We are less then a week from an important milestone in the history of FundRequest, our main token sale. We are happy to provide an update and details on the final numbers.

PRE-SALE UPDATE

We reached our pre-sale target, leading to $9,000,000 raised thus far.

As communicated via several channels we had a seed round and a pre-sale for early backers and adopters. Some became active supporters while others took on a mentoring role. The majority of the pre-sale consists of smaller groups which ensures a wider distribution.

Note that the bonus tokens of the pre-sale will be locked for 6 months before they can be transferred.

MAIN TOKEN SALE

Our objective was to raise $15,000,000. $9,000,000 in presale and $6,000,000 during the main token sale.

Due to the recent fluctuations of ether against US Dollar, we decided not to pursue the goal of raising $6,000,000 during the main sale but keep the CAP for the main token sale at 6000 ETH.

We will thus continue to offer 10,800,000 FND at 1800 FND/ETH during the public sale. Exactly the same conditions as we’ve communicated the past days, weeks and months.

Depending on the ETH/USD ratio at the time of the token sale and assuming it will continue to trade lower than 1000 USD/ETH this equates to lowering our hard cap.

Why we’ve decided to lower the hard cap vs changing the rate or increasing the total amount of tokens:

To protect the interest of early adopters/backers.

To offer participants in our main token sale the same FND/ETH ratio without increasing the circulating supply.

We are confident that in the long term the ETH/USD market will recover, and therefore are prepared to carry the impact of the current market.

WHITELISTED AND KYC APPROVED

We were able to validate the KYC documents of everyone that submitted his registration, as well as process all resubmits. Honestly we are all glad that part is done.

In total 5821 people (84%) passed our KYC process.

The total number of people that passed KYC have pledged 65,000 ETH, which is more than 10 times the amount available for the public sale.

If you want to validate your KYC status, please use our KYC application.

Countries of residence of Whitelist applicants (115 countries)

PARTICIPANT CAPS

As we are planning to sell tokens for 6,000 ETH and have nearly 6000 people that passed KYC, the individual cap during the first 24 hours is set at 1 ETH.

ROUND 1 AND 2 BUYING TIMES

To avoid any gas war we are giving everyone enough time to take part in the first round.

Start Day 1: February 12 at 10 AM CET (9 AM UTC).

The first 24 hours of the token sale will be individually capped with a minimum and maximum contribution per person.

Minimum contribution : 0,01 ETH

0,01 ETH Maximum contribution : 1 ETH

1 ETH Recommended Gas Limit : 350,000

Start Day 2: February 13 at 10 AM CET (9 AM UTC).

The individual cap per person is lifted. It is now possible to contribute more than 1 ETH until the hard cap of 6000 ETH is reached.

Minimum contribution : 0,01 ETH

0,01 ETH Recommended Gas Limit : 350,000

Token sale information page : https://sale.fundrequest.io

TOKEN DISTRIBUTION

Our primary objective is the long-term success of the FundRequest platform. As stated before, we will distribute and transfer FND tokens within 7 up to 14 days of closing the token sale. For logistics reasons we will be distributing the tokens as soon as they are purchased but they will become transferable as planned within 14 days of closing the token sale.

The token sale is designed to run for 2 days. From Feb 12 until Feb 14 or until the hard cap is reached.

So in summary:

Feb 14 — we close the sale.

Feb 28 or before — everyone’s tokens are unlocked and transferable.

Aug 14 — Pre-sale buyers bonus tokens get unlocked.

FundRequest Token Sale Smart Contract Address

The contract address will be visible on our sale page https://sale.fundrequest.io, this page is THE ONE AND ONLY PLACE where you will find the token sale address. Please make note of this url.

We recommend verifying this address against the following:

FundRequest Twitter Account: https://twitter.com/fundrequest_io/status/960931494775672832

FundRequest Telegram Announcement Channel: https://t.me/fundrequestannouncement

BEWARE OF SCAMS

IGNORE ANY AND ALL SITES THAT ARE NOT FUNDREQUEST.IO. THE FUNDREQUEST ICO IS CLOSED TO ANYONE WHO HAS NOT ALREADY SUCCESSFULLY COMPLETED WHITELIST AND KYC. THERE IS NO PRESALE. ANY SITE CLAIMING SO IS FALSE. PROTECT YOURSELF. WE WOULD NEVER PM YOU AND ASK YOU TO SEND US FUNDS.