Getting ready for the Public Sale & FAQs
Due to the overwhelming participation during the BENQI public sale registrations, we expect the public sale to be highly competitive. In preparation of the public sale on 28th April 2021, 9am Pacific Time, we would like to outline the steps to participate:
- Public A and Public B rounds — April 28, 09:00 Pacific Time
- Public A — $500 min; $5,000 max
- Public B — $100 min; $1,000 max
Important Instructions for Registrants: Only KYC ‘verified’ users will be able to purchase QI tokens. We will continue to process KYC for users who already have the status ‘Documents Under Review’ even during the sale. No other users will be able to participate in the sale.
How to participate:
Step 1: Visit https://sale.benqi.fi before the sale starts. You can enter the queue waiting room at any time prior to the sale start. Everyone in the waiting room will be assigned a random spot in line. Users arriving after the sale starts get a first-come, first-served place in line after those in the waiting room.
Step 2: Wait in line as we process participation. We expect the sale to take a few hours. Please note, securing an allocation will be highly competitive.
Step 3: Once you have made it through the queue, select either Public A or Public B option, the payment options will be displayed for you to complete the purchase. Read and sign the purchase agreement by entering the exact name of the purchaser. You will receive a unique address on the screen + a QR code to send your funds. Once payment is processed, you will receive a purchase confirmation email. If you wish to purchase the other round, go back to your Profile and repeat the step for the other round.
Step 4: We will send an email with token delivery instructions within 7 days of sale close. All purchasers will need to update their receive address on https://sale.benqi.fi after the sale. We will email details about this process for updating your receive address.
As a reminder, you must purchase within the limits stated. Any purchases made by abusing the system in this way or any other way will result in cancellation of all your purchases.
Finally, please beware of phishing attacks and fake social media accounts impersonating BENQI. Please note that the ONLY place to participate in the BENQI Token Sale is sale.benqi.fi
Please read the following Frequently Asked Questions (FAQ) to help with your understanding of the public sale process:
- When is the public sale?
28th April, 9am (Pacific Time)
2. Who can participate?
KYC ‘Verified’ users only. If your status is ‘Document Under Review’, you still have a chance to participate if it is approved in time. Current submissions will continue to be processed up until the sale completes.
3. Can I participate in both rounds?
Yes. Complete 1 purchase in a round and proceed to the next round. You do not need to select a round before the sale.
4. Is every participant guaranteed an allocation?
No. Places will be highly competitive. Randomized queuing will be implemented so please ensure you join the queue at sale.benqi.fi before 9am PT on 28th April. Anyone who joins after this time will join the back of the queue.
5. Who is not permitted to participate in the public sale?
USA, Iran, Syria, Cuba, Crimea region of Ukraine
6. What is the payment method for the sale?
Payment will be on Ethereum network and the following payment methods are accepted: USDT, USDC and ETH. The Tokensoft platform has not yet integrated with Avalanche.
7. Is $QI an Avalanche or ERC-20 token?
$QI is an Avalanche native token
8. Where do I provide my receive address for my QI tokens?
You will need to update the receive address on sale.benqi.fi a few days after the sale.
9. What type of address do I need to provide for my QI tokens?
You will need an Avalanche C-chain address which is your Metamask address but connected to the Avalanche network. Instructions on how to do this will be issued after the sale. If you have never used Avalanche c-chain, please make sure you read the instructions before providing an address.
10. How do I connect to the Avalanche Network?
Visit chainlist.org, search for ‘Avalanche Main’-> ‘Connect Wallet’-> ‘Add to Metamask’ -> ‘Switch Network’.
11. If I have not submitted any KYC documents, can I still register/participate?
12. If I still need to submit documents, can I do this/participate?
13. Can I send payment from any Ethereum address?
Yes. Everyone will have a unique address to send the payment to. Please ensure there is sufficient gas to ensure your payment arrives promptly, otherwise you will potentially miss out on the purchase.
Built on Avalanche’s highly scalable network, BENQI’s vision of bridging decentralized finance (DeFi) and institutional networks starts by launching BENQI on the Avalanche C-Chain. Through BENQI, Avalanche users will be able to earn interest on their assets, obtain credit through over-collateralized loans and earn QI governance tokens as rewards for providing liquidity on the protocol and Pangolin. For more information about BENQI, please visit: benqi.fi