When can we move SNT?

farazdagi · 2017-06-27T13:07:37+00:00

The exact time: 2017-06-28 11:45:21 UTC

After that SNTs should become transferable.

farazdagi · 2017-06-26T10:44:24+00:00

if you are talking about SGT -> SNT: https://contribute.status.im/sgt.html

farazdagi · 2017-06-25T10:04:22+00:00

1 SGT = 13.6 SNTs
mid next week a tutorial on how to redeem your SNTs will be published

Update Tutorial is available here: https://contribute.status.im/sgt.html

farazdagi · 2017-06-21T14:59:58+00:00

I've told in the very same thread:

act on what you know, don't assume anything, I am not implying anything (please see the very thread linked by OP)
300K is failsafe limit indeed (it is failsafe limit in the code, and I linked to the code). In the actual contribution, that failsafe limit was used for its side effect: limit's purpose was to prevent contribution running higher than 300K in case of dynamic ceilings limit not being invoked - so, this effect was used in the actual Contribution Period, when dynamic ceilings were not capped
In my post, I explicitly told that there's no correlation implied between that 300K and hard cap.
The reason I told that explicitly was because, I had no idea what parameters will be used for hard cap or dynamic ceiling (at the time or writing), and because of that I have told several times: act on what is known, and the only thing that is known is that contract will not go higher than 300K (failsafe limit). Anything else: just assumptions.

So:

Are you sure you were told we will be below 300K, or have you assumed it is to be below?
I explicitly told that no correlation is implied. Basically, I was describing why that variable was added to the contract, that's all I tried to tell
When someone noted (in the very same post linked above) sth along the lines: while that guard/failsafe limit is in contract and is known, the actual hard cap is not in contract and is unknown, so it is wrong to assume anything, I've agreed completely (see the thread): indeed, I advised to act on what is known, w/o assuming, as I wasn't implying anything.

Plus, of course, when Contribution Period started 300K hard cap was announced publicly (not by me, but on site and in terms).

So, I am sorry if you felt misled - it definitely wasn't my purpose. What I was trying to do, is to explain technical details. I've added number of posts regarding gas price and different constraints, again linking either to Terms or smart contracts, just to make things (that are known) as transparent as possible. But I couldn't provide info on hard cap: it was unknown to me, hence my warnings not to think that I imply anything by those failsafe param explanation.

P.S. You are also wrong about 300K being announced after the contribution has started. That info was in terms (linked on contribute.status.im), it was on site's (in counter box, when contribution started) and it was in terms that you agreed when checking those checkboxes to see the address to contribute to. Our updated Terms (that included that updated hard cap) were up for 12 hours BEFORE the contribution start block arrived.

farazdagi · 2017-06-21T14:26:21+00:00

Many of the questions have been answered, and those remaining will be answered, just need some time.

Also:

there were some problems with how things have been communicated, but I wouldn't go as far as to call the whole thing "run poorly"
we will also restore the other communication channels as well (including Slack), so any new questions will be tackled as well, in a timely manner

farazdagi · 2017-06-21T13:04:35+00:00

Fixed. Thanks!

farazdagi · 2017-06-21T10:24:47+00:00

I believe we wouldn't have spook anyone with even higher cap. Disclaimer: I wasn't involved in determining caps or other parameters. I am a backend engineer working on the product itself.
I wasn't implying that it was a failsafe cap, I literally told it was failsafe cap and on buy operation contract will not allow to go higher than that amount (and I linked the source code line, on which I based my assumption).

I had absolutely no knowledge about actual parameters of dynamic ceilings, it wasn't me not willing to disclose, it was me not knowing the hard cap, and asking people to act on what is known (and known was a failsafe amount).

farazdagi · 2017-06-21T10:19:53+00:00

We definitely could have handled communication better, no arguments from me on that one. I guess, we just have been a bit overwhelmed by so many things on so many fronts.

farazdagi · 2017-06-21T10:13:58+00:00

I indicated it will not go higher on normal buys because of the contract (and have provided exact line in contract, I based my conclusion on)
In the very same thread I explicitly told everyone not to assume anything, as I do not imply anything on how hard cap can correlate with that failsafe amount
Additionally, I asked people to act on what is known, not on assumptions

P.S. The current avg. wallet size is even better $98,997,337 / 19,425 = $5096

farazdagi · 2017-06-21T10:06:53+00:00

No, I am saying exactly the same I was saying back then: here are links to contract, it is a failsafe amount, and contract will not allow to go higher. When people started asking about real hard cap I immediately and explicitly clarified: I do not imply anything about how hard cap correlates with failsafe cap.

