Frequently asked questions answered by the Virtue Poker Team. Join our telegram group to continue to the discussion:
1. When is the token sale?
The token sale will begin at 10am Eastern Daylight Time on April 25, 2018.
2. Is there a pre-sale?
No. There is no pre-sale and no private sale.
3. How do I participate in the Token Sale?
You must register, whitelist your Ethereum address, pass a general assessment test and provide us with some information that allows us to identify you.
4. Why are you requiring that I provide identification? I thought cryptocurrency transactions were anonymous.
This is a regulatory requirement in most of the jurisdictions in which we operate.
5. Is there a bonus in the token sale?
6. What is the final date by which I need to register for the token sale?
We recommend that you register before April 25th 2018 at 10 am EDT, when the token sale starts.
7. I don’t have a utility bill in my name. Is there another option?
Yes. A bank statement or mortgage statement is acceptable as proof of residence. Note that any of these options (including a utility bill) must be dated within 90 days of submission.
8. How does the token sale work?
The token sale will be conducted using a simple sale method. 500 million tokens will be minted, and 100 million tokens will be sold in the sale, regardless of how much ETH is raised. The sale will end when (a) 25,000 ETH is raised or (b) 14 days have passed.
9. What are the applicable caps?
Hard cap: 25,000 ETH
Soft cap: 12,000 ETH
Maximum purchase per token buyer: 10% of total offered tokens
10. Why did you choose a simple sale?
We are looking to create a token offering that is easy and fair. Using the simple sale method, all contributors pay the same amount per token. Since we are not conducting a pre-sale or private sale, and are not offering bonuses, all token buyers have a level playing field in the sale.
11. What happens to the other 400 million tokens?
Here is the distribution of all tokens:
12. Will tokens be traded on exchanges?
Yes. However, tokens are not transferable until after the Virtue Poker system is launched on the Ethereum mainnet. We expect the Phase 2 token sale to take place in conjunction with the launch.
13. Can I participate in your Alpha/Beta software tests?
Yes; in fact, only token buyers and a select group of testers can participate. Individuals who participate in the token sale will have exclusive access to the Virtue Poker private Alpha beginning on or about May 22nd. Virtue Poker will be deployed on a test network with test VPP (tVPP); players can use their tVPP to compete to win prizes throughout the duration of the Alpha.
In addition, as a token buyer, you may be eligible to participate in the closed Justice System Alpha Program. The Justice System Alpha Program is designed so that individuals who participate will work with the Virtue Poker Team to complete the system, and will receive the necessary know-how to run a Justice Node on Virtue Poker. More information about these Alpha programs is upcoming.
14. I live in the United States. Can I participate in the token sale? Can I play on the site?
US residents may not participate in this initial sale; however, you may be able to participate in the Phase 2 sale (pending any regulatory changes).
15. Why are you not accepting token buyers from the United States?
While we believe that our tokens comply fully with US laws and regulations, we have decided to exercise an abundance of caution while the US Securities and Exchange Commission determines its stance on token offerings.
16. When will the client be available to look at?
We expect to release an alpha version of the software by May 22, 2018.
17. What is your relationship with the Ethereum Foundation?
Virtue Poker is a wholly-owned subsidiary of ConSensys, a blockchain software foundry that develops decentralized software and services that operate on the Ethereum blockchain. ConSensys’ co-founder and CEO, Joe Lubin, is the former CEO of Ethereum Switzerland and was one of the founders of the Ethereum Foundation.
19. Is there a demo available that I can look at?
Yes — you can see a demo of the alpha system here. You can also see some of our top poker advisors, Dan Colman, Brian Rast and Phil Ivey, playing a hand of poker on the Virtue Poker platform here.
20. When do you expect Virtue Poker to launch?
We expect to launch during Q4 2018.
21. Contributors’ IDs Verified?
We are excited to take this next step in our journey with you!
YOU SHOULD NOT PURCHASE VPP TOKENS (VPPs) UNLESS YOU INTEND TO USE THE VPPsON THE VIRTUE POKER PLATFORM TO (1) PLAY GAMES AND/OR (2) SERVE AS A JUSTICE. DO NOT PURCHASE VPPs IF YOUR INTENTION IS TO PROFIT BY RESELLING THE TOKENS TO THIRD PARTIES FOR A PROFIT. VPPs ARE NOT INTENDED TO BE AN INVESTMENT AND THERE IS NO GUARANTEE THAT THEY WILL APPRECIATE IN VALUE, OR THAT VIRTUE POKER’S BUSINESS PLAN WILL SUPPORT AN APPRECIATION IN VPP PRICES. YOU SHOULD CAREFULLY READ AND MAKE SURE YOU UNDERSTAND ALL TERMS AND CONDITIONS BEFORE PURCHASING VPPs.