An Update on Token Distribution and Identity Verification
We would like to thank everyone for their patience during the WAX Token distribution process. We’re here to update the community on what has been happening and how the WAX team is working around the clock to ensure your tokens are properly distributed.
We are working day and night to get everyone their tokens as soon as possible. We understand this process has been frustratingly slow for some of you. We apologize for our process not being better. In particular, we know many of you have had difficulties working with the KYC ID app. We thought this ID app would expedite the KYC process but instead it has caused a great deal of problems for WAX token buyers.
Here’s a recap of the WAX token distribution process thus far to help you better understand what is happening and what is being fixed:
- As you know, our identity verification vendor has had numerous issues. Some contributors had problems submitting their identity verification, some have submitted documents but not been approved and some have had technical issues with the app. We understand this has been difficult for many of you and for that we are truly sorry. We have been working closely with the vendor and have we have proposed solutions to them to get these problems resolved. Those of you who have not yet completed your identity verification will be sent a personalized link to a web form to enter your information, which will be matched up with the documents you have already submitted. For the majority of WAX token buyers, this will complete the your identity verification process. WAX personnel will contact all others directly.
- Token distribution is having technical issues of its own. At first, it was due to ETH network delays beyond our control. Then during a review of the distribution process, our accounting department discovered a data error which led to additional verification, involving three rounds of testing.
- In the interest of fairness, tokens are distributed based on when a contributor’s identity verification is completed. A substantial number of contributors for whom identity verification has been completed have already received their tokens. Another large group of identity-verified token buyers are in the process of being distributed. We expect it to be broadcast on the ETH blockchain later today.
As mentioned often throughout the Token Generation Event, tokens are set to be distributed “no later than 30 days after the end of the Main Sale date,” which is December 29th. We started the token distribution process a week and a half early and, unfortunately, these unforeseen issues have occurred. Given the committed December 29th deadline, while distribution is taking longer than expected, it is not delayed. Also, any smart-contracted based ERC-20 token does not control when and where tokens are tradable once any of the tokens have been distributed.
We will send an email to all contributors once all tokens have been distributed. However if you are in one of the earlier batches, your tokens may be in your wallet before that email is sent. You can check your wallet to see if your tokens have arrived. If you have a JAXX wallet app or Chrome extension, you should see WAX in your ETH wallet. If you have another wallet you may have to add a custom token using the following info:
Contract Address: 0x39Bb259F66E1C59d5ABEF88375979b4D20D98022
Token Symbol: WAX
Again we truly thank you for your patience and understanding as we work through this.
Thank you and Merry Christmas
The WAX Team