Why would it be worrisome though? Ultimately, the tokens should be sold to the users of the token, with Edenchain tokens being a utility token.
There are some use cases for the general community using the tokens, but we expect that majority of the demand for the tokens will come from enterprises in the future because they are the main user of the Edenchain platform.
We have carefully considered allocating tokens to those who are the most likely to need the tokens in the future when the platform is live.
Topic: [ANN] Edenchain: Permissioned blockchain platform for global enteprises - page 3. (Read 1163 times)
May 30, 2018, 12:45:14 AM
May 28, 2018, 11:54:30 PM
You've misconstrued my words. These are accusations that you have raised against Edenchain without any merit.
1. Yes, 4% of TOTAL supply was sold to the crowd during tokensale. Since 40% of total supply was sold, that means that 10% of the tokensale was sold during crowdsale. (To aid your understanding, the mathematical formula for this is 0.04/0.4 = 0.1)
2. The token distribution of 20% a month, distributed over 5 months was put in place because we wished to deter short-term investors (aka flippers) from entering the project. The community, including enterprises, strategic partners and future users of the platform, are important to a blockchain platform such as Edenchain and we want to give allocation to those who are aligned with our vision.
In our view, especially considering that Edenchain was designed to be a platform for enterprise users, the allocation of our total token supply makes sense because a key user of the platform will be enterprises.
1. Yes, 4% of TOTAL supply was sold to the crowd during tokensale. Since 40% of total supply was sold, that means that 10% of the tokensale was sold during crowdsale. (To aid your understanding, the mathematical formula for this is 0.04/0.4 = 0.1)
2. The token distribution of 20% a month, distributed over 5 months was put in place because we wished to deter short-term investors (aka flippers) from entering the project. The community, including enterprises, strategic partners and future users of the platform, are important to a blockchain platform such as Edenchain and we want to give allocation to those who are aligned with our vision.
In our view, especially considering that Edenchain was designed to be a platform for enterprise users, the allocation of our total token supply makes sense because a key user of the platform will be enterprises.
True, you said hard cap, no max supply. Sorry for the misunderstanding.
But I still find your distribution worrisome.
May 28, 2018, 11:03:13 PM
You've misconstrued my words. These are accusations that you have raised against Edenchain without any merit.
1. Yes, 4% of TOTAL supply was sold to the crowd during tokensale. Since 40% of total supply was sold, that means that 10% of the tokensale was sold during crowdsale. (To aid your understanding, the mathematical formula for this is 0.04/0.4 = 0.1)
2. The token distribution of 20% a month, distributed over 5 months was put in place because we wished to deter short-term investors (aka flippers) from entering the project. The community, including enterprises, strategic partners and future users of the platform, are important to a blockchain platform such as Edenchain and we want to give allocation to those who are aligned with our vision.
In our view, especially considering that Edenchain was designed to be a platform for enterprise users, the allocation of our total token supply makes sense because a key user of the platform will be enterprises.
1. Yes, 4% of TOTAL supply was sold to the crowd during tokensale. Since 40% of total supply was sold, that means that 10% of the tokensale was sold during crowdsale. (To aid your understanding, the mathematical formula for this is 0.04/0.4 = 0.1)
2. The token distribution of 20% a month, distributed over 5 months was put in place because we wished to deter short-term investors (aka flippers) from entering the project. The community, including enterprises, strategic partners and future users of the platform, are important to a blockchain platform such as Edenchain and we want to give allocation to those who are aligned with our vision.
In our view, especially considering that Edenchain was designed to be a platform for enterprise users, the allocation of our total token supply makes sense because a key user of the platform will be enterprises.
May 28, 2018, 03:22:43 AM
Update to the crowdsale, 3,230 ETH was raised in Round 1 and 810 ETH was raised in Round 2.
Based on this figure, ~10% of the hardcap was sold to the community.
Additional, despite the best effort of Edenchain team to shut down pools, there still remains some pools which exist that we do not have sufficient evidence to refund them. Hence, true allocation taken by the public is larger than 10% of the hardcap.
It is also important to note that based on Edenchain's tokenomics, the majority of the tokens will be used by enterprise users who are looking to tokenise their products and services on Edenchain platform. Enterprise users need the tokens as:
1. Service Deposit: A portion of tokens must be locked up to lower the risk of malicious users attempting to hog namespaces.
