AirToken White-list Opens September 14th & Token Generation Event (ICO) Date Change
On Thursday, September 14th, at 14:00 UTC (10:00am EST) the AirToken white-list will open. The white-list will be accessible only from https://whitelist.airtoken.com/. Please bookmark that page. No other website or mechanism will exist to gain entry to the AirToken white-list, so please be careful and pay attention to that website only, and avoid any messages on Slack, Telegram, or social media channels that tell you to go anyplace else. Scammers are everywhere, be smart, don’t become a victim.
We are providing precise, detailed instructions about the white-list and the ICO date change in this post as we recognize that being open, transparent and honest with the crypto community is essential for establishing and maintaining trust.
As this post is quite long, the “too long, didn’t read” summary is:
- On Thursday, September 14th, at 14:00 UTC (10:00am EST) the AirToken white-list will open. The white-list will be accessible only from https://whitelist.airtoken.com/.
- You can purchase between $300 and $50,000 USD AirTokens using ETH. Payment in ETH must be received up-front. You will have your ETH wallet address hardcoded into the ICO and will automatically receive your AirTokens. The bonus tranches are identical the the public bonus tranches.
- We are pushing back the date that AirTokens are generated and assigned to ETH wallets by 2 to 6 weeks. This is for legal and regulatory reasons in order to protect the AirToken project and ensure its long-term success, which will immeasurably benefit all AirToken holders by putting the project on clear legal and regulatory footing.
- As soon as we have the new ICO date, we will announce it. We may know as soon as one week. The white-list start date is not affected by the ICO date.
AirToken White-list Details
Who can be on the white-list?
US resident AirToken purchasers must be an “accredited investor”. You will have to enter additional information to complete your purchase. Non-accredited US AirToken purchasers are not able to purchase AirTokens. We sincerely apologize for this limitation.
International (i.e. non-US) AirToken purchasers must not be from a black-listed country (Iraq, North Korea, etc.) and must provide “Know Your Customer” (KYC) personal information.
How many AirTokens can I purchase? What currencies are accepted?
The minimum purchase amount is $300 USD. The maximum is $50,000 USD. We only accept ETH during the white-list. Previously, we announced a $10,000 USD cap — we have increased this to $50,000 USD. We feel this amount still enables a wide diversity of token purchasers while ensuring that AirToken sells out, which is best for the company and best for AirToken holders.
Is there a white-list “cap”? What is the maximum amount of white-listed AirTokens available for purchase?
We will sell out the entire public sale using the white-list if possible. As our most interested, dedicated supporters are currently following our social media channels and subscribe to our newsletter, they will therefore get first access, which is the most fair option. If the white-list does not sell out all AirTokens 7 days before the token generation event (ICO), the white-list will end, and the public AirToken sale will happen as scheduled to sell the remaining AirTokens.
We believe this white-list process is more fair than the “free-for-all” public sale, as the public sale will have no caps or limits to purchasing.
During the token generation event (ICO), all AirTokens will be minted and assigned to ETH wallet addresses for all pre-sale and white-list AirToken purchasers. The token contract will then be unlocked, and trading AirTokens will begin.
What are the bonus tranches in the white-list? Who gets the biggest bonuses?
The bonus tranches are identical to the public sale — 30% bonus for $0 to $2 million, 20% bonus for $2 to $4 million, 10% bonus for $4 to $8 million, and no bonus above $8 million.
The order of bonuses is determined by the order of the white-list: first come, first serve.
What is the white-list website process? Do I have to pay ETH immediately? How do I pay?
The AirToken white-list (https://whitelist.airtoken.com/) will work exactly as follows:
First, you will enter your phone number, and a passcode will be sent by SMS to you. Phone number verification determines who signed up first — that is the white-list order.
After completing phone verification, you will see a form to enter your personal information. This is standard “Know Your Customer” (KYC) documentation. You must enter accurate personal information.
You will enter how much USD of AirTokens you wish to purchase, between $300 and $50,000, and the ETH wallet address to which you want to assign AirTokens during the ICO.
Then, you submit the form.
AirFox will verify your personal details and contact you from email@example.com with instructions on how to send your ETH payment. The ETH conversion rate is determined by the current Kraken exchange USD to ETH spot price. Ignore emails from anyone except firstname.lastname@example.org — that is the only address AirFox will contact you from.
Once we receive your ETH, the transaction is complete, and you will automatically be assigned AirTokens in the ICO.
AirToken Token Generation Event (ICO) Date Change
We have decided to postpone the date that AirTokens are generated and assigned to ETH wallets. The new date is 2 to 6 weeks after the originally scheduled date of September 19th. This is not a decision we take lightly, and have only taken this action out of absolute necessity to ensure the AirToken project has the minimal amount of potential risk and to guarantee the long-term viability of the AirToken. Proper legal documentation and approval from regulatory authorities sends a clear message that AirToken is a transparent, legitimate project and AirFox, the company backing AirToken, is dedicated to its success.
Detailed reasons for the Token Generation Event (ICO) date change are:
Legal Delays and Changes to White-paper and Micro-loans Document
We have been working very closely with our legal team throughout the AirToken ICO process. Given the fluid and unclear regulatory nature of ICO’s in the United States and our business model of lending crypto-currency (AirTokens) as airtime, there has been a lot of discussion over the proper way to phrase this to ensure it does not violate any laws or regulations.
In the next few days, we will be issuing updates to the white-paper and micro-loans technical document to re-characterize the loan process as a “spotting” platform, which is a more accurate description of what we are trying to build. We are not lending fiat currency and our platform will not resemble any lending system used in traditional banking. Therefore, it is crucial that we accurately describe the platform we are building in order to better inform regulators.
Delays in Regulatory Guidance
We are working directly with government regulators to pro-actively inform them of the AirToken project and receive assessments that the AirToken is a utility token. We have 100% confidence that we will pass their assessments but we cannot move forward until we receive them. We appreciate how communicative the regulators have been and are happy to be working with them.
Why does the token generation event (ICO) not have a set date?
We cannot control how fast the regulators respond although they are moving quickly and we are being as helpful as possible to speed up the process. We would rather not provide a guaranteed date at this time but are confident it will be before November 1st. We will announce the new ICO date when we are positive everything is in order.
If you read this far, we appreciate your time.
Please post any questions to our Slack and Telegram channels. Links to all channels are at https://airtoken.com/. We are 100% committed to making this project a success and delays in our ICO will not prevent AirToken from succeeding.
We will continue to post news and updates in the coming days and weeks, we have some exciting announcements coming.