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The Inner Workings of the Databroker DAO DATA Token and Early Token Sale Contract the-blockchain.com

Published 6 months ago by Matthew Van Niekerk
#news #databroker-dao #ico #tge #token-generation-event #token-sale
The Inner Workings of the Databroker DAO DATA Token and Early Token Sale Contract

The Blockchain via the-blockchain.com

The contract only generates the tokens that are sold during the sale. During this initial phase, the Early Token Sale contract is the controller of the token. Coded into the sale contract is a maximum of 28.125 ETH collected at a fixed rate of 1200 DATA tokens per ETH. Again using tested techniques, the contract controls for an uneven distribution of tokens during the sale by limiting the gas price to 50 gwei and allows an address to contribute only once per 100 blocks. To do this, we are partnering with IdentityMind and their new KYC/AML/CTF/PEP* product designed for token sales. All token sale contributors are reviewed by a state of the art risk-based KYC product to ensure the eligibility according to country level regulation, that they are not obfuscating their IP address, that they aren’t a known “bad actor” and that they are not on a sanctioned individuals list. Although the regulation around token sales is still being formed in most countries, several countries have already specified their requirements and these country specific requirements are met by the IdentityMind solution. After the early token sale ends, either by selling the maximum amount of tokens assigned (15%) or if the four week period has passed, a finalisation function will be called. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full
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