Rumor: Polkadot Appears To Be Launching Its Second Token Sale After A “Building With Polkadot” Page Is Published
Rumor: Polkadot Appears To Be Launching Its Second Token Sale After A “Building With Polkadot” Page Is Published
July 25, 2020
Rumor: Polkadot Appears To Be Launching Its Second Token Sale After A “Building With Polkadot” Page Is Published
Rumor: Polkadot Appears To Be Launching Its Second Token Sale After A “Building With Polkadot” Page Is Published
July 25, 2020

Rumor on Polkadot suggests that the project appears to be launching its second token sale for its token, the DOT after a “building with Polkadot” page is published.

It has been reported that the dashboard of the upcoming sale is located on the website under the “/get/” path.

However, prospective “builders” can sign up to build through a “Get Started” page by providing their e-mail. They will then receive a form to fill with their personal data.

The first step only requires basic information like name, e-mail address, and three fields for the country of citizenship, residency, and location. A disclaimer noted that the process could not be completed by people with any tie to a variety of countries, most probably the US and Japan.

Some rumors also suggest that Chinese citizens will be prevented from joining.

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It has been analyzed that according to rumors circulating in Polkadot’s community chats, the proposed offering will be structured as a Dutch auction starting at a price of $120. After 72 hours, the asking price will be decreased as per the rules of a Dutch auction.

Those who complete the forms are sent a non-disclosure agreement regarding the “process” and signing up as a builder. The sale would likely fall under a Regulation S offering that excludes US persons from participating.

More rumored details suggest that only Bitcoin (BTC) will be accepted as currency.

There appear to be no limits to the minimum or maximum contribution, but some rumors suggest that after 10 BTC, details on the source of the funds will be requested. A vesting period of five months will be reportedly required as well.

However, if the rumors are true, this would be the second token sale for DOTs. The first was only offered to private investors at the inception of the project.

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Currently, the project is LIVE as a permissionless blockchain, but the previously issued DOTs remain untransferable.

Thus, it’s not clear when the sale will start, though the community seems to believe it is imminent.

Source: Cointelegraph | Image: Coindesk


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.