modum.io | Minting and Distribution Process Overview
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Minting and Distribution Process Overview

Minting and Distribution Process Overview

As outlined in our Whitepaper on page 15 under the headine “Minting of MOD Tokens”: MOD Tokens will be distributed no later than 30 days after the token sale has closed. The MOD Token sale is scheduled to close on September 22, 2017. Minting and distribution will occur, at latest, before October 22nd, 2017. We will keep you updated on the process after the token sale closes.

The code for the creation of MOD Tokens is open source, please visit our github page to learn more. The proper distribution of MOD Tokens is the first milestone for token holder voting rights. After the tokens have been distributed, token holders will be given the opportunity to vote on whether or not the process occurred successfully. A positive vote will release the first block of internally held tokens. The voting process will happen in a dedicated web app that will be distributed to each of the token holders after the token sale concludes.

All investments are allocated by their confirmation time to the respective bonus tiers. Oversubscription of a bonus tier will be allocated to the following tier. An oversubscription of the entire token sale will be returned to the respective investors.

We are currently asking all investors to verify the wallet that they created in the MOD Token sale web app. To do this please follow the instructions outlined in this video. Verifying your wallet will ensure that you are able to access your tokens when they are distributed. If you have any trouble with your wallet we can create a new deposit address for you so that you do not lose your tokens. After the tokens have been distributed we will not be able to help investors access their tokens from inaccessible wallets.

Before the distribution of MOD Tokens occurs, every investor will receive an email with the final number of modum tokens that they will receive and the date and time of distribution to their token sale wallet. For more information on regulatory and legal aspects, see the Token Terms of Sale.