Here are some more finalized logistical updates before the Everipedia Network launches on EOS…
SUPPLY & RATIO:
We are officially announcing that the total circulating supply of IQ tokens on the Everipedia Network is 10 billion; we are airdropping 5.1 billion of them after the main net launch. Of the 4.9 billion remaining, 1 billion are going to be in a verifiable treasury, similar to Block.One (10%).
The remaining tokens will be distributed and used for future partnerships, airdrops (yes, there is potential for other types of airdrops which the community will have a direct say in after the EOS airdrop), team compensation, and previous investors (including WeFunder’s investors) in the company before the Block.One investment.
Regarding the EOS/IQ ratio, EOS holders will receive 5.1 IQ tokens for every EOS you have registered in your wallet. So, for example, if someone has 100 EOS in their registered address, they will receive 510 IQ when we airdrop the tokens.
HOW/WHEN TO CONFIRM YOUR IQ TOKEN BALANCE:
Once the block producers finalize the genesis snapshot, we will upload it on this Telegram channel. This way, people can verify how much they have on their EOS address once the EOS mainnet launches. You won’t need to do anything else after confirming your address is in this genesis file. That EOS address will be getting IQ at 5.1:1 ratio.
As far as when you will receive your IQ, you can expect them by mid-to-late June, which is around the time we will be launching the MVP on the EOS mainnet; we are aiming to airdrop the tokens on June 15, but the official date still remains tentative dependent on how the main network launch goes in the coming days. This will also let us look through the genesis balances and remove any exchange wallets that do not honor the IQ airdrop to their customers. Remaining exchanges will have a few days between the snapshot and the actual drop to confirm their commitment to distribute the IQ to their customers.
UPDATE ON EXCHANGES:
We have announced that the following exchanges will support Everipedia’s IQ token airdrop:
-Chaince (trading available AFTER snapshot)
Airdropping across these exchanges does two main things. Firstly, it allows for a wider distribution of IQ tokens across different public keys. Secondly, EOS holders on these respective exchanges do not have to worry about moving their tokens off exchange ahead of the Airdrop.
NOTE: If you’re keeping your tokens on an exchange not listed above and that exchange does not confirm with us their support of the IQ airdrop, we will not be airdropping to their keys.
2018-06-04 / Source: https://t.me/everipedia
Sam Kazemian: Hi everyone, Big updates, so here they are.
- We are officially announcing the airdrop snapshot method as the EOS genesis snapshot tool for initial token balances. In the off chance that there is not an EOS mainnet or accepted genesis balance snapshot by June 15th 23:59:59 UTC, we will take the snapshot of registered token balances ourselves, otherwise we will adhere to the mainnet genesis snapshot for balances of EOS to airdrop to. This is the official and final decision. This essentially means that our intent is to airdrop IQ tokens on the allocation of EOS balances from the snapshot of EOS mainnet itself. We realize that this is later than the March dates we were floating around. It’s important for us to be transparent and clear what details led us to conclude this date. Firstly, this was a decision that we decided after regulatory talks with our counsel. Believe it or not, even giving something out to the community for free and not soliciting any sale, can still run afoul of US securities laws. I know…that doesn’t make any sense to me either, but this is what we were told and advised. We are planning on having the Everipedia Network live shortly after the EOS mainnet is released so it should not be a problem to have IQ tokens after the completed network is live because IQ tokens would have no claim of being securities since they would be complete utility tokens.Further details about the % of tokens that will be airdropped, the ratio of IQ:EOS, and total circulating supply will be forthcoming soon now that the main legal and logistical dates have been concluded. The ratio will likely be more than 1 IQ token per EOS because the number of airdropped IQ tokens will be more than 1B. As a reminder, we will NEVER ask you for private keys/access to any funds or solicitations to buy anything or take part in any surprise giveaway or anything of this sort. Again…we will NEVER do any of these things. Please do not fall for anything. IN FACT, WE DO NOT EVEN ASK YOU FOR YOUR PUBLIC KEY. SO DO NOT GIVE US ANYTHING!! There are countless scam attempts and part of the reason we went with this method of the airdrop is because it will dramatically lower the chances of large scale scams of any kind. But still, we cannot prevent people from falling victim if they do not read information such as this.Pros of this airdrop method: No overhead or any airdrop