Whitelist Pricing and Crypto Exchange Rate Info
As we prepare to push out the initial Whitelist emails we want to make sure that the process is as transparent and fair as possible given that crypto prices never seem to stay in the same price range for long.
For those contributors that have been whitelisted on the 0.03 EUR pricing tier we have pegged the initial contribution amounts to the rate that was available as of December 16th at 11AM UTC. This time corresponds to the moment we made our initial daily contribution calculation. It is also corresponding to the specific date and time when the 0.03 EUR pricing tier sold out.
If the Euro Exchange rate has risen based on your pledged crypto transfer amount since that time the difference will be applied to an additional COIN purchase at the CURRENT pricing tier. In this way the change in the underlying exchange rate does not effect other contributors and in which price tier they are situated in, and it still means each contributor will receive additional COIN based on the true rate at the time of confirmation.
Those additional allocations will be made only after the original whitelisted amounts are processed. As these additional contributions are going to be handled manually there will be a slight delay from the time the initial calculations are made and the final COIN values are credited to your COIN wallet. This manual process, though a bit cumbersome, ensures that all the calculations are done correctly and inline with the calculation methodology as described above.
For those contributors that have been whitelisted on the 0.05 EUR pricing tier the corresponding allocations will be based on the exchange rate that is available at the time the payment is received, based on the fact that this pricing tier has yet to be completely sold out. If in the interim the 0.05 EUR pricing tier is sold out as well we will apply a similar calculation methodology as we have explained above where the contributions will be based on the rate applied at the time the last five cent COIN was sold, with the difference being applied to the next pricing tier.
We feel this keeps the process fair and open and allows us to maintain an accurate ledger.
For the sake of ABSOLUTE CLARITY, here is a quick example:
Contributor whitelisted for 10 ETH on Dec 16th (3 Cent Tier)
ETH price based on our initial calculations: 580.81 per ETH (5,808.10 total)
Amount of COIN allocated = 193,603
CURRENT ETH price at time of transaction confirmation = 695 EUR
Total ETH contribution = 6950 EUR
Difference between initial and current rate = 1141.90 EUR
Additional COIN Allocated (at 5 cents) = 22,838
TOTAL COIN allocation = 216,441
One final caveat; should some contributors not follow through with their contributions and there are COIN available at the 0.03 EUR pricing tier once the whitelist is closed those COIN will be allocated on a first come first serve basis to the contributors that;
a. Saw an increase in their EUR based purchase totals based on an increase in the underlying crypto exchange rate and are due an additional allocation of COIN based on that price difference
b. Purchased at the 0.05 EUR pricing tier based on the assumption that all 0.03 EUR COIN had already been sold accounted for
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