The is a copy of the original announcement that we have posted on Medium: https://medium.com/@IdeaFeX/updates-to-ideafexs-crowdsale-format-new-incentive-structure-for-referral-kyc-4a605efea209
Dear Enthusiasts of Real-World Asset Tokenization,
Since we started our crowdsale this week, we have received several suggestions and critiques from supporters. We acknowledge that our current ICO process is unfamiliar to many crypto enthusiasts, and that its level of transparency may be unsatisfactory. Further, our referral, registration, and KYC processes can be improved.
Having studied your suggestions, we have decided to A. Update our crowdsale format, and B. Install improved incentive structure:
A. Update to Crowdsale Format
We will shift our token sale to a smart-contract-based format that does not require user registration.
We will continue to offer EUR, BTC, BCH, LTC, XLM, and XRP purchase options on our website. Nevertheless, you will receive your IFX immediately after the confirmation of your purchase (Gas is deducted).
This change requires us to modify the pricing structure of IFX slightly, because we will need to denominate IFX in ETH. We have decided to price IFX at 1 ETH = 2000 IFX. The bonus structure is updated to:
0 ~ 20% sold: 40% bonus
20% ~ 40% sold: 30% bonus
40% ~ 60% sold: 20% bonus
60% ~ 80% sold: 10% bonus
80% ~ 100% sold: 0 bonus
That is to say, 1 ETH will get you 2800 IFX if you purchase before 20% of IFX is sold.
Since the goal of this update is to improve the transparency of our crowdsale, we will publish the smart contract on GitHub.
We will introduce this new format after 10 days (as stipulated in our Token White Paper with regards to updates). If you have purchased IFX already, or if you plan on purchasing before this transition, no action is needed:
We will give you an ADDITIONAL 10% BONUS on the current price (0.1 EUR).
B. New Incentive Structure for Referral, Registration, & KYC
IdeaFeX and IFX will be a success only if we have a large community. To incentivize community growth, we have decided to reward all Confirmed User Registration, KYC Confirmation, and Referral:
Registration: Every user who registers at https://ico.ideafex.com and confirms his/her email address will be credited 50 IFX on their account.
KYC: Every user who passes KYC after registration will further be credited 50 IFX.
Referral: Each time a user passes KYC, his / her REFERRER will be credited 50 IFX. There is no limit to the amount that a referrer can earn. All other elements of the referral award listed in our Token White Paper remain unchanged: the referrer can continue to earn awards after our service launches.
The award tokens are recorded in our database. These tokens come from our community fund, independent of the crowdsale. Withdrawal requests will open in July. The token count will add added in our next server update. However, all actions since the opening of our registration are valid.
Withdrawals will be free if you have at least 2000 IFX on your balance.
All winners of our Airdrop Competition will receive their tokens in the beginning of July. To be able to receive the tokens, please register your ETH address at https://ico.ideafex.com and go to Purchase => Purchase with ETH => register your ETH wallet. This way, we will record your wallet. Purchase is not required.
Yours faithfully,
The IdeaFeX Team