2. Transaction fees: Incurred for every transaction on Edenchain. Purpose is to compensate node operators for their services.
The general community who would likely use it for exchange fees or participation in future ICOs on the Edenchain platform.
In view of the potential use cases of the tokens, we view that the distribution was most appropriate. It should not be assumed that the larger the public distribution, the more equitable the token distribution is before you even critically analyse the use case of the tokens.
Based on this figure, ~10% of the hardcap was sold to the community.
Additional, despite the best effort of Edenchain team to shut down pools, there still remains some pools which exist that we do not have sufficient evidence to refund them. Hence, true allocation taken by the public is larger than 10% of the hardcap.
It is also important to note that based on Edenchain's tokenomics, the majority of the tokens will be used by enterprise users who are looking to tokenise their products and services on Edenchain platform. Enterprise users need the tokens as:
1. Service Deposit: A portion of tokens must be locked up to lower the risk of malicious users attempting to hog namespaces.
2. Transaction fees: Incurred for every transaction on Edenchain. Purpose is to compensate node operators for their services.
The general community who would likely use it for exchange fees or participation in future ICOs on the Edenchain platform.
In view of the potential use cases of the tokens, we view that the distribution was most appropriate. It should not be assumed that the larger the public distribution, the more equitable the token distribution is before you even critically analyse the use case of the tokens.
If you want to refute me, show the complete numbers of the distribution. Don't come here to tell me it's 10% because yes.
And that isn't the only problem because, if you are going to release only 20% of the total supply each month, that would imply that only 1% of the total supply would be available for those who participated in the crowdsales at the beginning.
All this under the excuse that this way there won't be P&D. I think you are looking for the pump without the dump.
May 28, 2018, 03:05:52 AM
EdenChain is currently a high-hype project with Quarkchain and Atonomi. This makes the community less interested in other physical factors such as the human factor. EdenChain's team has many years of experience in Information Technology, but not much experience in blockchain programming. I need to analysis this project carefully.
Thanks Ribokun for your comments.
If you carefully analysed the team, you would notice that their strength comes from the 70+ over years of experience that the four core developers have. These are not just recent graduates from schools with no business experience. Instead, they are seasoned high technology developers who have worked for governments and large corporations to use technology to gain efficiency gains and increase security.
Here's an article to find out more about the team. https://edenchain.io/an-opportunity-to-get-to-know-more-about-our-founders-and-core-developers-2/
Edenchain was not built on a set of ideals about how a blockchain platform ought to be. Instead, it was designed with the enterprise user in mind. Our team knows that corporations need transactions to be processed reliably, have stable & low fees, highly secure on-off chain interoperability, scalability, efficiency, customisability, and privacy. Additionally, Edenchain also uses RESTful APIs to lower the barrier to blockchain adoption. Many enterprises do not have the resources to hire blockchain developers who are extremely expensive to hire. However, most developers are already comfortable using APIs and this would ensure that they can harness the power of blockchain technology readily.
May 28, 2018, 02:45:51 AM
Update to the crowdsale, 3,230 ETH was raised in Round 1 and 810 ETH was raised in Round 2.
Based on this figure, ~10% of the hardcap was sold to the community.
Additional, despite the best effort of Edenchain team to shut down pools, there still remains some pools which exist that we do not have sufficient evidence to refund them. Hence, true allocation taken by the public is larger than 10% of the hardcap.
It is also important to note that based on Edenchain's tokenomics, the majority of the tokens will be used by enterprise users who are looking to tokenise their products and services on Edenchain platform. Enterprise users need the tokens as:
1. Service Deposit: A portion of tokens must be locked up to lower the risk of malicious users attempting to hog namespaces.
2. Transaction fees: Incurred for every transaction on Edenchain. Purpose is to compensate node operators for their services.
The general community who would likely use it for exchange fees or participation in future ICOs on the Edenchain platform.
In view of the potential use cases of the tokens, we view that the distribution was most appropriate. It should not be assumed that the larger the public distribution, the more equitable the token distribution is before you even critically analyse the use case of the tokens.
Based on this figure, ~10% of the hardcap was sold to the community.
Additional, despite the best effort of Edenchain team to shut down pools, there still remains some pools which exist that we do not have sufficient evidence to refund them. Hence, true allocation taken by the public is larger than 10% of the hardcap.
