public sale, see the TokenMarket website.
How many contribution rounds will there be?
There will be two 48 hour rounds contribution windows.
For the first 48 hour contribution round there will be 100 winners picked. Because of the variable individual contribution limit, the hard cap may be hit before all 100 winners are able to contribute.
If there is any remaining allocation after the first 48 hour contribution window, then this will be opened up to a further 100 ballot winners.
What is the hard cap of the Ethfinex sale?
124,700 (one hundred twenty-four thousand and seven hundred) GRG tokens have been made available to Ethfinex users at a pegged ETH/USD rate of $180.
What is the individual ETH contribution min/max I can contribute?
Between 10 and 100 ETH.
What is the price of the GRG tokens?
The GRG tokens made available in the Ethfinex token sale are priced at 0.01764 ETH per GRG. This is a 5% discount to the TokenMarket public sale.
The ETH/USD rate has been pegged for both the TokenMarket and the Ethfinex sale at $180
How does the Ethfinex 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 consider this as 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
- 18th December. Ballot entry period opens:
- Users enter ballot and complete initial Rigoblock KYC requirements via the BlockPass app (using the QR code)
- 3rd January. Ballot entry period closes and the first set of ballot winners picked. The first 48-hour ETH contribution period starts.
- 5th January. First ballot entry period closes and the second set of ballot winners picked. The second 48-hour ETH contribution period starts
- 7th January. Winning user’s KYC and AML data sent to Rigoblock and TokenMarket for final accept/rejection.
- Target Date - 18th February. Winning Ethfinex users receive GRG tokens. Unlocked and ready for trading
What is the 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, and can be thought of as a rebate on trading fees. NEC can be used to vote on platform governance issues amongst 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.
What is the Superuser Program?
The Superuser program is aimed at rewarding Ethfinex’s community members. Superuser levels are determined by the amount of NEC tokens held by a user, 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.
Can I contribute more than the max individual cap?
We may be able to arrange higher individual allocations if the Ethfinex hard cap has not been reached by the end of the two 48 hour contribution windows. Please email firstname.lastname@example.org with your request.
If I win the draw, am I obliged to then follow through and 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, winners will also receive an email notification.
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 48 hours to transfer your ETH from your exchange wallet to the Ethfinex holding account. This will be completed through the contribution button that appears to winners.
Why do I have to pass KYC and what is the KYC submission deadline?
All users entering the draw must pass BlockPassKYC using the app and QR code provided. KYC is in line with requirements set by Rigoblock.
If you contribute ETH to the token sale, Ethfinex will pass your details to TokenMarket and Rigoblock for final KYC approval before issuing tokens.
You will only need your passport and proof of address (such as bank statement or utility bill) which must be less than 3 months old.
When will I receive Rigoblock tokens?
Rigoblock is aiming for GRG tokens to be distributed and unlocked on the 18th February.
What does the pledge bar on the Ethfinex Rigoblock token sale page represent
The pledge bar shows the following.
Pledge bar = min individual allocation * number of users entered into draw.
The pledge bar is in ETH, but the USD amount floats with the changing live ETH/USD price.
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