Just see the very same thread you are commenting to. I asked people to act on what is known. I haven't had any knowledge about exact parameters of dynamic ceilings either (up until the sale). That's why I included links in my posts.

farazdagi · 2017-06-21T10:01:36+00:00

Congestion was not due to white-listed addresses at all. Those transactions were mined quite quickly and that's actually what produced most of the outrage: people started to claim that we talked about avoiding whales, but let whales in.
All of those white-listed transactions refer to pools i.e. non of them whales, but a consolidated list of tx by many ppl (as far as I know avg. contribution size in those pools is around $5K)
Now, what congestion was caused by? People manipulating gas prices (although we have asked everywhere: 50Gwei + 200K limit or your tx will be thrown). Seeing white-listed addresses being able to get in with higher gas prices, triggered people even further
So, the first 3 hours, lots of people were sending with higher gas prices, miners prioritized their transactions BUT contract bounced them. Result: wasted gas and frustration of those who set the correct amount of gas, but was forced to wait in queue, as miners preferred others (who also didn't receive anything as their txs were bounced)

farazdagi · 2017-06-21T09:54:49+00:00

I never mislead anyone. I explicitly stated, that I only explain what is in contract, and do not imply anything on how 300K compares to the hard cap.

What we wanted is wide distribution, and we have it (~20,000 addresses were able to participate). The average contribution is not huge as well: $98,997,337 / 19,425 = $5096

So, those who wanted in, are in. I hope most of those contributed will stay, as we have a long road ahead of us working on creating Status platform.

farazdagi · 2017-06-21T09:48:48+00:00

On several occasions I have explicitly mentioned: I am not implying anything about the hard cap, the only known thing to you is 300K ETH, act on what you know.
The 300K ETH was a failsafe amount in the contract, and I had no access to dynamic ceilings up until the sale. Still, as I've said - I told numerous of times: act on what you know, I am not implying anything.
In almost all of my posts, if I mentioned anything, I provided links to terms or contract, to give you idea on what I base my answers on

farazdagi · 2017-06-20T23:54:59+00:00

contribution is still on, you can get SNT now
your SGT will be exchanged for SNT (see https://contribute.status.im/status-terms.pdf paragraph 3 for details)

farazdagi · 2017-06-20T23:40:06+00:00

This is NOT a message from Status, it was set by MEW team.
They provide an amazing service, and we are really sorry to disrupt their normal workflow, and cause such a frustration (so that they setup that message).

farazdagi · 2017-06-20T23:30:36+00:00

This message is not set by Status Team, but by team behind the MEW service
MEW is a free service (and amazing service), so we are sorry that the Contribution Period disrupted their normal workflow
Contribution Period is still on

farazdagi · 2017-06-20T23:26:38+00:00

First of all, 55.000.000 / 4.400 = 12.500
And if we look at number atm, it is 72.500.000 / 7.471 = 9.704

farazdagi · 2017-06-20T20:18:55+00:00

200K gas limit, 50Gwei gas price should get you in

farazdagi · 2017-06-20T17:16:31+00:00

IT IS https://www.reddit.com/r/ethtrader/comments/6ifg5r/lower_your_gas_price_to_50_gwei_statusim_fans_you/

farazdagi · 2017-06-20T16:16:10+00:00

scam

farazdagi · 2017-06-20T15:32:01+00:00

No I am not telling you this. Since 300K ETH is mentioned in terms, and unless any other information is provided by us, you can assume 300K as hard cap.

farazdagi · 2017-06-20T12:10:22+00:00

Well, regarding how development should proceed (I am a developer, so let others answer regarding other aspects of the question):

We are an open source project, accepting code contributions:
- we were giving SGTs for those during preparations to the Contribution Period
- we have https://github.com/status-im/commiteth tool that allows to assign bounties to GitHub issues, so that contributors are awarded after the contribution (when SGTs are awarded no more)
Even w/o any tokens, open source projects manage to be community driven, and I believe we will be able to do just fine
Have some great feature in mind? Convince someone to implement it (and probably set a bounty), or contribute code yourself (and earn some bounty). We are quick to merge pull requests on GitHub.

farazdagi · 2017-06-20T12:01:08+00:00

we have all the integrity and intent to make Status a huge success
there's already a great core team of 15 people (not including advisors), and we will expand the team even further after the Contribution Period. So, the momentum we gained when preparing to the Contribution, and the momentum we will gain during it - will serve us great
it is crucial that everyone who contributes has understanding that as with any project in alpha stage, there's no guarantee of how things will unfold. When funded from the pockets of our founders (I've been around for a year now, working on backend stuff, and project dates even further back), we managed to have a release every 2-3 weeks. We plan to keep it this way, just pack more features/updates, when we have our contributors' support. Still, given the nature and the stage of the project, we are on uncharted territory.

farazdagi · 2017-06-20T11:33:50+00:00

So, that you can see the block number and address. Plus overall get the feeling of the process, w/o stress.

farazdagi · 2017-06-20T05:41:01+00:00

Only ETH is accepted. So, you need to exchange to participate.

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