Golem Crowdfunding Starts November 11

Golem Project -

We are pleased to formally announce that Golem’s crowdfunding will start on 11th November, at approximately 3 pm GMT*. It will last for three weeks, or until the maximum cap of 820,000 ETH is reached. The contract will be deployed to Ethereum mainnet and Its address will be announced a day before the crowdfunding opens.

Here are the most important facts to know about the crowdfunding:

  • The maximum financing is 820,000 ETH.
  • The minimum financing is 150,000 ETH.
  • 1 ETH creates 1,000 GNT.
  • An 18% endowment is included (12% Golem Factory GmbH, 6% team).
  • No new token creation will take place after the crowdfunding period.
  • GNT will be transferable once the crowdfunding successfully completes.
  • Endowment tokens will be locked for 6 months.

We also recommend the following for further reading:

1. Crowdfunding contract code

2. Description of how the contract code works

3. Explanatory Note & Governance Terms

4. Final Golem Whitepaper

5. Crowdfunding Web page

* Please be advised that precise start is determined by a block number. We will announce exact block number once we deploy it to the Ethereum network.

PARTICIPATION

To participate in the crowdfunding, you will need to send ETH to the crowdfunding address, from an address you fully control, not earlier than at the start block of the crowdfunding. You should use your own wallet, with a password-protected private key. We will provide detailed information on how to use wallets shortly.

Sending ETH to a crowdfunding address directly from an exchange will likely result in the loss of your ETH. Do not do that! We are not working with the exchanges on the integration of their services with the Golem crowdfunding contract. If such a service is offered, please be aware that it is provided by an exchange independently, and is not a part of our crowdfunding code. Proceed with caution.

THANKS!

Both myself and the whole Golem team would like to thank all of our supporters and Golem enthusiasts for being with us on this journey. I know this announcement comes a little later than expected, but rest assured that it is as early as we felt comfortable: time was needed in order for the process to be made both transparent and secure.

Finally, as always, if you have any questions or comments, please do join our Slack.