It is also important to note that based on Edenchain's tokenomics, the majority of the tokens will be used by enterprise users who are looking to tokenise their products and services on Edenchain platform. Enterprise users need the tokens as:
1. Service Deposit: A portion of tokens must be locked up to lower the risk of malicious users attempting to hog namespaces.
2. Transaction fees: Incurred for every transaction on Edenchain. Purpose is to compensate node operators for their services.
The general community who would likely use it for exchange fees or participation in future ICOs on the Edenchain platform.
In view of the potential use cases of the tokens, we view that the distribution was most appropriate. It should not be assumed that the larger the public distribution, the more equitable the token distribution is before you even critically analyse the use case of the tokens.
May 25, 2018, 03:31:36 AM
Let's do calculations:
3230 + 300 = 3530 ETH collected in the public sale.
4040 ETH * 615 USD/ETH = 2,484,600 USD raised in both crowdsales
If you wanted to raise 24 million in total, that would mean that in the pre-sales you have raised 21,829,050 USD.
So, in the crowdsale you have sold:
2,484,600 / 24,000,000 * 40% = 4.141% of the total supply.
I was worried about the distribution and you just confirmed it.
Worst of all is that it will go up a lot in price because it has a very limited public distribution.
Good luck with your project.
3230 + 300 = 3530 ETH collected in the public sale.
4040 ETH * 615 USD/ETH = 2,484,600 USD raised in both crowdsales
If you wanted to raise 24 million in total, that would mean that in the pre-sales you have raised 21,829,050 USD.
So, in the crowdsale you have sold:
2,484,600 / 24,000,000 * 40% = 4.141% of the total supply.
I was worried about the distribution and you just confirmed it.
Worst of all is that it will go up a lot in price because it has a very limited public distribution.
Good luck with your project.
May 25, 2018, 02:04:38 AM
Edenchain crowdsale is over!
DO NOT SEND ANYMORE ETH TO THE CROWDSALE ADDRESS
Thank you for your massive support.
Some statistics about the crowdsale:
- 8,500 accounts were whitelisted over three rounds (1 Apr, 22 Apr, and 15 May)
- After conducting KYC, 3,500 accounts were successfully verified. We removed 5000 accounts due to incomplete submissions, prohibited nationalities and duplicated submissions.
- 3,230 accounts participated in Crowdsale Round 1. An impressive 94% participation rate despite the bear market.
- Round 2 was closed under 1 minute
- 3,230 ETH was raised in Round 1
- 300 ETH was raised in Round 2
FAQS about crowdsale:
1. When will token be distributed?
+ Token distributed will start one day before exchange listing. The distribution will be done in equal portions over 5 months
2. How do I know that my contribution was successful?
+ If you sent us exactly 1 ETH during ROUND 1 and the transaction time was between 0700 to 1900 UTC 24 May 2018, your contribution was successful.
+ For ROUND 2, we will update shortly.
+ If you sent us multiple transactions or was not whitelisted or sent us more than maximum cap, the duplicated/excess contributions will be refunded.
3. When will Edenchain be listed on an exchange?
+ We’re unable to comment on when Edenchain tokens will be listed.
4. When will refunds be given?
+ Refunds will be given as early as possible.
5. Why did Edenchain not reopen the whitelist after some KYC had failed?
+ This was the reason why we reopened the whitelist on 22 April to allow for more people to be whitelisted, and subsequently held a lottery for more people to participate.
DO NOT SEND ANYMORE ETH TO THE CROWDSALE ADDRESS
Thank you for your massive support.
Some statistics about the crowdsale:
- 8,500 accounts were whitelisted over three rounds (1 Apr, 22 Apr, and 15 May)
- After conducting KYC, 3,500 accounts were successfully verified. We removed 5000 accounts due to incomplete submissions, prohibited nationalities and duplicated submissions.
- 3,230 accounts participated in Crowdsale Round 1. An impressive 94% participation rate despite the bear market.
- Round 2 was closed under 1 minute
- 3,230 ETH was raised in Round 1
- 300 ETH was raised in Round 2
FAQS about crowdsale:
1. When will token be distributed?
+ Token distributed will start one day before exchange listing. The distribution will be done in equal portions over 5 months
2. How do I know that my contribution was successful?
+ If you sent us exactly 1 ETH during ROUND 1 and the transaction time was between 0700 to 1900 UTC 24 May 2018, your contribution was successful.
+ For ROUND 2, we will update shortly.
