July 10, 2017

Hello Bitquence Community:

Thank you for all of your support thus far! It has been incredible to experience all the positive feedback from the community and we, Bitquence, are excited to try to develop something that we hope you and the rest of the world will find useful and valuable.

We have a few announcements to make before the end of the token sale which includes legal disclosures. At Bitquence we plan to be 100% transparent and release disclosures that keep us legally compliant. This statement was prepared in collaboration with Morrison Foerster, Bitquence’s Legal Counsel for our token sale, and reflects Bitquence’s legal positions.

The Bitquence Token Sale 72 Hour Extension

Bitquence will be extending the sale by invoking a 72 hour close period past the main sale date of July 13, 17:00 UTC. With the declining price of ETH, it is extremely important that Bitquence is properly capitalized to overcome the many legal and technical challenges ahead and maximize the chances of success for the project. Please note that the BQX creation terms and conditions originally specified an allowable extension of up to 14 days. We decided because many crowdsale participants anticipated a close date of July 13, we decided to only invoke a 72 hour sale extension. We appreciate your understanding on this matter.

How to View Tokens in Your Wallet

Tokens are viewable in your wallet, but are not transferable until the close of the crowdsale. These are some general instructions on how to view the tokens, but the process may differ from wallet to wallet.

  • STEP 1:  Look for “add token” in your wallet   
  • STEP 2:  Enter the contract address: 0x5af2be193a6abca9c8817001f45744777db30756
  • STEP 3:  Enter The Token Ticker: BQX
  • STEP 4:  Enter the decimal number: 8

And then you should be able to see your tokens.

Disclosure Regarding Potential Exchange Listing

As you know, the BQXs are intended to be used solely within our ecosystem and Bitquence will not support or otherwise facilitate any secondary trading or external valuation of BQXs. Although we have spoken to a number of unregulated exchanges, there are no assurances that BQX will be listed on any exchange. Even if secondary trading of BQXs is facilitated by third-party exchanges, such exchanges may be relatively new and subject to little or no regulatory oversight, making them more susceptible to fraud or manipulation. Furthermore, to the extent that third parties do ascribe an external exchange value to BQXs (e.g., as denominated in a digital or fiat currency), such value may be extremely volatile and diminish to zero. We have no control over the operation of any exchange and do not assume any associated liabilities. Moreover, we will not make any public announcements relating to any exchange trading or the timing thereof until any material agreements are finalized and the token sale is closed. All BQX is non-transferrable until the end of the token sale.

 

Leaderboard Clarifications

We have received some questions about how exactly the leaderboard will work in the event of a tie. The rewards for the leaderboard prizes are expected to be paid out to the addresses listed in the top 100 of the board at the end of the token sale, regardless of ties. We hope to will increase the rate at which we update the leaderboard as the end of the token sale approaches and will refrain from making prize payments for a grace period of 2 calendar weeks, ending on 7/27 at 12 AM (UTC), with the hope that any complaints regarding leaderboard status will be resolved by then. For leaderboard related disputes, send an email to [email protected] with proof (transaction ID will suffice) of your standing and we will try to resolve it.

United States Residents

We are not marketing, selling or offering tokens in the U.S. or to any “U.S. Person” (As defined in Regulation S of the Securities Act of 1933, as amended), or to any person purchasing the token for the account or benefit of a U.S. Person. Some U.S. residents who are not citizens have asked us if they can participate in the Bitquence token sale. Unfortunately the answer is “no” – this was another difficult decision that we must stand by.  If you reside in the U.S. at all – regardless of your citizenship, –  you are not permitted to participate in in the Bitquence token sale.  Please do not attempt to circumvent our U.S. IP blocking or misrepresent your status.  We hope to enter the U.S. market at the right time when we are confident we can support U.S. citizens and residents and comply with all applicable legal requirements associated with doing so.

Disclosure Regarding Platform Development

Keep in mind this token sale is pre-selling the Bitquence tokens for the Bitquence platform, which has not been finished. As specified in the terms of the token sale, it is possible that the Bitquence Platform may never be built due to unforeseen circumstances. If the platform is built, it may not be available in the U.S. for quite a while or at all.

Announcement Schedule and Community Engagement Post Sale

We want to be actively engaged with the community of BQX holders. and to reflect that to that end, we anticipate providing periodic announcements about the state of Bitquence’s development and hope to engage often with BQX holders using Slack and Telegram. We expect to make announcements using a variety of potential communication methods, which may include twitter, facebook, slack, telegram, blog and email. Stay tuned to get regular for updates about what we’re up to. We are excited to see what the Bitquence development team and the community of BQX holders can build together.