FAQ2020-10-26T05:16:20+00:00

DistX FAQs

FAQs for DISTX Token Holders
How do I qualify for the top 200 rewards?2020-10-26T04:27:38+00:00

To be eligible for the “Top 200 rewards” you must be a top 200 token holder according to Etherscan, and you can check here:

https://etherscan.io/token/tokenholderchart/0x4B4701f3f827E1331fb22FF8e2BEaC24b17Eb055?range=200

 

We do not include team wallets or exchange wallets in the top 200, meaning the real cutoff number is closer to 207 or 208.

Rewards for the top 200 holders are paid in tiers. You can find the tiers and some examples here:

https://medium.com/@distx/top-200-rewards-tiers-revealed-46faf78c2cea

 

Your tokens must be held in a personal wallet such as MetaMask or MyEtherWallet. Basically, just not on an exchange or any other wallet you don’t have the keys for. Your rewards will be sent to the same wallet.

 

The top 200 snapshots are carried out at the moment each token sale ends (either by time, or when it sells out).

 

What is the difference between DISTX and DISTXR tokens?2020-10-26T04:23:47+00:00

DISTX is the primary token fo the DistX project. It is the token you would trade on the exchanges and is listed on CoinMarketCap, CoinGecko etc. It has a total supply of 50,000,000 and is an ERC20 token.

DISTXR tokens are a unique ERC-721 non-fungible (NFT) redemption token, serving primarily as a receipt for every token sale contribution on the DistX platform. When you participate in a token sale, you instantly receive a DISTXR token in your receiving wallet(s) which can be redeemed for your share of the token sale tokens, via the DistX website. You can redeem this token at any time in the future. This gives great flexibility in your token holdings as well as a receipt giving you peace of mind after contributing to a token sale. Each unique DISTXR token is generated at the time of your contribution.

What are the DISTX token details?2020-10-26T02:57:08+00:00

To add a custom token to MetaMask, MyEtherWallet or other wallet, the details for the genuine DISTX tokens are as follows:

Address: 0x4B4701f3f827E1331fb22FF8e2BEaC24b17Eb055
Decimals: 18
Symbol: DISTX

What are the benefits of DISTX tokens?2020-10-26T02:31:57+00:00

DISTX tokens offer great utility and several significant benefits. These include:

  • Top 200 DISTX token holders receive a share of 2% of all tokens from token sales running through the DistX platform.
    Example: If you’re a top 200 DISTX token holder and a token sale sells 100M of their “ABC tokens”, you’ll receive a share of 2M tokens, FREE! More info here.
  • DISTX token holders may gain early access to token sales on the DistX platform. A potentially HUGE advantage in popular token sales. The token sale teams decide the minimum DISTX holding for early access, as well as the early access times. More info here.
  • 1% of all ETH raised through token sales on DistX is used to buy and burn DISTX tokens, making it a deflationary token.
  • The remainder of any unused fees will go into a staking rewards pool. Stake your DISTX tokens for a share of all ETH in the pool. More info here.
  • Trade on DistDEX, giving you access to the latest and greatest new tokens. The only trading pairs are TOKEN/DISTX. Note, DistDEX will launch in December 2020. More info here.
  • Unsold tokens from token sales may go into a DistX token holder lottery. 50 random DISTX token holders (1,000 DISTX minimum holding) will receive an equal share of tokens. More info here.
Where can I get DISTX tokens?2020-10-26T01:16:36+00:00

You can get DISTX tokens from the following exchanges:

UniSwap

HotBit

Probit

CoinsBit

Bilaxy

FAQs for Token Sale Participants
How do I participate in a token sale?2020-10-27T03:48:22+00:00

Simply connect MetaMask to an account with your ETH balance in it, and visit a token sale page via the DistX app. Select how much ETH you wish to contribute, click on the “Buy” button on a live token sale, and you’ll be prompted by MetaMask to send your ETH.

If you send ETH to an already sold out sale, you will automatically be refunded, or the transaction will fail.

After participating, you will receive a DISTXR token in your wallet. You can redeem that token for your purchased token sale tokens, once redemption opens on that token sale. To redeem, visit the “My DISTXR Portfolio” page in the DistX app.

Can teams “rug pull” if they use DistX?2020-10-26T06:34:47+00:00

If a team has selected to list on UniSwap and lock their liquidity for a certain period of time, they will not be able to withdraw that liquidity for that period. After that period ends and their funds are unlocked, they will be able to access and remove funding if they wish.

Do I need to create an account to participate to a token sale?2020-10-26T06:32:27+00:00

No. You will only need to connect MetaMask, just like using UniSwap. To access your previous token sale purchases, you only need to connect MetaMask and visit the DistX app. We don’t collect any personal information.

What is “early access” and how does it work?2020-10-26T04:56:17+00:00

Early access is a feature giving a benefit to DISTX token holders. When creating a token sale, teams can decide to open the token sale early for DISTX token holders. They can decide the time (how early) as well as the minimum amount of DISTX the participant must hold.

For example, a sale for ABC Token might have early access on November 15th at 3pm, and Public access on November 15th at 6pm, with minimum holdings of 5,000 DISTX. So during the 3 hours of early access, if you hold over 5,000 DISTX, you will be able to participate. If you don’t have over 5,000 DISTX you will need to wait until public access opens.

Your DISTX must be in the same wallet that you have connected to the DistX app (that you are participating from).

