22 June 2017Token Event
Our Phase 1 Token Presale is now closed!
Thank you to everyone who participated, we will blog in greater detail about the Presale and what comes next, very soon.
The Presale sold out – reaching its $10m Ether hard cap in addition to over $10m more in other currencies and private institutional investment – in just 4 hours. Our aim for a broad base of participation was met with over 1,500 transactions recorded by the Smart Contract alone. We’re also pleased to report that our Presale did not disrupt the Ethereum network, and we saw no instances of fraudulent behaviour.
If you missed out this time, come back later in the year for Phase 2, a much larger token event where we hope to welcome an even greater number of participants.
FUN Tokens have now been issued to all contributors who sent ETH or ERC20 tokens. Those who sent Bitcoin or Zcash can now contact us with a signed message including their ETH address, to receive their FUN tokens. For a step-by-step guide on how to send us your signed message, see the FAQ at the bottom of this page.
If you’d like to stay up to date with the latest news from the FunFair Team, join the FunFair community or ask us any questions, please join our Discord channel.
- Phase 2 Trust - 11,035,227,259 (locked)
- Presale Contributors - 3,654,638,581
- Founders - 2,299,005,566 (locked)
- Advisors - 184,824,667
- Development - 30%
- Marketing, PR & Business Development - 30%
- Service licensees & 3rd party development - 40%
Note: Only ETH contributions were eligible for a bonus
When did the token event take place and what happened?
FunFair’s Phase 1 Token Presale took place on Thursday 22 June. The Presale opened at 1400 UTC, the $5m ETH soft cap was reached at 1432 UTC, activating the 4-hour follow-on period and ensuring the Presale would close at 1832 UTC, or if the $10m ETH hard cap was reached. The $10m ETH hard cap was then reached at 1754 UTC and the Presale was immediately closed for all subsequent transactions.
The final contribution that surpassed the hard cap was sizable and meant that the hard cap was exceeded by over $1m. However, in line with the Whitepaper and Smart contract code, any contribution which took the Presale beyond its hard cap would be permitted in its entirety.
Immediately following the token creation event, three times the amount of additional FUN tokens sold in Phase 1 were created. These will be held in trust until Phase 2, when the entire amount will be offered in a Dutch auction taking place in approximately September 2017. Tokens unsold in Phase 2 will be issued to Phase 1 holders on a pro rata basis.
What is the allocation of FUN tokens?
Phase 1 Tokens
At the end of the Phase 1 Token Presale, the total tokens issued were counted, and for every 100 tokens created via the Presale, an additional 66 2⁄3 tokens were created and allocated to the FunFair Founders and Token Presale Advisors.
All of the tokens allocated to FunFair Founders – which includes founders, developers and angel investors – will be locked and released periodically over an 18 month period. FunFair locked tokens will never be released in large blocks in order to help maintain market continuity.
Phase 2 Tokens
Tokens equaling three times those created in Phase 1 were also created during the Presale and are now held in a FunFair Foundation Trust. These tokens will be offered in a Dutch auction at a later date. Any tokens that are unsold in the Phase 2 Sale will be distributed to Phase 1 token holders on a pro rata basis.
Total tokens created in Phase 1 Presale: 17,173,696,075.72224756
Contributors: 3,654,638,581.78087669 (21.30%)
Founders: 2,299,005,566.92850121 (13.38%)
Advisors: 184,824,667.55606406 (1.07%
Phase 2 Foundation Trust: 11,035,227,259.45680560 (64.25%)
Where can I see details of the Foundation Trust address and Founders address?
A total of 17,173,696,075 billion FUN tokens were created in the Phase 1 Presale, of which 11,035,227,259 billion are being kept in a secure address for sale in the Phase 2 Token Sale in September 2017 (or redistribution if unsold). The address is 0xB4D446E8603cf22052cC4D0B6c46Fb4960AF0451.
