Everything You Need To Know About The DAV Token Sale

Token Icon

Token Symbol

DAV

Token Sale Hard Cap

76,000 ETH

Token Sale Target

Capped, 992,000,000 DAV

Maximum Token Supply

2,480,000,000 DAV

Token Sale Starts

April 30, 2018, at 13:00 GMT

Token Sale Ends
(Whichever comes earlier)

Hard Cap Reached
May 13th 2018, at 13:00 GMT

Token Price

1 ETH = 10,000 DAV

Minimum Purchase Amount

0.2 ETH

Maximum Purchase Amount

150 ETH

Maximum Gas Limit

300,000

Maximum Gas Price

50 Gwei

Tokens can be purchased with

ETH

Protocol

Ethereum, ERC20

Tokens Received

Immediately

Tokens Transferable

14 days after sale ends

Requirements

Whitelist & KYC here

The DAV Transportation Network Token Sale - Everything you need to know:

We are very grateful for the patience the DAV community has shown us over the past months while we worked hard to get to this point -- we can now finally announce the details of the much anticipated DAV token sale. It takes significant thought and planning to engineer the birth of an economy, taking into account an array of complex factors, including legal, financial, and technical.

Hard Cap Represented in ETH

As of today, we are switching to an ETH-based hard cap instead of a USD-based one. This change is to promote clarity and speak in one language throughout the sale process, to reduce confusion arising from a potentially volatile USD/ETH ratio. The current USD/ETH rate is set at $500 per 1 ETH, which translates to a 76,000 ETH hard cap ($38M). Two days prior to the start of the token sale (April 28th 2018), we will lock the USD/ETH rate using the 24-hour volume weighted average price from coincap.io, and adjust the ETH-based hard cap using that final rate to reflect our $38M hard cap, and this page will be updated accordingly. From that point on and until the end of the sale, no updates or changes will be made in response to changes in USD/ETH rate. The total token supply and the total of tokens for sale will be updated in the same proportion as the ETH based hard cap.

Pre-Sale

Among the many things we are doing to ensure the longevity and stability of the DAV Network, we have been conducting a presale of DAV tokens. The original soft cap has already been reached and the project will proceed regardless of the main token sale’s outcome. We are continuing our presale with a focus on contributors who are able not only to help fund the project and secure its future in advance of the main token sale, but also who can add value to the project in the form of partnerships, exposure and advocacy.

We have received a number of concerned responses as to why the minimum participation in the presale was as high as 1000 ETH, and we would like to take this opportunity to address this question.

According to the latest FINMA (Swiss Financial Market Supervisory Authority) guidelines, because the DAV token is a utility token and not a security, the rights of purchasers resulting from the SAFT to receive DAV Tokens at a future date should not be issued in a way that is "standardized and suitable for mass standardized trading." Otherwise, any such rights acquired under the SAFT would be classified as securities under Swiss law. Also, the DAV Foundation must not issue such rights in a way that the same rights are placed in identical form with 20 or more investors. As it is our responsibility to diligently comply with Swiss regulations, we could only permit a small number of contributors to participate, who bring value to the project both in terms of securing its funding, and also by creating awareness and helping the foundation form strategic partnerships today and down the road.

Expected Use Of Funds:

45% - Research and Development

15% - Marketing and Business Development

20% - Expansion & Operations

10% - General & Administrative

10% - Legal & Compliance

Token Allocation:

Token Locking:

Smart Contract Audit and Release:

The DAV token and crowd sale smart contracts are currently undergoing the last phase of review regarding safety and reliability as the launchpad for the DAV network. The audit is being conducted by Zero Knowledge Labs, one of the most reputable smart contract audit firms in the world. As soon as the audit is complete, we will release both the findings and the complete smart contract source code on the DAV GitHub.

Legal & AML/KYC:

In striving to create a viable blockchain based transportation infrastructure, we are continuing to add to our team some of the best and most experienced minds in both blockchain and transportation. In the legal realm we have been fortunate enough to have Ms.Tung Chan, the former General Counsel of the Ethereum Foundation and former 8 year Securities Commissioner for the State of Hawaii, join us as the new General Counsel of the DAV Foundation. As an organization dedicated to adhering to the rule of law, we are responsible for compliance not only in our domestic jurisdiction of Switzerland, but also in international ones, and Ms. Chan will take on this complex orchestration beginning from April 2, 2018.

The following post is dedicated to whitelist / KYC and contains information regarding:

  1. 1Registration start date
  2. 2Prerequisites
  3. 3Step by step guide on how to participate
  4. 4FAQ / Troubleshooting

IMPORTANT NOTE: Participation in the token sale is not permitted for citizens or residents of the USA and China. Registration (and KYC) will be completely blocked for USA/China ID documents, as well as from US/China IP addresses.

Main Token Sale:

Receiving / Transferring DAV Tokens:

Tokens purchased at the main token sale are received immediately after the token sale is concluded. Tokens are not transferable for up to 14 days.

To add DAV as Custom Token within your ERC20 compatible wallet:

  1. 1Click 'Add Custom Token'
  2. 2Enter the Token information below:
    • Token address: [Will be announced before the token sale]
    • Token name: DAV
    • Decimals: 18

Important Warnings

Final Note

We are deeply grateful to each and every one of you for your support and for sharing the DAV vision with us. As members of the DAV community you have a special role in helping shape DAV’s development and rollout -- your input is important to us, and we will continue to listen carefully to your valuable feedback. We are encouraged by what the future promises and very much look forward to sharing this exciting journey with you!


The DAV Team