modum.io | Investing with IOTA, using mobile devices, etc. Final notes from the modum team before the MOD Token sale
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Investing with IOTA, using mobile devices, etc. Final notes from the modum team before the MOD Token sale

Investing with IOTA, using mobile devices, etc. Final notes from the modum team before the MOD Token sale

In the hours leading up to the MOD Token sale the modum team would like to thank everyone for their active interest in modum and the MOD token. Through Slack, Telegram, Twitter, E-mail, Facebook, and LinkedIn we have received an incredible number of comments, questions, and positive feedback regarding our project.

Before we go live, we wanted to clarify a few questions that have come up more than once this week:

IOTA Payments are running successfully

We have spent the week testing payments using the IOTA token. We are excited to be one of the first token sales to allow IOTA as an accepted cryptocurrency. The first transactions using IOTA were confirmed successfully, with confirmation times varying greatly. Due to the nature of IOTA network it is very difficult to forecast transaction times. For those who intend to invest IOTA tokens we would like you to be aware of the following:

  • Based on early investments using IOTA we have found that transactions from Bitfinex take significantly longer to confirm than transactions from personal wallets.
  • Transaction confirmation times depend on the node you choose.
  • If your transaction is pending for a long time you can try to reattach it or resend it with a different node.

Transactions can only be accounted for once they have been confirmed.

Investing using a mobile device

 In the MOD token sale web app, after confirming your email address, you will be asked to choose a wallet for receiving your MOD tokens. You will have three options to do so:

  1. By creating a new MEW compatible wallet and downloading a JSON file.
  2. By uploading an existing UTC JSON (My Ether Wallet) wallet file.
  3. By entering a valid Ethereum address manually.

If you would like to create a new wallet for the tokens we recommend using a computer so that you can access the downloaded JSON file. However, if you are limited to using a mobile device without the option to download the JSON from the app, you can use option three and enter a valid Ethereum address manually. Make sure that you own and have access to the private key of this address.

Investing again during the public crowd-sale for pre-sale investors

Our early investors generated deposit addresses for BTC, ETH, and IOTA payments during the token pre sale. These addresses will still be valid during the public sale and can be contributed to as often as desired.

If you are an early investor who was invited to participate in the pre-sale before IOTA was a contribution possibility, you will be able to invest using IOTA during the public crowd-sale. To do so, enter your E-mail again in the first step of the app to generate an updated investment summary, which will be immediately E-mailed to you. The new investment summary will contain the same BTC and ETH addresses that you used during the pre-sale and a new IOTA address for you to use during the crowd-sale.

Validating your JSON wallet file

 You can upload and test the wallet file created using the MOD Token sale app at myetherwallet.com. Upon uploading a valid JSON wallet file and entering the correct password you will see an empty wallet. We will provide you with the information on how to add custom tokens to this wallet following the MOD token sale.

Taking necessary precautions

Last but not least: Be careful, always check the URL, cross check your deposit addresses in the browser and e-mail and please contact us using our online contact form, or email if you have any issues.