Disclaimer: These questions and answers are for general information only and may not be accurate in every instance. They should not be considered legal advice and are not legally binding.
Token Sale Questions
When does the DBR token sale start and end?
The DBR token pre-sale has three phases and is followed by the DBR token Crowdsale. The start and end time for each phase are:
Pre-Sale Phase 1
Starts: October 25, 2017 at 08:01 PDT / 11:01 EDT / 15:01 UTC / 23:01 Beijing Time
Ends: November 6, 2017 at 15:59 PST / 18:59 EST / 23:59 UTC / 07:59 (Nov 7) Beijing Time
Pre-Sale Phase 2
Starts: October 26, 2017 at 07:01 PST / 10:01 EST / 15:01 UTC / 23:01 Beijing Time
Ends: November 20, 2017 at 15:59 PST / 18:59 EST / 23:59 UTC / 07:59 (Nov 21) Beijing Time
Pre-Sale Phase 3
Starts: November 21, 2017 at 07:01 PST / 11:01 EST / 15:01 UTC / 23:01 Beijing Time
Ends: December 4, 2017 at 15:59 PST / 18:59 EST / 23:59 UTC / 07:59 (Dec 5) Beijing Time
Crowdsale
Starts: December 5, 2017 at 07:01 PST / 11:01 EST / 15:01 UTC / 23:01 Beijing Time
Ends: January 19, 2018 at 15:59 PST / 18:59 EST / 23:59 UTC / 07:59 (Jan 20) Beijing Time
Different policies regarding (the ending of) Day Light Savings across countries may impact local timings. Hence please use the UTC time as your only guidance and check the equivalent local time in your jurisdiction.
What is a SAFT and why is it needed to take part in the düber token sale?
The düber ICO will use a SAFT (Simple Agreement for Future Tokens) structure which has been developed by multiple legal teams to ensure a legally compliant investment structure. We have chosen this structure to provide contributors confidence that the DBR offering is compliant with the highest level of regulatory requirements for ICOs. The SAFT structure requires accreditation of contributors under Rule 506(c) of Regulation D of Section 4(a)2 of the US Securities Act and other applicable securities laws. Investors in the SAFT offering will fund the development of the düber ecosystem through to the point where a public launch of the network is achieved that meets the minimum viable product requirement for use of the DBR token. At that point, the SAFTs will automatically convert, be minted into düber tokens (DBRs) and distributed to all contributors.
How can I participate in the düber token sale and buy DBR tokens?
Starting on October 25, 2017 at 15:01 UTC, you will be able to initiate the process of participating in the düber token sale from https://crowdsale.dubercoin.com. We recommend that you create your account well in advance of this time and ensure that you have an Ether wallet with the amount of ETH you intend to contribute to the düber token sale. Please note that your contribution must be at least 0.2 ETH (per transfer).
After logging into your dashboard, you can view the total number of DBR tokens you have purchased, calculate the number of DBR tokens you will receive by entering the amount of Ethers you intend to contribute, and see the Token Pricing schedule in effect during each phase of the token sale.
You will be able to complete an accreditation by clicking on the “Proceed to Purchase” button and completing the accreditation wizard. You will need to specify the ERC-20 compatible Ether wallet address from which you intend to send your ETH contribution.
Once you provide your Ether wallet address, you will be provided with düber’s token sale address. When sending ETH to the düber token sale address, please set the gas limit to 200,000 to ensure that the transaction succeeds. After you send ETH to the token sale address using your Ether wallet and we receive the transfer, you will receive a notification by e-mail that a completed SAFT document is ready to be reviewed and signed. Please log into your dashboard at https://crowdsale.dubercoin.com and sign the SAFT document to complete the participation process. You will also need to upload any required supporting documents from the dashboard.
Upon the introduction of the düber token functionality into our products and services, which makes use of DBR tokens possible (minimum viable product), SAFTs will automatically convert, be minted into düber tokens (DBRs) and distributed to all contributors.
A step-by-step tutorial document is available to guide you through setting up and funding an Ether wallet and participating in the düber token sale here.
Which wallet should I use to purchase DBR tokens?
DBR is an Ethereum-based ERC-20 token. Token holders can store and manage their tokens using existing ERC-20 compatible wallets or clients. Purchase using token exchanges is NOT supported for participation in the Crowdsale. We plan to list DBR on various exchanges once token distribution begins.
The following wallets are compatible with Ethereum tokens (ERC20 standard) and may be used to purchase DBR:
MyEtherWallet (no download needed)
MetaMask (Firefox and Chrome browser add-on)
Mist (desktop)
imToken (iPhone and Android)
Do NOT use any of the following wallets/exchanges for purchase of DBR tokens (this is not an exhaustive list):
Any Ethereum or Bitcoin exchange such as:
Bitfinex
Bitrexx
Bitstamp
Cex.io
Coinbase
Exodus
Jaxx
Kraken
Poloniex
What method of payment can I use?
You can buy DBR tokens in exchange for Ether (ETH). düber will only accept ETH during the token sale in exchange for DBR tokens. Bitcoin, LiteCoin, or fiat currency such as USD will not be accepted.
We are accepting a single cryptocurrency (ETH) to avoid scenarios where some cryptocurrencies inadvertently enjoy a favorable (or less favorable) exchange rate over others at any time during the token sale.
How will I know if my purchase was successful?
You will know that your purchase was successful as you will be notified by e-mail upon successful transfer of your ETH to the düber token sale address. At any time, you can log into your dashboard at https://crowdsale.dubercoin.com using your e-mail address and password. Here, you will be able to view the number of ETH you’ve contributed, and the number of DBR tokens you will receive in exchange once all tokens have been minted and distributed.