Is there any lottery or queue system for token sale participation?2020-10-26T04:52:40+00:00

No. Once a token sale is “open” you may need to be quick to contribute before it sells out. Don’t worry, if you miss out, you’ll receive an automatic refund of your ETH.

It might be a good idea to increase your gas to give you an edge over others, for a popular token sale.

How do I redeem my DISTXR tokens?2020-10-26T04:43:21+00:00

To redeem your DISTXR tokens, simply visit the DISTXR Portfolio page available off the app menu. Make sure your correct MetaMask wallet is connected. and your DISTXRs will show up on this page. Simply click “redeem” and your DISTXR will be taken from your wallet and replaced with your purchased token sale tokens.

You can send your DISTXR to another wallet if you wish to redeem the tokens to that wallet.

What happens if a token sale doesn’t reach soft cap?2020-10-26T04:41:20+00:00

If soft cap is not reached by the specified time, the token sale participants will receive an ETH refund. Their DISTXR tokens will be redeemable for ETH rather than for tokens.

Teams are able to run another token sale at a later date to try and reach soft cap again, if they wish. It is quite a risk free process for all involved.

Does DistX guarantee no scams?2020-10-26T03:18:53+00:00

DistX is a token sale platform that allows teams to select options for their token sale, such as locking team tokens, UniSwap listing and liquidity locking, and much more. The many options (token sale settings) can be viewed publicly for several days before each token sale opens.

Participants view the settings and decide if they are comfortable to contribute to each token sale. Most settings use smart contracts to guarantee various things. For example if team tokens are locked for 90 days by a smart contract, that is guaranteed. If a team locks UniSwap liquidity for 90 days, and then “rug pulls” on day 91, there is no way to stop that. You need to check the settings and be aware.

DistX can have no way of knowing a team’s intentions or capabilities for the future, outside of these settings. A team may select all of the most popular settings and still not deliver a product as promised, or may deliver a poor or mismanaged project. After the token sale ends on DistX, that is the end of our involvement other than putting teams in touch with our partners for after sale services.

As always, DYOR. DistX makes that research very simple as most of it is in one place.

Does DISTX do KYC on token sale participants, or teams?2020-10-27T03:42:33+00:00

There is no KYC for token sale participants. The teams add in their individual token sale terms and conditions or disclaimers and the participants must agree before contributing. Teams also select which regions are eligible to participate in their token sale. If you are not in an eligible region, please do not participate.

DistX does carry out basic KYC on the teams before their token sales can become live. This eliminates “anon” teams and helps fight against various future scams. DistX will also do some research into the project and social accounts. Teams (founders etc) may choose to remain anon publicly, but will still need to reveal themselves to our team privately to pass KYC. Token sales will not be possible without teams completing KYC.

FAQs for Token Sale Holders (Teams)
How do I create a token sale?2020-10-27T03:40:33+00:00

To create a token sale for your project, simply visit the DistX app and go to “Create a Token Sale” from the main menu (top right).

You will be required to complete a form to give DistX the information required about your token sale, and we will then be in touch regarding some KYC and to organise activation of your token sale.

What happens if a token sale doesn’t reach soft cap?2020-10-26T04:41:20+00:00

If soft cap is not reached by the specified time, the token sale participants will receive an ETH refund. Their DISTXR tokens will be redeemable for ETH rather than for tokens.

Teams are able to run another token sale at a later date to try and reach soft cap again, if they wish. It is quite a risk free process for all involved.

Can I create my token through DistX?2020-10-27T03:44:58+00:00

Yes! As part of the “token sale creation” process you can opt to create your tokens. Simply enter the symbol, decimals, max supply etc and we’ll help you to create your tokens and use them for your token sale.

We only allow creation of basic, non-mintable ERC20 tokens with no special functionality.

This is all included in the fixed fee, no extra cost.

Does DISTX do KYC on token sale participants, or teams?2020-10-27T03:42:33+00:00

There is no KYC for token sale participants. The teams add in their individual token sale terms and conditions or disclaimers and the participants must agree before contributing. Teams also select which regions are eligible to participate in their token sale. If you are not in an eligible region, please do not participate.

DistX does carry out basic KYC on the teams before their token sales can become live. This eliminates “anon” teams and helps fight against various future scams. DistX will also do some research into the project and social accounts. Teams (founders etc) may choose to remain anon publicly, but will still need to reveal themselves to our team privately to pass KYC. Token sales will not be possible without teams completing KYC.

What are the costs/fees to create a token sale on DistX?2020-10-26T02:17:48+00:00

DistX charges a fixed fee of 2% of the raised ETH during the token sale, as well as 2% of the tokens on offer in the token sale, which are distributed to our top 200 token holders.

The ETH fee covers token distribution, so you won’t need to cover gas sending to potentially thousands of token holder recipients. It also covers our time and the use of the platform allowing you to easily run a token sale with minimal time, effort or risk required on your part.

The benefit of automatically adding 200 more token holders to your token sale is significant. It will likely grow your community instantly, as well as gain more attention for your upcoming token sale as our top holders wait in anticipation.

Example: You run a token sale, and sell 25M tokens for a total of 1,000 ETH. The fees would be 20 ETH, and 500,000 tokens would be kept aside from the 25M and distributed to our top 200 holders.

Fees come into effect once soft cap has been reached, which would mark your token sale as “successful”.

There is no up front fee to run a token sale.

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