SteemBet Seed Round SPT Sale Q&A

Dear Steemians,

We’re received many questions regarding our first round token sale since the news was published last week. In order to better address Steemians’ questions, here we decide to post a Q&A list. First of all, we are very happy to see everyone’s enthusiasm about our coming Seed round token sale. SPT is designed to be distributed to as many user’s hands as possible, so we encourage every Steemian to purchase a small amount of SPT and hold it to join us on a great adventure. To address some users’ concerns about SPT sold out too early, we also limit the max purchase amount of SPT for a single account in this round.

Token Sale Duration Update

Q1: Could you extend token sale period to over Easter?

A1: Sure, that’s a very reasonable ask. We will extend our seed sale period to from 16:00 22nd April to 16:00 27th April, UTC Time. We encourage everybody to get off the grid, spend time with your family and enjoy an Internet-free (is that a challenge?) Easter Sunday.

2. Launch of Token Sale Referral Program

Q2: Do you have incentives for referrals during the token sale?

A2: Yes, we feel some incentives for promotion necessary during the token sale. According to user’s suggestion, we are launching a referral program for SPT sale with rewards in below table. If a new user invested in SPT with a referral code, both the new user and the one who generated the code will receive extra SPT tokens from SteemBet. The received extra token of your account will be calculated and displayed real-time on our homepage at https://steem-bet.com during token sale. Commission of investment and promotional post is allowed.

Note that:

Your friend will need to fill in your referral code and purchase SPT for you to receive referral reward. Besides, he/she will receive bonus reward shown under “Referree Reward” column.
In order to be qualified as a referrer, one has to invest minimum 1000 STEEM or has more than one resteem on articles about SteemBet(only one article with the most resteem number counts for each user).
There are total 3 levels of invitation, meaning you will earn bonus from indirect referral up to two more tiers. For example,
a) Alice has invested 1000 STEEM into SPT, and she refers Bob.
b) Bob invests 1000 STEEM. Alice with receive 2.4% of Bob’s investment and Bob receives 1% of his own investment as bonus.
c) Then Bob refers Charlie and Charlie invests 100 STEEM. Even if Alice doesn’t refer Charlie directly, she will receive 0.8% of Charlie’s investment and Bob will receive 2.4% of Charlie’s investment, and Charlie receives 1% of his own investment.
In the end, we will sum up all bonus and show Alice, Bob, Charlie of how many extra tokens they have received from referral program.
The invitation reward will be verified and reflected into user’s account within 3 business days after the commencement of token sale.
SteemBet platform reserves the right for final explanation to SPT token sale

3. Token Purchase Rules During Sale

Q3: Could I send STEEM in advance? What happens if you are over subscribed?

A3: STEEM deposited prior to token sale will be returned to the sender’s address. If we are over subscribed, the purchase will be determined in ascending order of block confirmation time and additional STEEM over 50,000 will be returned to sender’s address.

Q4: What about those unsold tokens?

A4: According to SteemBet white paper Section 5.2.1, If SPT tokens are not fully sold, we will freeze the remaining unsold part for more than one year, and proportionally freeze the rest of SPT tokens for operation, game development, and team.

Q5: Do investors get to vote with SPT? Does the team have rights to vote too?

For voting, according to white paper section 5.3.2, every SPT token holder can participate in the platform decision making by voting at Steembet. The voting will be in accordance with the concept of Proof-of-Stake (PoS) and determines the final plan to ensure complete community autonomy. Team token part takes 20% of SPT supply and will release over time, so team has voting rights too.

That’s all for today. Thanks to everyone for following our account and please pay attention to the progress of our token sale. If there’s anything else unclear, please feel free to comment below!