I’m working on filling out exchange listing apps. The more reputable the exchange, the more detailed and specific the questions. For example, the questions below come from Coinbase’s application. I’m sharing this list because if I can get these answers, I can populate pretty much every exchange listing app. Can anyone DM me with or point me in the direction of where I can find details on the following:
Token allocation: Describe the allocation of tokens (providing a chart, graph, or percentage-breakdown if applicable) noting any allocations to a token sale, presale, founders, advisors, employees, a foundation, or any other individual or entity that may have received tokens.
Investment: Describe any venture or other equity capital that the Project Team may have received. If the Project Team raised capital, indicate whether the investment was for tokens or traditional securities (equity or debt) issued by the Project Team.
Token sale: Was a token sale of any sort conducted? Examples include a presale, “SAFT” sale, Initial Coin or Exchange Offering (“ICO” or ”IEO”), or sales of any instruments convertible into tokens.
- When did such sale or sales took place?
- How many tokens were sold?
- At what price or prices?
- How many purchasers participated?
- To the extent available, describe the purchasers -
- If any, what type of discounts were offered or bonuses implemented?
- Describe the terms of any lock-up or vesting periods. Indicate if they are time-based, event-based, or have elements of both -
- Explain any token purchase limits (maximums or minimums) -
- Describe (i) how the pricing of tokens was determined, (ii) if such prices are reasonably consistent with the reasonable market value of the token’s consumptive use (e.g. the goods and services obtained through the token, if applicable), (iii) whether the amounts purchased by these purchasers was consistent with prospective consumption of the token for its intended usage or whether the purchase amounts are more indicative of investment, and (iv) if the network or other system encourages consumption of the token or discourages holding the tokens for investment (e.g. devaluing idle tokens or slashing).
- Describe the intended use of the proceeds and whether the amount raised was equal to, less than, or greater than the amount necessary to complete development of the platform.
- Describe the state of completion and functionality of the token/network on the date of the initial sale, as well as any contemplated future development, plans or designs intended at the time of the initial sale.
- Describe the current state of completion and functionality of the token/network, as well as any future development currently contemplated.
- Was the sale open to US investors? If so, was it limited to Accredited Investors? How was “Accredited” status verified?
- What identity information, if any, was collected from purchasers? How was this information verified? Could purchasers acquire the token without KYC/AML checks?
- Describe any excluded purchasers or jurisdictions. Was sanctions screening performed on purchasers? If so, how?
- Describe whether any paid promoters (i.e. persons paid to promote the sale of tokens for a fee) were used, how they were compensated (e.g. flat fee or percentage of sales) and what services they provided.
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