Gems

Does Gems have a hard cap?

Yes! Gems has a hard cap that decreases with time. When the amount contributed = the hard cap the token sale ends.

What is the hard cap?

Like Raiden and Polkadot, it starts out really high (30bn) and ends at 15m.

Why does the cap start out so high?

This ensures that no single person could buy all of the GEM tokens at once. The cap quickly decays, allowing people to participate where they feel comfortable.

How can I participate if I don’t know the hard cap?

When the hard cap has met an area you are comfortable with, participate! You will make sure you get the amount of tokens you want.

Will I pay a different price if I buy later in the sale?

Everyone pays the same price in the token sale. This is for fairness. Bonuses are awarded based on your tier and the time you sent, but besides the bonus the price paid per token is the same.

How many people are whitelisted?

There are less than 250 people in the sapphire tier, less than 2500 people in the emerald tier and less than 20,000 people in Ruby.

Was everyone whitelisted?

No. There are over 60,000 people in our Telegram, WeChat, and KakoTalk groups. Over 35,000 people submitted a form. The community graded them and not everyone who submitted the form was accepted. Only the top 500 reviewers of applications were allowed on the list. We admitted some reviewers who did not have the best accuracy because in all fairness they helped test how prepared we were for bots and poor results.

What is the Gems Company do with the 75% of their tokens?

Gems needs to create a marketplace. You have seen marketplaces! Think Uber, Lyft, Airbnb. The held Gems tokens will go to securing partnerships with companies that will use the Gems Platform. Tokens will also go to encourage new workers onto the platform, incentivize existing workers, and long term company expenditures. Rather than break down the specific chunking method, we lumped it into one total sum - we should break this down further and better explain.