Hello prospective Filecoin investors,
The last week has been quite a whirlwind. We've been finishing final preparations for the big day Monday. This update concerns important sale mechanics and economics, and — though it does not address everything people have been asking about — it should mitigate the biggest concerns some groups have voiced. We wanted to get this update to you asap, but we needed to land it in code and test it thoroughly before making a public announcement.
Based on overwhelming feedback from you, and careful thought, we are making the following two changes:
- (1) All investments made in the first hour will treated equally, and given the same price.
- (2) Crypto (BTC, ETH, ZEC) exchange rates will be based on an HOURLY average, not a daily average.
Additionally, we have to make this change based on legal counsel and constraints:
- (3) The minimum investment has been raised from $10 to $500.
We know there is no perfect solution, and that we are asking you to take in a significant update in a short amount of time. However, we concluded that making change #1 is really important for the broader community, especially for small investors, and we have decided to make these changes to maximize the "investor fairness" measure.
More details are in our latest post:
As always, please email us at email@example.com with any questions.