Prior to the November, 2016 token sale, Arcade City Inc. (AC Inc) was supported by a group of Angel Investors. They used their personal resources to subsidize the vision of Arcade City founder Christopher David. The Arcade City white paper directed that after the token sale completed, these investors would split an allocation of 5% of the tokens created through the sale.

When Christopher David stepped away from the project, the Keyholders of the Swarm City multisignature wallet did not have access to, or knowledge of the agreements between AC Inc and its pre-token sale Investors; namely who would receive how many tokens. Because of this, distributing the Investor tokens as directed by the token sale white paper was a challenge. Therefore, Bernd Lapp began a public call, asking the investors to identify and claim their part of the allocation.

At this point all investors have been identified and the Swarm City Keyholders will allocate 476,253 ARC Tokens to the following Investors:

Dan, Dave, Johan, Jordan, Justin, Norman, Philipp, Raul, Roger, Tobey and Yessin.

The token distribution will be performed in the next few days.

Author: Bernd Lapp

About Swarm City

Swarm City is the first truly decentralized peer to peer sharing economy, enabled by the SWT token, running on the Ethereum blockchain.