Community round details – update

Authtrail’s aim has always been to reward those who backed the project from the beginning.

We listened to our community and revisited the terms of the Community round in a way to favor early supporters, but without disabling the ones that came on board to support Authtrail at a later stage.

 

We are keeping the mechanics of the Community round (Phase One and Phase Two) that we announced last week. In addition, we will employ a seniority-based contribution method for the whitelisted community members (WCM).

 

Step by step

1. The logic behind it

All whitelisted community members will be assigned different time slots reserved for contributing. The criteria for appointing a timeslot will be the timestamp of the person’s whitelisting.

 

Timeslot #1: The first 1000 registered WCM (place 1 – 1000 on the whitelist)

Timeslot #2: The next 1000 registered WCM (place 1001 – 2000 on the whitelist)

Timeslot #3: The rest of the registered WCM (place 2001 – final on the whitelist)

 

The backers assigned to the Timeslot #1 will have the right to contribute first with guaranteed allocation. The time window to do so will be set before the Community round opens. When the time is up, the group in the Timeslot #2 will get the chance to invest. If the mark of 1000 unique transactions is not reached by that point, the group in Timeslot #3 will continue in the same fashion.

 

Once the first 1,000 transactions are completed, the round proceeds to Phase Two.

 

Phase One (transactions 1 – 1000):

  • Minimum contribution: 1,000 USD
  • Maximum contribution: 5,000 USD

Phase Two (remaining slots):

  • Minimum contribution: 1,000 USD
  • Maximum contribution: 50,000 USD

 

If any whitelisted member – no matter the timeslot assigned – wants to contribute more than the maximum contribution limit in Phase One, they can easily do so after their initial contribution.

 

Tokens accepted will be USDC, USDT (ERC-20).

 

2. Steps to complete

One week prior to the Community round date, all whitelisted members will be sent a reminder and pertinent information about the event. During this time, they will be required to pass the KYC form, connect MetaMask and prepare for the procedure. The confirmation email will also state the timeslot the recipient has been assigned to.

TL;DR

In Phase One, the first 1000 whitelisted community members will have the right to contribute first. Once the set period is finished, contribution to the second batch (1001 – 2000 whitelisted community members) will be made possible, and so on until 1000 transactions are hit. The first 1000 unique contributors can transfer min 1,000 USD and max 5,000 USD.


After the first 1000 unique transactions are completed, Phase Two starts and everybody can contribute again, with a maximum of 50,000 USD. Once the hard cap is hit (6,000,000 USD), the Community round closes.

 

 

 

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