Updated FAQ regarding Public Sale

Updated FAQ regarding Public Sale

Topic: Sale Mechanics

What are the benefits of buying $SIPHER at IBCO and not after the public sale?

The price of $SIPHER after the IBCO could be higher on an exchange (DEX or CEX) afterward, in the case a lot of investors decide not to sell their tokens that they just bought but the demand to buy from new investors (who did not participate in the IBCO) is high then following the supply & demand formula, new investors who want to own the token have to pay a higher price.

Successful buyers of $SIPHER at IBCO also will be the only people with access to the staking rewards once the staking pool is launched as they hold the only freely traded supply at that point in time. The early birds get the worms so they say.

When should I buy during the 72 hours of IBCO?

Sipher gives our community 72 full hours so it doesn’t matter when prospective participants decide to put in money. If prospective participants aim for the last minute to see how the price is doing, then there could be two possible scenarios:

A. If the price is low and everyone is FOMO-ing at the last minute then some transactions might not go through like in our recent NFT Sale.

B. If the price is high and prospective participants don’t believe that others have confidence in the project then they could buy on a DEX or later on CEX at a maybe higher price after being more confident.

Will the 40,000,000 $SIPHER tokens reserved for Public sales be locked and|or vested after?

No, the Tokens will be immediately tradable by their owners right after IBCO's end.

During the IBCO what is the advantage of depositing early vs later?

If you are confident in the project and are already decided about the total amount you want to contribute then you just choose the time for deposit that is the most suitable for you within the 72 hour sale period.

Depositing early and during periods of low gas will ensure that your funds are safely committed and you can safely go about your day without worrying about missing out in case you won't be able to deposit at later stages due to network congestion.

Depositing later or at the very last moment could subject you to highly unpredictable congestion periods with very high gas prices.

What are some of the projects that have done an Public Sale and what were the performances?

Aurory $AURY fully diluted market cap is at 1.4bln

Star Atlas $POLIS fully diluted market cap is at 2.76bln

Thetan Arena $THG fully diluted market cap is at 5.7bln

Illuvium $LUV fully diluted market cap is at 13.7bln

What is the market cap for $SIPHER token?

The public sale will be for 40,000,000 $SIPHER tokens and these will be the only freely tradable in circulation at launch. Theorizing at the minimum sale price of 0.36$ for the public sale, that would be a 14.4mln market cap and 360mln fully diluted market cap.

If you do some research looking at other projects like above in the market then you can make some comparisons regarding this for yourself.

What are the token prices in the Seed round or Strategic round?

In the Seed Round, $6,800,000 USD was raised for 113,000,000 $SIPHER with a lock-up period of 18 months (16 months from the time of TGE) with a 18 months monthly vesting after that.

With regards to the Strategic Round, as discussions are in progress and will not conclude anytime soon, we are unable to share the Token Price. However, these Tokens will be sold at a higher price than our Seed Round Contributors, and will be subject to the same lock-up of 16 months, followed by an 18 months or more vesting period.

In comparison, the Public Sale tokens are immediately unlocked and free tradable by the IBCO buyers, allowing them to participate in any price appreciation and staking rewards.

Why is the Public Sale price higher than the Seed Sale price?

Besides capital, VC's bring SIPHER immense value over the long term such as:

  • Market access to different countries & important stake holders
  • Help with hiring & building our team and advisors
  • Facilitate connections with other key players in the game: L2, Blockchain solutions
  • Advice on strategy & growth of the company
  • Advice on blockchain tech, game tech, game-economics know how

Our VC allocations are also locked up and take a very long term commitment & low-time preference position. We believe our allocation to VCs is thus completely fair and the support of our VCs AND our community is essential to the success of the project and the game in the long term. They have a lock-up period of 18 months (16 months from the time of TGE) with a 18 months monthly vesting after that.

Where as public sale tokens are freely traded and freely to stake right away, potentially earning staking rewards as soon as the rewards are live.

This is why the price they receive is such.

As always, this is not financial advice, and please always do your own research

What price will the IBCO most likely end at and how will the price perform after? Will there be a large upside?

This is difficult to answer and everyone should do their own research and it might help selecting another project as a benchmark and make assumptions about Sipher's future valuation.

With 20 guild partnerships, and an engaged Discord community of 169,420+ members, we think the force is strong with this one.

