ENQ - utility token to access network functionality and reward TRINITY miners for
transaction verification and smart contract publishing.
Private Sale FAQ
Who can participate?
Contributors who passed KYC procedure and were approved by the company. The company has the sole right to approve or decline purchase at any stage.
KYC application submission end date
December 31, 2018
The process of the private sale
The private sale is planned to go in 3 stages.
The first stage will start on June 22, 2018 and end on October 31, 2018 (token price: 1 ENQ = USD 0,04). This period is intended specifically for the strategic partners and early backers. The max amount per member is 2,000, 000 USD. The first stage cap is intended to be 5,967,561.6 USD. When the cap is reached, the process is put on hold and we shift to the second stage.
The second stage will start on November 1, 2018 and end on November 30, 2018 (token price: 1 ENQ = USD 0,05). This period is intended for private individuals and companies that have successfully passed our KYC process and are interested in ENQ community development and mass adaptation of ENQ tech for dApps and business. The max amount per member is to be determined individually, but should not exceed 1,000,000 USD. The second stage cap is intended to be 13,128,635.52 USD. When the cap is reached, the process is put on hold and we shift to the third stage.
The third stage will start on December 1, 2018 and end on December 31, 2018 (token price: 1 ENQ = USD 0,06). This period is intended for the members who didn’t participate in the previous two stages but received an official KYC approval to the email address used during their KYC application. The max amount per member is to be determined based on the number of approved applicants. The third stage cap is 4,774049.28 USD. When the cap is reached the selling process stops.
Please note that the final decision on allocation to any contributor is subject to sole discretion of the Company.
Who decides on the allocation?
The final decision on the allocation for each contributor is the subject to sole discretion of the Company. Each applicant that has successfully passed the KYC process is treated individually based on, including but not limited to, the planned amount of contribution, and ability and decision to actively engage into the future development of the project such as promoting healthy growth of the community of the project, creating new use cases, and any other healthy activities beneficial for the project.
Can chances of allocation be increased?
Any healthy activities beneficial for the advance of the project increase your value as an applicant. Examples of such activities can be promotion of the project in the local and global blockchain community, other media, or mutually beneficial partnership.
How much will be raised?
We plan to raise 5,967,561.6 USD during the first stage, 13,128,635.52 USD during the second and 4,774,049.28 USD during the third (final) stage. This totals to 23,870,246.4 USD.
What is the bonus program for each stage?
ENQ team came to the decision not to use bonus programs for the private sale participants.
When is the ENQ(ERC20) token transfer?
The process of transferring ENQ(ERC20) tokens to the private sale participants is planned to start on November 1, 2018.
Will all the ENQ(ERC20) tokens be transferred at once? When does the distribution of tokens start?
The distribution of tokens will begin on November 1, 2018. We intend a lockup period of 90 calendar days. During each day of these 90 days, a portion of tokens will be distributed.
Do ENQ advisers get preferential treatment in relation to the transfer?
The conditions for lock-up and distribution of advisers’ and partners’ tokens are subject to separate terms and conditions and separate agreements with each advisor or partner.
When does the ENQ team get their share of the tokens?
When does the ENQ team get their share of the tokens? The ENQ team’s share is planned to be locked up till November 15, 2019 when they can finally obtain it.
What will be the exchange rate for ENQ(ERC20) tokens to ENQ?
When the exchange is open, the rate of exchange for ENQ(ERC20) tokens to ENQ (the native token of the ENQ system) will be 1:1.