ITS related FAQs
What is the rationale behind the distribution method chosen?
A lot of Initial Coin Offerings (“ICO”) are based on a limit time window for participation. The TEU ITS is based on free market valuation methodology which is equitable, transparent and low burden to the Ethereum Network.
What cryptocurrency will be accepted?
Only Ether (“ETH”) will be accepted.
What is the minimum purchase for TEU Tokens?
The minimum contribution accepted during any period of the TEU ITS is 0.1 ETH. Smaller contribution amounts will be rejected (with warning on submission failure but gas will not be not wasted).
How can I check how much ETH has been contributed during a specific period of the ITS?
The amount of ETH received during each period will be shown on the 300cubits website or enquired directly on the ITS smart contract. The history of ETH contributed in any periods can be viewed on the Ethereum network.
Can U.S. citizens, residents, entities and Hong Kong residents allowed to participate in TEU ITS?
No, U.S. citizens, residents, entities and Hong Kong residents are not allowed to participate in the ITS.
Are TEU Tokens transferable?
TEU tokens are ERC20 compliant tokens which is freely transferrable under Ethereum network upon collection of token.
What happens if I can’t contribute ETH or don’t receive my TEU Tokens?
TEU token (ERC20 compliant) and ITS smart contract are run on robust Ethereum network but ETH Smart Contract Tech Ltd cannot warrant the availability of smart contracts. These contracts are therefore being provided on an “as is” and “as available” basis without representations, warranties, promises or guarantees whatsoever of any kind made by ETH Smart Contract Tech Ltd.
How can I contribute in the TEU ITS?
It is simply sending ETH to TEUsale.eth (or the 40 hex characters address starting with 0x published in our website or social media) from your Ethereum wallet. Do not send ETH directly from cryptocurrency exchanges. For detailed guide on how to contribute ETH, click here.
What are TEU tokens?
TEU tokens are ERC-20 compliant tokens distributed on the Ethereum network.
The TEU Tokens are not securities, commodities, swaps on either securities or commodities, or similar financial instruments or collective investment. The TEU Tokens are not designed for investment or speculative purposes and should not be considered as a type of investment.
What ETH compatible wallets are recommended?
We recommend using either Ethereum Wallet (aka Mist) or MyEtherWallet (web based)*. Do not use any exchange proprietary wallets to participate in the TEU ITS. We will not be able to trace your contribution if any exchange wallet is used.
* We recommend user to directly type in url https://www.myetherwallet.com in browser to avoid potential phishing site.
Can I fix the conversion rate of TEU Token?
No, the Conversion Rate is based on the total ETH contributed during a period which is not possible to fix the Conversion Rate.
When do I receive TEU Tokens after contribution?
Is there any gas consumption (network fee) when transferring TEU Tokens?
Transfers is subject to ETH gas fees like all other transactions on the Ethereum network.