A total of 2,299,005,566 billion FUN tokens were issued to FunFair founders, developers and angel investors, which are locked and released slowly over a period of 18 months. The address is: 0x34F4c0861E198ca2746eba63AceD0b1Ac682Ae2b
What was the price of FUN tokens in the Presale?
Up to 150 FUN tokens per $1 were created during the Bonus Period of the Phase 1 Token Presale. Please refer to the Bonus chart above for exact information. Once the Bonus Period ended – after the first $5M was contributed – 100 FUN tokens were created per $1 contributed. Bitcoin, Zcash, Ether and ERC20 contribution prices were ﬁxed for the duration of the token event. Finalized exchange rates for each currency were published before the Presale opened, and prices can be found here.
How and when were FUN tokens issued?
FUN tokens created using Ether & eligible ERC20 tokens were minted by the New Alchemy Minting Tool, veriﬁed and then “released” on Friday 23 June.
FUN tokens created using Bitcoin & Zcash will be issued to each contributor once we have received a signed message containing an ETH address. FUN tokens will be transferred only to a party that can prove they are the sender by signing a message with the private key of the originating Bitcoin or Zcash address. No exceptions will be made to this rule. For instructions on how to send us your signed message and ETH address, read the relevant FAQ below.
Any tokens in the Bitcoin/Zcash crediting account unclaimed for more than 90 days will be donated to Unsung.org (BeUnsung, Inc., a 501(c)(3) organization powered by Bitcoin).
Why can't I see my tokens in my Ethereum wallet balance?
Until FUN tokens are recognised by wallets such as MyEtherWallet – which should happen very soon – you can view your balance by adding a custom token to your wallet using these fields:
Token symbol: FUN
Decimal places: 8
I sent Bitcoin or Zcash to the Presale - how do I claim my FUN tokens?
Please follow the steps below to prove that you own the address you used to contribute, and to give us the ETH address you wish to use to receive your FUN tokens.
Step 1: Create an Ethereum address using a wallet such as MyEtherWallet, MetaMask, Parity, Mist or Jaxx.
Step 2: Using the Bitcoin or Zcash wallet you used to send tokens to the Presale, create a signed message that proves you are the owner of the address. For help creating a signed message, please read this post.
Step 3: Send an email to [email protected] which includes the following information:
- Signed message text
- ETH address
Step 4: We will then verify your details and issue your FUN tokens
How and when were FUN tokens be created?
All FUN tokens that will ever exist were created in one event on Friday 23 June 2017. Of the total FUN tokens created, 25% were issued in the Phase 1 Presale, and the remainder held for a Phase 2 event later in the year. No further FUN tokens will ever be created.
Where can I find information about the ETH token contract?
Where can I read the Presale Terms & Conditions?
The Terms & Conditions are available here.
What cryptocurrencies were accepted during the presale?
Ether, Bitcoin, Zcash and the following ERC20 tokens were accepted in the Phase 1 Token Presale:
GNT, REP, PLU, MKR, GNO, BAT, DGD, ICN, ANT, SNGLS, 1ST, WINGS, MLN, RLC, XAUR, SWT, GUP, EDG, VSL, DICE
What deposit addresses were used in the Presale?
Ethereum Smart Contract Address: 0x55c44fbad82686afb0ca41cefb8d086cb937b2e6
ENS Address: funfund.eth
Bitcoin Address: 1wxJTZ8ZqJiw2QH3HjuCuqBpSuSF5Yu3q
Zcash address: t1Kh2EjHooDG6qxYCXBjESTNX8JQZSuGKjc
What are FUN tokens and what are they used for?
The FUN token powers every aspect of FunFair’s Ethereum-based casino platform. Players will bet using FUN, developers and affiliates will be rewarded for their participation in FUN, and operators and licencees will pay players out using FUN. FUN will also power the smart contracts which run the platform, including FunFair’s unique new Random Number Generator.