Public Seed Round FAQs (Deprecated)

When will the Public Seed Round start and end?

The Public Seed Round will start at 15:30 GMT on April 22nd, 2021.

The earliest possible termination time will be 15:30 GMT, April 28, 2021. But in order to avoid network traffic issues during the final minutes, if the contributions submitted within the last 15 minutes of the auction exceed 1% of the total contribution, then the auction will extend for another 15 minutes. There can only be a maximum of 16 extensions.

As a result, the Public Seed Round will officially end on April 28, 2021, as early as 15:30 GMT, and as late as 19:30 GMT.

Is the Public Seed Round page not live yet?

It's live on http://sale.integral.link/.

What currencies are accepted?

We will accept 5 mainstream currencies: ETH (wETH), USDT, USDC, DAI, wBTC.

When the sale website goes online, can I just make a MetaMask transaction right away to purchase $ITGR?

No. You must submit your KYC documents before making an investment. The KYC is designed to screen out all US PERSONS AND CORPORATIONS. If you are non-US, please proceed with the KYC.

How to do KYC if I am investing as an individual?

You will need to visit our KYC page at Blockpass and upload one of the following documents: Passport, National ID, or Driving License. We will also ask for your Email, Full Name, Date of Birth, Residential Address, Selfie, and Ethereum Address that you plan to use for investment.

Integral will use these information only for KYC purposes, and will not share them with any third party. Please check here for Integral's Privacy Policy.

You can find the link to the KYC page on Integral's twitter, Discord Announcement Channel. It will also appear on the landing page of the sale website.

How to do KYC if I am representing a corporation?

If you are a non-US corporate entity, please email the following content to [email protected] You must use your company email to send the content. The corporate KYC check is an AML check to determine if the company is on the sanctions list or not. No checks would be done on the individuals associated with a company. We will ask the following information:

  • Full legal name of the entity

  • The jurisdiction of incorporation

  • The Ethereum Address that the company plans to use for investment

I just entered my email address on the KYC page, then it stuck. What should I do now?

Please clear your cache and try again. If you still face the same issue, you might be visiting from a restricted IP address. You can also reach out to Blockpass support.

How long will the KYC verification take?

The result will come out come out in less than 3 business days.

What if I fail the KYC, even if I have already committed funds to the Seed Round?

Your contribution will be returned in either your original currencies OR in the form of USDC valued at the end of the subscription period (at 15:29 GMT April 28th, 2021 without extension, or the end of the extension if applicable) at our sole discretion.

How are the discounts enforced?

TL;DR

  • Option 1's settlement price will be total $ contributed to Option 1 / 6300 ITGR.

  • Option 2's price will be MAX (Option 1's settlement price * 2.35, total $ contributed to Option 2 / 1200 ITGR).

  • The number of $ITGR token you get will be the amount you invested in a particular option / the settlement price of that option.

    • Some contributors may fail to pass the KYC/AML process by May 7th. If this happens, their contributions will be returned and their reserved tokens will be distributed to the qualified contributors. You will only receive more tokens because of this. The final results due to KYC/AML adjustment will be announced on May 7th.

Detailed Mechanics

Settlement Price = MAX (Floor Price, Subscription Price)

Subscription Price = total $ contribution to the Option / total number of tokens offered in that Option.

Option 1

  • Floor Price = $0

  • Subscription Price = total $ contributed to Option 1 / 6300 ITGR

  • Settlement Price = MAX (Floor Price, Subscription Price) = Subscription Price

Option 2

  • Floor Price = Option 1 Settlement Price * 2.35

  • Subscription Price = total $ contributed to Option 2 / 1200 ITGR

  • Settlement Price = MAX (Floor Price, Subscription Price)

Listing Price

  • Listing Price = Option 2 Settlement Price * 1.06383

In Summary, a floor price is used to enforce discounts.

Assume the listing price is 1, then Option 1 is guaranteed a normalized settlement price of 0.4.

If Option 2 is undersubscribed (Sub Price < Floor Price), then its normalized settlement price is 0.94. This gives Option 1 a 60% discount. If Option 2 is oversubscribed (Sub Price > Floor Price), then its normalized settlement price will be greater than 0.94. This gives Option 1 a greater than 60% discount.

In all cases, the Listing Price = 1.06383 * Option 2 Settlement Price. This gives Option 2 a 6% discount.

Normalized Settlement Price per ITGR

Option 1

0.4

Option 2

>= 0.94

Listing

>= 1 (Option 2 Price * 1.06383)

What is the listing price?

The Listing Price is set to be Option 2 settlement price * 1.06383. This gives a 6% discount to Option 2.

Will we be able to adjust the amount we commit towards sale? Say, if I commit x amount on day 1 to get 5% more coins, can I add y amount to it during later days?

Yes, but the "y amount" will not get 5% more coins.

For example, an investor buys 100 ITGR Option 1 on Day 1 and then 200 ITGR Option 1 on Day 3, then his bonus is 100 * 5% = 5 ITGR.

Is day 1 bonus that same day or within 24 hours of start?

Within 24 hours of start.

Will integral token holders receive commissions from exchanges? What utility will the token have?

All protocol value will accrue to ITGR token holders. All protocol profits (“trade commissions”, “trade fees”) go to ITGR holders. Owning ITGR is owning a piece of crypto GDP.

If we buy ITGR on 4/22, will we be able to stake the full amount or only what has vested? Also are there any details about the staking returns?

Integral has not rolled out the staking feature yet. When we roll out, you will be able to stake ITGR that has vested.

How does the core team plan to use the money raised?

Before DAO assumes governance, proceeds from the sale will be spent primarily to carry out Integral's long-term vision. This includes hiring team, dev and R&D, growth initiatives for expanding the user base, and economic support of Integral and its ecosystem.

Have you seen this other project? How about we do this other thing instead?

Guys, it's about the long term. We put the VEST in INVESTING. I do feel sorry if you had a nightmarish experience with a recent stablecoin project, but please stop comparing apples to oranges. If anything, we are the opposite of these projects: We turned down pre-sale VC money in order to give everyone an equal playing ground - nobody is coming in at a price better than you. We have strong vesting to keep out dumpers. We have a working product about to turn into something mind-blowingly beautiful and game-changing.

Please think long-term. Our sale design is fair and good enough, even though it doesn't solve world hunger. Quit asking us for a different design that gives you a selfish advantage. Keep in mind we're at the frontier - this might just be BTC in 2012, ETH in 2016, Synthetix in 2018, or Uniswap in 2019. Does it really matter what sale mechanics were used back then? You've already followed us this far, your choice is this: are you in?!!