+ If you sent us multiple transactions or was not whitelisted or sent us more than maximum cap, the duplicated/excess contributions will be refunded.
3. When will Edenchain be listed on an exchange?
+ We’re unable to comment on when Edenchain tokens will be listed.
4. When will refunds be given?
+ Refunds will be given as early as possible.
5. Why did Edenchain not reopen the whitelist after some KYC had failed?
+ This was the reason why we reopened the whitelist on 22 April to allow for more people to be whitelisted, and subsequently held a lottery for more people to participate.
May 25, 2018, 01:49:45 AM
ROUND 2 will start on 0700 UTC
The total allocation available in Round 2: 300 ETH
Minimum contribution: 1 ETH
Maximum contribution: 3 ETH
ETH rate is pegged to $615 USD.
Round 2 will start in 10 minutes
The total allocation available in Round 2: 300 ETH
Minimum contribution: 1 ETH
Maximum contribution: 3 ETH
ETH rate is pegged to $615 USD.
Round 2 will start in 10 minutes
May 24, 2018, 10:01:04 PM
EdenChain is currently a high-hype project with Quarkchain and Atonomi. This makes the community less interested in other physical factors such as the human factor. EdenChain's team has many years of experience in Information Technology, but not much experience in blockchain programming. I need to analysis this project carefully.
May 24, 2018, 04:27:45 PM
Infamous name choosen for crypto.... 
May 24, 2018, 02:03:06 PM
ROUND 2 0700 UTC to 1900 UTC, 25 May 2018
1. Edenchain will announce the total amount of allocation available for ROUND 2 at by 0600 UTC, 25 May 2018.
2. Login at https://edenchain.io/tokensale/ using your whitelisted email address and ETH address. PLEASE CHECK THE URL VERY CAREFULLY TO ENSURE THAT YOU ARE ON THE CORRECT WEBSITE
3. After login, you will be given an ETH address for you to send your contributions to Edenchain. There will be a video of James Ahn, showing you the first 4 and last 4 characters of the wallet to send the contribution. PLEASE CHECK CAREFULLY THAT THE ETH ADDRESS IS LEGITIMATE FROM EDENCHAIN
First 4 character of contribution address: e8Ee
Last 4 character of contribution address: L18e
4. You must send a MINIMUM of 1 ETH or a MAXIMUM of 3 ETH to the contribution address
IMPORTANT NOTES FOR ROUND 2:
- The ETH wallet used in ROUND 2 is different from ROUND 1
- You must send a minimum of 1 ETH and a maximum of 3 ETH. Otherwise, your entire transaction will fail and it will be refunded.
- ROUND 2 is on a first come first serve basis. Excess funds sent to the contribution addressed will be refunded as soon as possible.
- If your contribution was not refunded, it is successful
Info from telegram
1. Edenchain will announce the total amount of allocation available for ROUND 2 at by 0600 UTC, 25 May 2018.
2. Login at https://edenchain.io/tokensale/ using your whitelisted email address and ETH address. PLEASE CHECK THE URL VERY CAREFULLY TO ENSURE THAT YOU ARE ON THE CORRECT WEBSITE
3. After login, you will be given an ETH address for you to send your contributions to Edenchain. There will be a video of James Ahn, showing you the first 4 and last 4 characters of the wallet to send the contribution. PLEASE CHECK CAREFULLY THAT THE ETH ADDRESS IS LEGITIMATE FROM EDENCHAIN
First 4 character of contribution address: e8Ee
Last 4 character of contribution address: L18e
4. You must send a MINIMUM of 1 ETH or a MAXIMUM of 3 ETH to the contribution address
IMPORTANT NOTES FOR ROUND 2:
- The ETH wallet used in ROUND 2 is different from ROUND 1
- You must send a minimum of 1 ETH and a maximum of 3 ETH. Otherwise, your entire transaction will fail and it will be refunded.
- ROUND 2 is on a first come first serve basis. Excess funds sent to the contribution addressed will be refunded as soon as possible.
- If your contribution was not refunded, it is successful
Info from telegram
May 24, 2018, 02:51:15 AM
While waiting for the website's website to be updated, and hope to be finished soon so that it can crowdsale smoothly, hoping nobody abuses Edenchain website.
May 24, 2018, 02:49:38 AM
The site is fixed now, Crowdsale resumed.
Please click on the "Check Whitelist" button in order to login. You will see contribution instructions!
