3

The Tezos fundraiser mentions that

Minimum Tezos amount is 500. That's 0.1 XBT and 0.923 ETH.

Yet the smart contract at the contribution address does not seem to enforce that. How does this enforcement happen? Off-chain, e.g. do my Tezos later get rejected if I contribute to little?

2
  • 2
    Most likely they will return the funds later. This gives them the option of breaking their own rule if it suits them. – Peter Hall Jul 1 '17 at 19:27
  • This can be discussed in the telegram, here is the channel: t.me/tezosplatform – Y.Khoroshilova Jul 6 '17 at 9:05
1

It did not enforce the minimum amount threshold at the time of the ICO, but at the time of the distribution of Tezos. They clarified their intention here: https://tezos.ch/minimum-contribution-to-the-fundraiser.html

Note this passage in particular:

While the contribution terms state that contributions of less than 0.1 XBT are non-refundable, we intend to return such contributions, minus the related transaction costs. We will investigate the best way of doing so, after the fundraiser is over.

There is a Reddit thread on this topic.

0

I read that they are most likely sending payments under the minimum back minus your transaction fee of course. Who knows though, ICO's are the wild west of scams maybe they just pocket those ones, or decide that they got so much under the minimum that they hand out their tokens even to the small payments.

Don't worry, you're not the only one who made this mistake, and secondly we're talking about minimum levels so anyone with this issue is really not going to get burned too badly. If the project doesn't fly it will be the big fish that really fry ;)

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.