FREQUENTLY ASKED QUESTIONS
FAQs about Evident Proof
Why are you carrying out a token sale?
We have ambitious plans to build out the platform to meet estimated client demand from businesses of all sizes based on client interest that we are already seeing. There are potentially hundreds of use cases for the platform, so we are carrying out this token sale with a view to be able to scale quickly and globally for large enterprise clients, independent software vendors, businesses, individuals and other ICOs that we envisage will have a demand for the platform. We are planning to put teams in place to on-board clients, and to support and scale the platform to several datacentres globally. We intend to remain leaders in addressing the critical need for data verification around the world.
Who will be issuing the tokens?
Evident-Proof Limited will be issuing the EPT.
When will the token sale take place?
DAXT presale: 25 June 2018 at 00:01 UTC and runs until 1 July 2018 at 23:59 UTC.
Presale: starts 2 July 2018 at 00:01 UTC and runs until 16 July 2018 at 23:59 UTC. If sold out, we will begin the general sale immediately.
General sale: starts 17 July 2018 at 00:01 UTC and ends 31 July 2018 at 23:59 UTC, or earlier if sold out.
How do I register for the token sale?
You can register now for the Evident Proof token sale by creating a BlockEx Markets account. by going to BlockExMarkets.com and passing KYC. For full details of how to create a BlockEx account, click here.
What do I need for KYC?
1. Passport or drivers license as proof of identity. Passports are strongly preferred, and we do not accept
from most countries.
2. Selfie holding your ID to prove it's you.
3. Separate proof of address: a utility bill or bank statement less than three months old.
What is the hard cap for the token sale?
We are aiming to raise US$48 million in the token sale to scale, promote and further develop Evident Proof globally, put the right support and teams in place, and to better ensure that we remain leaders in providing data verification services.
What is the total cap of tokens?
The EPT issue is capped at 400 million.
How many tokens will be sold in the token sale?
75,000,000 EPT will be available in the token sale.
Is there a vesting period for the founders and advisors?
Yes, we are committed to building the business over the long term, so we have implemented a vesting period of at least two years for EPT allocated to founders and advisers.
What is the distribution of the other 300 million tokens?
The remaining 325 million EPT are held in reserve for long term utility of the platform. These tokens are only issued when client data has been loaded onto the platform. There is no other way to access these tokens. All the tokens received by the client in exchange for data delivery to the platform are the intellectual property of the client. They can redeem those for data services and proof certificates.
Where can I find trusted and official information about your token sale?
These are our official channels:
Are there any countries or citizenships excluded from the token sale?
Citizens, nationals, residents (tax or otherwise) and/or green card holders of each of South Korea, the People’s Republic of China, the United States of America, and any sanctioned countries or other jurisdictions which prohibit the offering, purchase, possession and/or exchange of tokens are not eligible for participation in the token sale. Please refer to the Terms of Subscription for further detail.
What are the risks associated with the token sale?
There are a number of risks associated with your participation in the token sale which may lead to a loss of all or a significant portion of monies or monetary value utilised to acquire the tokens. You should carefully consider and evaluate each of the risk factors and all other information contained in the Terms of Subscription and the Legal Considerations, Risks & Disclaimer.
Which blockchain will facilitate your tokenisation?
The Evident Proof platform is built on the Ethereum blockchain, and the token is ERC-20 compatible.
Which wallets can I use to buy your tokens?
EPT is an ERC-20 compliant token and so you can store it in your own ERC-20 compatible wallet. Please
do not transfer ether (ETH) directly from cryptocurrency exchanges. ETH must be sent from an ETH-compatible
Incompatible wallets: Coinbase, Poloniex, Exodus, Kraken or any exchange wallet
Do I need to pass KYC?
Yes. All contributors will be required to pass know your customer (KYC) requirements before contributions can be accepted.
What happens to any unsold tokens?
In our model the redeemed tokens will not be burned as tokens are used for the operation of the platform and we would run out of tokens over time. But token scarcity is built into the model, since tokens are only issued when clients add data on to the platform. The number of tokens in circulation will only increase as more clients join the platform over time.
When will the tokens be distributed?
EPT will be generated and distributed once the general sale is finished.
Does Evident have access to the original Source Data?
Normally not. The PSU runs Evident code inside their IT system that does see the source data, but only ever sends a hash of that data to Evident.
What hashing algorithms are used?
Evident uses SHA-3. The Ethereum Public blockchain and Private blockchain use EThash.
Who can I contact at Evident for more details?
See our Contacts page
Can Evident prevent a Proof being confirmed?