"You should see a video with James writing down part of the ETH address.
If you do not see the video with James in it, it is a scam website. Please be very careful !
Please triple check the address and the video !"
Please click on the "Check Whitelist" button in order to login. You will see contribution instructions!
"You should see a video with James writing down part of the ETH address.
If you do not see the video with James in it, it is a scam website. Please be very careful !
Please triple check the address and the video !"
May 24, 2018, 02:24:36 AM
Latest official update:
"Due to the large volume of traffic, our website is down. We will pause the crowdsale for now and re-announce the timing for Round 1 once we are able to sort the issue out.
Allocations will not change. Please be patient with us as we sort out the issue!"
"Due to the large volume of traffic, our website is down. We will pause the crowdsale for now and re-announce the timing for Round 1 once we are able to sort the issue out.
Allocations will not change. Please be patient with us as we sort out the issue!"
May 24, 2018, 02:23:33 AM
Looks like there are some issues with official site. Please wait till it will display the address and do not fall into scams! Scammers try to post fake ETH addresses in telegram.
There's 12 hours (ROUND 1 0700 UTC to 1900 UTC, 24 May 2018) to make a contribution, 1 ETH is guaranteed, no need to rush.
There's 12 hours (ROUND 1 0700 UTC to 1900 UTC, 24 May 2018) to make a contribution, 1 ETH is guaranteed, no need to rush.
May 24, 2018, 02:02:51 AM
Crowdsale round has just started!
Instructions from telegram for participating in crowdsale round1 (ROUND 1 0700 UTC to 1900 UTC, 24 May 2018 )
1. Login at https://edenchain.io/tokensale/ using your whitelisted email address and ETH address. PLEASE CHECK THE URL VERY CAREFULLY TO ENSURE THAT YOU ARE ON THE CORRECT WEBSITE
2. After login, you will be given an ETH address for you to send your contributions to Edenchain. There will be a video of James Ahn, showing you the first 4 and last 4 characters of the wallet to send the contribution. PLEASE CHECK CAREFULLY THAT THE ETH ADDRESS IS LEGITIMATE FROM EDENCHAIN
First 4 character of contribution address: 35eB
Last 4 character of contribution address: 9713
3. Send EXACTLY 1 ETH to the contribution address
IMPORTANT NOTES FOR ROUND 1:
- Individual allocation is guaranteed
- If you send more/less than 1 ETH, THE ENTIRE CONTRIBUTION will be refunded and your contribution will not be successful.
- We recommend using at least 20 GWEI and 40000 gas to ensure that your transaction reaches us in time.
Instructions from telegram for participating in crowdsale round1 (ROUND 1 0700 UTC to 1900 UTC, 24 May 2018 )
1. Login at https://edenchain.io/tokensale/ using your whitelisted email address and ETH address. PLEASE CHECK THE URL VERY CAREFULLY TO ENSURE THAT YOU ARE ON THE CORRECT WEBSITE
2. After login, you will be given an ETH address for you to send your contributions to Edenchain. There will be a video of James Ahn, showing you the first 4 and last 4 characters of the wallet to send the contribution. PLEASE CHECK CAREFULLY THAT THE ETH ADDRESS IS LEGITIMATE FROM EDENCHAIN
First 4 character of contribution address: 35eB
Last 4 character of contribution address: 9713
3. Send EXACTLY 1 ETH to the contribution address
IMPORTANT NOTES FOR ROUND 1:
- Individual allocation is guaranteed
- If you send more/less than 1 ETH, THE ENTIRE CONTRIBUTION will be refunded and your contribution will not be successful.
- We recommend using at least 20 GWEI and 40000 gas to ensure that your transaction reaches us in time.
May 22, 2018, 09:21:36 AM
You publish the ANN after closing the whitelist. Geniuses
May 22, 2018, 05:54:35 AM
A permissions blockchain is just a glorified database
. You're selling a scam.
. You're selling a scam.
Please take a look at project WP (https://edenchain.io/wp-content/uploads/2018/05/EdenChain-Whitepaper_v1.2.pdf) and 2 released MVP. In future please be more specific and backup your statements.
Only those who were whitelisted and passed KYC can participate in Crowdsale. So only the people who trust the project will be able to buy it...
May 22, 2018, 05:44:45 AM
A permissions blockchain is just a glorified database
. You're selling a scam.
. You're selling a scam.
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