specific rules. If you have your EOS properly registered for the mainnet snapshotting (whichever snapshot ends up being socially considered the mainnet), it will be good for the airdrop. There is NO other rule to memorize or adhere to for IQ. You don’t have to do any additional registrations, not a second EOS address, or do anything at all EXCEPT make sure your EOS are properly accounted for for the genesis snapshot (so please make sure you are fully adhering to block.one‘s rules for that). If you follow EOS.IO guidelines and you get your EOS to show up on the genesis snapshot process, you have IQ allocated to your EOS address at a fixed ratio of IQ per EOS. Again, one last time: We do NOT have any specific rules for IQ being credited to you other than making sure your EOS are properly credited to yourself in June through the EOS snapshot process. This is truly as painless as we could have possibly made it. Lastly, should there be multiple competing EOS mainnets in June or other unforeseen situations, this distribution method should give complete flexibility in which network to choose from since the genesis snapshot process is a mandatory process for any EOS network launch. In such a scenario, there could likely be a community vote for picking a network should such a situation arise.Another pro of this method: Every EOS that is purchased right now and WILL BE purchased until June is now entitled to IQ tokens. Before this set up, only EOS circulating before the snapshot date could technically receive IQ. Now it is any and all EOS tokens.Cons: IQ tokens will not be distributed until June meaning that the wait is longer. 🙁 We will have to use a proxy for token holders as input from the community in terms of design decisions since the tokens won’t be dropped until June. We will likely have those discussions and feedback on this channel on telegramThank you all for being patient and understanding in the airdrop planning process. We take this VERY seriously, especially because we are airdropping such a large amount of tokens and given our long term commitment to this project, we are confident that this is not just another rando airdrop. We want to see Everipedia be one of the largest dapps in the entire ecosystem of all blockchains. Given that, we cannot take the initial distribution of a very large amount of tokens for granted. We will always err on the side of caution even if something is a few days late. Thanks everyone for your continued support and excitement toward this grand experiment of distributed knowledge. 😀
- On the whitepaper front: We have finished our first full draft of the implementation paper and are getting internal feedback from important people in the community. We will be working with Dan to implement suggestions and ideas he has that he believes are improvements over previous social consensus methods that he has designed such as Steem. Once we have the implementation details complete we will release the draft. Stay tuned. Sorry that this was pushed back a bit, we will possibly release other aspects of the theory that are more complete to get community feedback, but right now we are still working on the token functionality and economics. Keep in mind that the whitepaper is a living document and currently on draft #7. There will be many additions (and we welcome community input as this is a public, permissionless network) so what we release is not the final, irrevocable theory in any sense!
- Like we mentioned before, we have been working on an ETH-EOS SPV/Relay client. We do not plan to use it ourselves for our own airdrop since we are waiting until June, but we know that this tool will be very helpful for already circulating ERC20 tokens and other projects that have ETH tokens already.
Our official github repository can be found here: https://github.com/EveripediaNetwork
We will start deploying open source, public code to this repository, including Everipedia Network EOS contracts in the future. For now, feel free to pull the current ETH-EOS relay code and send improvements, we welcome all work on this. It is an EOS community project! If you want to help us on that, just reach out. 🙂
tl:dr - 1. The airdrop will use the EOS genesis snapshot as the distribution method. Originally we planned to drop ERC20 tokens and take a manual snapshot. As June approaches, all parties involved decided that this is not worth the hassle and confusion both for users and for the team in terms of overhead due to a number of reasons (one large one being regulatory). 2. We are working with Dan and others in the community on the token theory/utility section of the whitepaper, once that section is completed, we will release the initial draft on telegram. We will likely release more finalized portions of the current whitepaper separately to discuss with the community and get feedback. 3. Public github released for all open source code. We will be frequently deploying to that from here on out.
2018-03-07 / Source: https://t.me/everipedia