Sparkster's Hardcap, Crowdsale Structure and Other Questions
Sparkster almost certainly will not be reaching its hardcap of $30m. Given the current market price of ETH, and the amount of ETH raised in the presale, Sparkster's presale contribution is now only worth approximately $16.5 million. However, we are still ONLY raising the $5.7m as originally planned in the crowdsale. Hence, this revises our hard cap down to $22.2 million at current market prices.
Given that our hardcap has always even been stated in US dollar terms, closer to the date when our crowdsale will begins, we will be pegging to ETH .
Our crowdsale will consist of 2 rounds. The first round will have guaranteed allocations. This means that there will be ample time to make your contribution, and making a contribution does not impact anybody else’s ability to contribute in round 1. Guaranteed allocations are available to:
Proof of Love winners who have earned an allocation of between 1 and 10 ETH;
Lottery winners who have earned an allocation of 0.4 ETH
Additional people who complete six walkthroughs will also receive a MAXIMUM allocation of 0.4 ETH. This is only available to people that are not in group 1 or 2.
Our walkthroughs are a test drive of the Sparkster platform, and demonstrate in an experiential way how software can be built without writing any code. The walkthroughs speak on our behalf for how Sparkster will delivery on its mission of empowering people to bring their ideas to life through software. We have decided to allow more people into our guaranteed round of the crowdsale, because it is in Sparker's long term interests to build a community of users and long term token holders. Our internal data strongly suggests that those who complete our walkthroughs begin to understand and embody our vision.
We also know that there will be a sizable number of POL and lottery winners that will fail KYC, and these individuals who believe in our mission are being sought to replace them.
The amount of guaranteed allocation available to those that complete the walkthrough is yet to be determined. It will be however much allocations remain following KYC of the POL and lottery winners, divided by the number of participants who completed our walkthroughs (group 3).
In summary, Sparkster is in no way increasing the token supply, hardcap or anything else. We are simply being prudent about who holds our tokens to ensure that we build a community of long term partners and users in delivering on our mission and vision.
We are however allowing the entire community to participate in round 2 of our token sale. Round 2 will make available whatever remains unsold from round 1. We cannot forecast ahead of time how many people will actually contribute on the day of the crowdsale, so we are taking prudent measures. Round 2 is very different to round 1 in that there are no guaranteed allocations and there are no contribution limits. It is strictly first come, first serve, and once all remaining tokens are sold, the sale will end. Whatever remains unsold from round 1 will be made available to our entire community of 63,500 people. There will be gas limits in place to ensure that everybody gets a fair chance to participate, and all that is required to participate is to complete KYC.
Again, there are no changes to the token supply etc. However, as stated at the beginning, Sparkster is having to revise down it's hardcap due to the fall in the price of ETH.
If you are interested in participating in round 1, all you have to do is complete all six walkthroughs located at the link below. We are collecting this information by cookie, so once you login / register at earn.sparkster.me, we will collect this information. The walkthrough only takes 45 mins to complete. After completing all six walkthroughs, please complete KYC.
If you prefer to wait for round 2, you can immediately proceed with KYC, please clicking the link below. The deadline for both the walkthroughs and KYC completion is Sunday June 24th at 23:59 GMT.
Thank you everyone for your interest in Sparkster, we hope this article clarifies any misconceptions.
Explicit! Thanks for the update!