Frequently Asked Questions About FANTOM Post-Crowdsale

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FAQs About FANTOM Post-Crowdsale

How were the lotteries conducted?

During and after the Crowdsale, many individuals in the community had common questions regarding the lotteries conducted. Here are the details:

  • Two lotteries were conducted.
  • The first lottery included 6000 ETH addresses chosen from a list of over 84,000.
  • A second lottery selected 3600 ETH addresses from the remaining entries after the first lottery.
  • Only approximately 26% of profiles passed Cynopsis’s AML and KYC checks.
  • Each lottery involved importing addresses from a .txt file, shuffling the list, and choosing winners based on a number generated by the NIST Randomness Beacon. More details can be found here.

How many participated in the lottery, were whitelisted, and were able to participate in the crowdsale?

Over 84,000 entries were allowed initially, with 6000 chosen in the first lottery and 3600 in the second. After AML and KYC checks, 2552 ETH addresses were whitelisted for the Crowdsale.

Could people send more than the max cap in the first 24 hours?

No, individuals who sent more than their maximum cap during the first 24 hours were refunded the excess amount. For example:

In a specific transaction, the sender received 3.412705792 FTM in exchange for 0.000294656 ETH, within their capped limit.

Was the max cap lifted earlier than 16 June 2018, 9am GMT + 0?

No, the maximum cap was applicable until 16 June 2018, 9am GMT + 0, for all ETH addresses included in transactions thereafter.

Why did many fail AML and KYC checks?

Reasons for failure included:

  • Photo mismatch between user-submitted photo and passport image.
  • Data mismatch between the information entered in the whitelisted form and the passport details.
  • Some individuals were categorized as “high risk” based on Cynopsis risk assessments.

Why were only Passports accepted?

Cynopsis’s system could only verify user-entered data (such as names and date of birth) against passport images. Verification against national ID cards or driver’s licenses was not possible, which was necessary for AML and KYC compliance.