Dear fidentiaX Community/Investors,
As our Crowd Token Contribution (CTC) aka ICO is coming to a close, we would like to share the process we are embarking on the distribution of unallocated tokens from the CTC.
You can read more about the enhanced strategy here: https://steemit.com/fidentiax/@fidentiax/announcement-on-change-of-token-strategy
Total Crowd Token Contribution tokens: 100,000,000
Founder: 25,000,000
Partners: 4,000,000
Bounty: 1,000,000
Total Token Supply: 130,000,000
Total fdX tokens distributed so far is approximately 2,950,000.
Assuming we close off the ICO with a total distribution of 3,500,000 fdX:
The following fdX tokens will be mint before the close of the ICO:
Crowd Token Contribution: 100,000,000 - 3,500,000 = 96,500,000 fdX
Founders: 25,000,000
Partners: 4,000,000
Bounty: 1,000,000
Steps to be taken:
Before 6 Dec
- Mint Bounty Tokens, 1,000,000
- Mint Partners Tokens, 4,000,000
- Mint Founder's Tokens, 25,000,000
- Progressively mint unallocated CTC tokens, 96,500,000
- Finalize CTC tokens to be mint by 5 December 2017 0200 hours (UTC+8)
- We will keep a small amount of fdX tokens for late contributors and close CTC by 5 December 1100 hours (UTC+8)
- Snapshot of all tokenholders at the end of CTC. This will be the finalized tokenholders eligible for unallocated CTC tokens distribution. The fdX tokens held by individual will be "Token Held"
- Tabulate fdX allocated to the investors, this will be the "Total Allocated Float" used for calculation.
After 6 Dec
- Taking total fdX tokens issued LESS OFF Founders, Partners, and Bounty. This will be the "Total Float" used for all calculation.
- Allocation to individual token holders will be based on the following formula:
[Token Held / Total Allocated Float * Total Float] - Token Held
This amount of tokens will be transferred to the Tokenholders within 7 days from the close of ICO.
Example:
Investor A
Token Held: 5,000 fdX
Total Allocated Float: 3,500,000 fdX
Total Float: 100,000,000 fdX
The calculation would be:
[5000 / 3,500,000 * 100,000,000] - 5000 = 137, 857.14 fdX
to be distributed to Investor A
The percentage of fdX holding for each tokenholder would remain the same after this exercise, Tokenholder's value are NOT DILUTED due to this exercise.
We thank everyone for their support of fidentiaX's Marketplace to disrupt the Trillion-dollar Insurance Industry!
Team fidentiaX