As always, everything in crypto is still in its nascent stage and thus is inherently risky. You should always do your own research on each and every project and never expect the price to go up only. Please act responsibly, preferably only use the money that you can afford to keep dormant for a long time. Please don't be this guy.

During the IBCO, prior to the end, can I withdraw my money after depositing?

Yes, everyone can withdraw their money in case of having second thoughts. But to prevent whale manipulation and bots, if you deposited a certain amount over a certain threshold then you might not be able to withdraw 100% of your funds back and a percentage will stay locked in.

We will also provide a visual indication of how much $ETH you will be committing for your respective deposit amount.

The formula will automatically calculate the potential Locked-up amount if the user contributes certain amount of ETH.
The formula will automatically calculate the potential Locked-up amount if the user contributes certain amount of ETH.

Do users need gas to commit/withdraw $SIPHER after purchase? How much will gas cost to deposit and withdraw my money (ETH)?

Like with every transaction on networks like Ethereum, Binance Smartchain, Cardano, Polkadot etc. a gas fee is necessary with the cost depending on how fast the transactions can be confirmed. Please refer to sites like https://ethgasstation.info/. Right now we are estimating roughly ~$50 (depending on Network Congestion) to deposit and withdraw your $ETH, and to withdraw your $SIPHER during and at the end of the IBCO respectively.

What if whales come in and buy them all?

Everyone buys in for the same price, if a whale puts in 1000$ and you put in 1$, each will get the same price per token, just different amount of tokens depending on the % of your contribution versus the total committed pool.

Why isn't the token price fixed?

You're participating in an innovative distribution mechanic that protect retail

The public sale for the Sipher token ($SIPHER) will start tomorrow and last over the next 3 days (72 hours).

4% of the total token supply will be sold via our customized & improved IBCO mechanic. This system works as follows:

Anyone (except excluded countries) can deposit ETH (Ethereum) via our website.

At the end of the 72 hours sale, the deposited ETH is traded with the SIPHER tokens and $SIPHER is distrubuted accordingly in proportion to all who deposited ETH.

At any time during the 72 hours, depositors can withdraw.

Specifically to counter whales and bots, we implemented a first of its kind "conviction curve mechanic".

This is ≠ traditional fundraising via an ICO platforms like Coinlist and Launchpads, where they employ whitelists that only benefit their communities.

Fundraising using this mechanic allows us to open and enlarge our community, ultimately gives multiple stakeholders part of the upside of Sipher at a very early stage.

We hope to facilitate real-time price discovery for our token, and importantly, validated Sipher’s ability to constantly innovate on new blockchain features and mechanics on Ethereum.

What is the token distribution?

You can find more information about that in here

Will there be a cliff (lock-up) and vesting period for the tokens released via public sale? What about the tokens distributed in other methods or to other groups?

There won't be a cliff or vesting period for the tokens distributed via public sale.

All other tokens distributed will have a lock-up and vesting period. You can find more information here

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What happens when I use the "withdraw" function within the Public Sale? Why does the dashboard show "locked tokens" during the public sale, does this mean I won't be able to transfer or trade my tokens after the sale?

During the $SIPHER public sale period, you may withdraw previously deposited ETH if you change your mind at any time. This withdraw function will return ETH to your wallet and reduce the amount of $SIPHER token you will receive at the end of the public sale.

In order to minimize manipulation, we have also instated a "lock-up" mechanism only for the duration of the public sale. For deposited amounts over 1 ETH, a portion of your pooled ETH will become locked up and unable to be withdrawn during the remainder of the public sale.

The locked-up ETH amount is binding for $SIPHER token purchase that will be concluded at the end of public sale when a final settlement price is established. All the $SIPHER tokens sold during the public sale are not subject to vesting and are freely transferrable/tradable when claimed.

Topic: Claiming, Trading, Staking & Liquidity Provision

I've deposited and contributed funds (ETH) in order to receive $SIPHER tokens. When do I receive my tokens?
  1. Claiming your $SIPHER Tokens You will only be able to claim your $SIPHER tokens after the end of the Token Sale on 9th December, 1am UTC. There will be a dedicated claim page, where you will be able to see your final allocation of $SIPHER tokens based on the final settlement price.
  2. Regarding the Withdraw Function during the Token Sale The 'Withdraw' button during the Token Sale is only used if you wish to reduce or withdraw your $ETH contributions to the $SIPHER Token Sale. Submitting a withdrawal does not allow you to claim any $SIPHER tokens, and only reduces your contribution.