How many DBR tokens will I get for 1 ETH?
You will receive the following number of DBR tokens based on when you send your ETH to the düber wallet address:
Pre-Sale Phase 1 (Oct 25 to Nov 6): 3,900 DBR per ETH contributed (3,000 DBR plus 30% bonus)
Pre-Sale Phase 2 (Nov 7 to Nov 20): 3,600 DBR per ETH contributed (3,000 DBR plus 20% bonus)
Pre-Sale Phase 3 (Nov 21 to Dec 4): 3,300 DBR per ETH contributed (3,000 DBR plus 10% bonus)
Crowdsale (Dec 5 to Jan 19): 3,000 DBR per ETH contributed
How many DBRs can I buy?
Each transfer of ETH from your Ether wallet to the düber token sale address must be at least 0.2 ETH. Transfers that are less than 0.2 ETH will be rejected. There is no maximum purchase limit as long as the DBR tokens have not been sold out in each phase of the token sale. The number of DBR tokens available during each phase of the token sale are:
Pre-Sale Phase 1 (Oct 25 to Nov 6): 136,500,000 DBR tokens available
Pre-Sale Phase 2 (Nov 7 to Nov 20): 126,000,000 DBR tokens available
Pre-Sale Phase 3 (Nov 21 to Dec 4): 115,500,000 DBR tokens available
Crowdsale (Dec 5 to Jan 19): 735,000,000 DBR tokens available
Are there bonuses available during the DBR sale?
Bonus DBRs are available during the three pre-sale phases. You will receive the following number of DBR tokens based on when you send your ETH to the düber wallet address:
Pre-Sale Phase 1 (Oct 25 to Nov 6): 3,900 DBR per ETH contributed (3,000 DBR plus 30% bonus)
Pre-Sale Phase 2 (Nov 7 to Nov 20): 3,600 DBR per ETH contributed (3,000 DBR plus 20% bonus)
Pre-Sale Phase 3 (Nov 21 to Dec 4): 3,300 DBR per ETH contributed (3,000 DBR plus 10% bonus)
How many DBRs will be created in total and how many will be available in the token sale?
We will mint (create) up to a maximum of 2,226,000,000 DBR tokens.
Up to 1,113,000,000 DBR tokens (50%) will be available for sale during the token sale. The tokens available for purchase during each phase of the token sale are as follows:
Pre-Sale Phase 1 (Oct 25 to Nov 6): 136,500,000 DBR tokens available
Pre-Sale Phase 2 (Nov 7 to Nov 20): 126,000,000 DBR tokens available
Pre-Sale Phase 3 (Nov 21 to Dec 4): 115,500,000 DBR tokens available
Crowdsale (Dec 5 to Jan 19): 735,000,000 DBR tokens available
How will the DBRs that are not sold during the token sale be distributed?
The total number of tokens allocated in the token sale will represent 50% of the total number of tokens to be issued.
We will issue 66,780,000 DBR tokens as bounties, and up to a further 47% of the total number of DBRs will be allocated as follows:
- 13.5% to seed the network liquidity
- 13.5% in controlled reserve
- 5% for partners
- 15% for the team
The 20% of tokens allocated to advisors, partners and team will be locked up as follows:
- 50% locked up for 12 months
- Remaining 50% locked up for 24 months
How will funds received through the ICO be used?
We plan to utilize the funds received as follows:
- 40% Further development of the düber platform
- 29% Sales and Marketing
- 15% Working Capital
- 10% Operating Expenses
- 6% General and Administrative
Is there a lock-up period for DBR tokens purchased in the ICO?
Once the minimum viable product has been released, enabling the use of the tokens, DBRs will be minted and distributed. There will not be a lock-up period for tokens purchased during the token sale once the tokens have been distributed.
How can I contact düber if I have additional questions about the düber ICO?
We recommend that you contact us through the contact form or chat button on the dubercoin.com website.
General Questions
What is an initial coin offering (ICO)?
An initial coin offering (ICO) is a mechanism for raising funds through a crowd sale. These offerings are becoming increasingly popular in the startup space where valuable technology evolves quickly. Participants in an ICO are financing the company’s development now in order to benefit from the company’s services in the future.
What is cryptocurrency?
Cryptocurrency is a form of digital currency that uses encryption techniques to verify the transfer of funds, while also controlling the generation of extra currency units. Cryptocurrency is meant to be a quicker, cheaper, and more reliable form of payment than currency tied to individual countries (also known as fiat currency).
What is blockchain?
The blockchain network is a self-auditing ecosystem of a digital value. It reconciles transactions in a database system that is distributed on a network of servers, rather than on centralized storage devices. It is a constantly evolving list of ordered records, called “blocks.” This technology is beneficial because it is transparent and cannot be corrupted since data is embedded in the whole network.
What is a smart contract?
A smart contract is program code that carries out the exchange of tokens in a transparent and conflict-free manner, while avoiding the reliance on human interaction or “middleman.” Smart contracts are used to facilitate, verify, and enforce the negotiation in question. These smart functions are predictable and immutable.
What is the düber platform?
düber is an integrated platform ecosystem for growers, processors, transporters, retailers, and customers in the legal cannabis industry. We offer full-service solutions for the tracking, advertisement, and sale of cannabis products. For more information about our platform, please see our white paper and visit duberpartners.com.
How many developers do you have working on the düber platform?
We have an experienced and talented team of 16 developers working on our products and services.
Where are you located?
Our office address is:
düber Technologies Inc.
1100 Dexter Avenue
Suite 100
Seattle WA 98109
USA
Most of our development team are located at:
düber Technologies Inc.
68 East 1st Avenue
Vancouver, BC V5T 1A1
Canada