Private Token Sale
This page will walk you through all the Jubi features and what you need to know to participate in a token sale/pre-sale facilitated by Jubi.
You’ve been invited to participate in a private token sale, which may be a pre-sale/SAFT, for brevity we will just refer to it as a token sale.
A Jubi token sale page
To better understand the context of your purchase and help inform your decision, all relevant information is displayed on the page. To understand what everything means, have a look at the What’s on the screensection.
When you are ready to purchase, complete the following:
To connect your wallet, click on the button.
A pop-up will give you various options for connecting your wallet, you may see different wallets depending on the wallet extension that you are using.
once you are connected, the connect wallet button will disappear, and you will see the wallet toolbox on the bottom right of your screen
You can use the toolbox to switch to a supported network, or disconnect from the dApp
Each token sale is chain specific, so you may be asked to switch networks when you execute the purchase.
once the form is completed, the "Sign and Pay" button will be enabled,
allowing you to start the purchase process with a click.
Please take note of the smart contract address, as you will be interacting with this contract after signing, and can use the address to validate your transaction. The address is also noted as the Round Contracton the page.
The signature request will ask you to cryptographically sign the following terms
Signer: This is your wallet address. The owner of this wallet will be able to claim tokens purchased in the sale
NumTokens: The number of sale tokens you are purchasing. This number is in 18 decimal notation as that is the standard for ERC20 tokens. This means that if you are purchasing 1 token, this number will be a 1, followed by eighteen 0s.
TokenPrice: This is how much stable coin will be taken from your wallet for every 1 token you are purchasing. In our example, the purchase token is $USDC, which has 6 decimals, so a $USDC 1 token price will be denoted as a 1 followed by six 0s.
The venture that is selling the token has also signed these terms for all possible tokens that are up for sale. Paired with your signature it constitutes a signed contract of terms between the buyer and the seller.
The transaction will submit your signature of the terms, as well as the number of tokens you wish to purchase. When you approve the transaction, the
On completion of the purchase, you will be presented with the transaction hash that you can view on a block explorer. This transaction is a record of your purchase, including the amount of tokens you purchased and how much you paid for them.
The details presented on screen are intended to help you make an informed decision when purchasing tokens.
This box full of numbers gives you all the details of the token sale, and can help you make a decision as to how many tokens you would like to purchase.
This number is the total number of tokens up for sale. The sale will be automatically be closed once this allotment of tokens have been sold.
The cost per token being sold by the venture, typically in $USDC or another stablecoin
When all tokens allocated to this sale are purchased, the venture will have received this much in $USDC. This is sometimes referred to as the raise amount.
The Token Price x The Total Number of Tokens at Initial Mint, this represents the valuation of the venture as at the commencement of this sale. This could also be seen as the fully diluted value, though that investment term does not always directly translate to tokens
This is the minimum number of tokens to be sold for the sale to be considered succesful. Until this amount is reached, all proceeds from the sale will remain in escrow. If the venture running the sale closes it prior to reaching the hurdle amount, you will be able to claim back your full purchase amount.
The total number of tokens that will be minted on the token launch date. This figure is used to calculate the % share of the token pool that you will own at the time of minting.
To ensure long term alignment with a project’s success, a venture may chose to employ a distribution schedule. The details of this are captured by the following:
This is the date at which the distribution schedule starts for tokens purchased in this sale, this could coincide with the token minting date, please refer to the venture’s whitepaper or communications regarding this sale.
If the token mint is ahead or behind schedule, the venture can set the distribution date to start immediately when they deposit the sale tokens into the smart contract. This can only be set when setting depositing the token, and only if the token did not exist when creating the sale.
Once the schedule starts, the tokens will be locked in the sale contract for the locking period. No tokens will be claimable during this period.
This is often done to protect the token price from dumping
When the token lock periods ends, the tokens will be released for claiming over the specified number of months. This happens linearly, so you can claim at any point and the relevant portion amount of tokens due to you will be available.
This block provides some more details about the company and the sale. If you have purchased tokens, it will be collapsed.
Just what it says! The venture name, and the name they have given to this sale of tokens.
The sale progress bar details how much of the tokens have already been purchased.
This is where you can go to find more details about the venture, typically links to a white-paper, and how to join their community.
The smart contract managing the sale. You can inspect it using a block explorer by clicking on the link. The owner of the contract will be the project wallet, which you can verify under the Contract section of the block explorer:
This is the nominated treasury wallet of the venture, It has signed the contract terms that you are signing as part of the purchase, and will receive the purchase funds if the hurdle amount is reached.
Each token sale has terms of agreement and sale. You should read the specific contract terms for this sale as it has potential legal and tax implications. You will be signing this contract with your wallet as agreement of the terms. Any claims will require proving that you are the owner of the wallet that signed the terms and executed the purchase. If the venture is using the Jubi template for a SAFT or token subscription, you are in good hands and the terms are fairly standard and fair.d to.
Most of those agreements largely consist of agreed outcomes which have already been captured in the smart contracts and will automatiocally occur if the required conditions are met. The rest of the terms typically include disclaimers, acceptance of risk, and more - these are detailed in the textual terms which you will be signing along with the parameters of your purchase.
The Jubi smart contracts take care of the delivery schedule on-chain - calling the purchase function will result in the required funds transferred from your wallet, and your claim to tokens recorded. The jubi smart contracts will also enforce the delivery terms and allow you to claim your allotted tokens on the agreed schedule.
The latest purchase transactions will show up here, including your holdings if you purchased tokens. The value of your holdings is based on the price per token of the sale, and not market prices if the token is also publicly traded.
To inspect all the purchases you can follow the link to a block explorer.
To execute a purchase, you have to complete the purchase details form.
You have to agree
- 2.To the terms of sale set by the company. They may be using the Jubi SAFT or Sale templates, or have provided their own. You should be familiar with the contract terms before making the purchase.
- 3.That you are not a sanctioned person.
- 4.You have to declare that laws of the jurisdiction that you are in allow you to make this purchase.
You can only participate in the sale if the venture has supplied you with a unique invite code.
Each invite code has a minimum and maximum purchase amount, and once its been used no other wallet can use it. You can however make as many purchases as you like until the maximum purchase amount has been reached.
You can also use more than one invitation code if you would like to purchase more than the maximum amount.
Tokens to purchase is the number of sale tokens that you would like to purchase not how much you would like to pay. Changing this number will automatically update the Purchase Amount based on the token price.
The purchase of amount is the number of tokens that will be transferred from your wallet in exchange for the number of tokens you specified. You will be able to claim these tokens in accordance with the distribution schedule detailed at the top of the page.