After the public sale ends, and I claim my $SIPHER tokens, how can I view the amount of tokens I own within MetaMask?

If the claiming process does not automatically prompt you to add the token to your list of tokens in MetaMask, you will need to go through the process of adding a custom token.

To do this, you could follow the guide in this link, and use the following contract address: $SIPHER Token Contract address - 0x9F52c8ecbEe10e00D9faaAc5Ee9Ba0fF6550F511

We've also included a short guide below:

Step 1: Open MetaMask on your browser and ensure the following:

  • You are connected to the "Ethereum Mainnet" network
  • You are in the "Assets" tab within MetaMask

Afterwards, click on "Import Tokens" all the way to the bottom of the list of your tokens

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After clicking on "Import Tokens", you should now see the following screen:

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Step 2: From the screen shown above, you will need to click on the "Custom Token" tab. Within that tab, you will need to paste the following address into the "Token Contract Address" field: 0x9F52c8ecbEe10e00D9faaAc5Ee9Ba0fF6550F511

The rest of the fields should automatically fill-out afterwards.

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After you've completed the above, click on "Add Custom Token".

Step 3: You should now see the following screen. Click on "Import Tokens"

Note: the amount of tokens shown for you will be the amount of tokens that were allocated to you.

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That's it, you've successfully added the $SIPHER token into your MetaMask! Now you can view your token balance in your "Assets" page within MetaMask (as shown below).

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Will $SIPHER be listed on Uniswap? When?

$SIPHER/$ETH will be available on Uniswap V2 or V3 for trading shortly after the IBCO is completed, on the 9th December after 1:00 UTC.

Will $SIPHER be listed on a Centralized Exchange like Binance, FTX, OKEx, Houbi etc? When?

Our listing team is currently in active preparation discussion with top tiers centralized exchanges. There is no fixed timeline, please stay tuned for more information.

What are the details about the release schedule of 30.4% tokens allocated to Game Incentives & Marketing. What does it mean by “release over time based on demand”

It means that for 'Game Incentives and Marketing', the Sipher Team can adjust the amount of tokens being released to facilitate the growth of the project via various kinds of incentives. Some examples of these include gameplay incentives (e.g. ranked matches and tournament prizes), game related marketing incentives (e.g. streaming and evangelizing), airdrops for various participation activities, and more.

When will there be staking? Will there be rewards for $SIPHER/$ETH liquidity provision?

We plan to open our staking pool and liquidity provision staking incentives pool shortly after the token launch. Information is to be determined and announced at a suitable date.

Topic: Ethereum network, Metamask, Trezor Wallet

If you are having trouble connecting your wallet and you're using Metamask, please try the below instructions
  1. Restart Computer
  2. Clear browser cache
  3. Re-login your metamask wallet
  4. Make sure you're on ETH mainnet
  5. Login again to the page (In case it doesn’t work)
  6. Try with different browsers, same thing.
  7. Try downloading Metamask App on mobile. Login into the Metamask App, use the app browser
Can I use my Trezor hardware wallet?

UPDATE 8th December 12:30AM Indochine Time Due to popular demand from our Trezor Hardware wallet users, we have implemented the legacy system that supports all Trezor Hardware wallet right away. We do this by creating a subdomain under https://trezorwallet.sipher.xyz/token-sale specifically for Trezor Users

Using this domain, you can use your Trezor Wallet as per normal.

For users who go into the site via the main https://sipher.xyz website, once you click on connect wallet, you will get a prompt to select Trezor Option if you're using Trezor Wallet, which will lead you to : https://trezorwallet.sipher.xyz/token-sale . Once you are at this sub-domain, you can proceed as per normal, connecting your Trezor via your metamask and deposit ETH!

See attached images

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Optional Old Solution

Yes, however, there is limited support, and a specific set of instructions needs to be followed in order for this to work - we have tested with the TrezorT method and confirmed that it's working.

Assumption:

  • Customer using latest Trezor firmware (2.4.2)
  • Connect to website via Metamask
  • Using Chrome browswer

Walkthrough:

  1. Download and downgrade Metamask to version 9.8.4 (pls check and follow this guide)
  2. Open Trezor Suite, access to Device screen, inside Security Check, switch to Prompt (check the attach picture)
  3. image

Note: we must recommend people to perform this method on a new browser account so it's won't mess up their current Metamask setup, and they should also switch back the Security Check of Trezor to "Strict" after they done. However, do note that these steps are to be performed at your own risk, and Sipher will not be liable for any loss of funds.

Can I use WalletConnect?

Yes. We have tested WalletConnect and it works perfectly. However we still recommend you to use MetaMask.

Why is Mobile currently not supported? UPDATE: MOBILE IS NOW SUPPORTED BY 10:00 UTC

Due to some technical challenges, the mobile version will not be ready right away at launch. We are working hard on it and it will be updated on the main website accordingly. UPDATE:

Mobile Version will be ready to push up and live at 5PM Vietnam Time or 10:00 UTC There might be 5 mins of outage because of the website update that might give a 404 error, all smart contract operations are all good and will not be effected.

Once we are live, please instruct mobile users to use either:

  1. MetaMask App - use the MetaMask in-app browser (most recommended solution)
  2. Use WalletConnect on the Website - sign in with MetaMask

Topic: Legal

Which countries are not allowed to participate in the IBCO?

To be eligible to participate in the Token Sale, you must satisfy each of the following conditions (the “Eligibility Conditions”):

  1. If you are an individual:
    1. You are above the minimum age in your jurisdiction to have the legal capacity to enter into contracts and to use, hold, trade, buy, and sell SIPHER Tokens; and
    2. You are not a citizen or permanent resident of, you do not have a primary residence in, and you are not physically located in the United States of America, Albania, Barbados, Burkina Faso, Balkans, Belarus Cambodia, Cayman Islands, Cote D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Haiti, Jamaica, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, South Sudan, Syria, Uganda, Yemen, Zimbabwe, Iran, Iraq, Liberia, North Korea, Democratic People's Republic of Korea (DPRK), Jordan, Mali, People’s Republic of China, Hong Kong SAR, Macau SAR and Turkey or its territories or possessions or any country (A) where participation in token sales is prohibited, restricted or unauthorized by applicable law, decree, regulation, treaty, or administrative act, or (B) where it is likely that the sale of the Sipher Tokens would be construed as the sale of a security (howsoever named), financial service or investment product.

OR

  1. If you are an entity:
    1. You are duly organised and validly existing under the applicable laws of the jurisdiction of your organisation;
    2. You have authorised your Signatory to accept these Terms on your behalf; and
    3. You are not a resident for tax purposes of, you do not have a domicile in, and you are not physically located in or otherwise subject to the jurisdiction of, the United States of America, Albania, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Malta, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, South Sudan, Syria, Uganda, Yemen, Zimbabwe, Iran, Democratic People's Republic of Korea (DPRK), Jordan, Mali, People’s Republic of China, Hong Kong SAR, Macau SAR and Turkey or its territories or possessions.
    4. Please refer to our Website Terms & Conditions (IBCO) for more concrete information and details

Topic: Funny things we hear on the Discord floor

Wen moon? Why not moon? (Please don't be this person 🤦‍♀️)

"Ok, I need Sipher (insert Sipher NFTs / $SIPHER tokens) TO GO UP, like VERY SOON. I can't take this anymore. I am checking price and it is lower. Every hour, check price, lower. I can't take this anymore, I have overinvested, by a lot. It is what it is. But I need the price to GO UP ALREADY. Can devs DO SOMETHING???"

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Topic: Other important links

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Important Disclaimer Acquiring/holding/owning/using $SIPHER and $ATHER tokens does not provide/guarantee you or anybody else dividends or any kind of returns. Acquiring $SIPHER and $ATHER tokens does not provide you with any rights in any jurisdiction. $SIPHER and $ATHER tokens are not a currency but an internet digital unit of non-financial utility that can be used solely in the Sipher ecosystem. The Sipher ecosystem shall not be liable to you or anybody else for any damage or(and) losses arising out of or in any connections with $SIPHER and $ATHER tokens. If you do not agree with any part of this disclaimer please consider leaving this website and never acquiring/holding/owning/using $SIPHER and $ATHER tokens. Any person considering acquiring $SIPHER should consider seeking independent financial advice or other professional advice. Please do not make your financial or other decisions based on the information shared below. Use it solely at your own risk. None of the information is financial advice, so please consider your actions very carefully.