Status New Date: Contribution Period begins Tuesday June 20th at 2pm GMT
New Date: Contribution Period begins Tuesday June 20th at 2pm GMT
Over the past two weeks our community has grown tremendously, and we’ve received an overwhelming amount of feedback and questions. To those of you who have emailed us directly, we’re working through your emails as quickly as we can.
Given the vast amount of interest in recent token launches and their subsequent short-term effects on the Ethereum network, we’ve made the decision to delay the Contribution Period by 3 days, to Tuesday 20th June at 2pm GMT to ensure our community’s awareness of the structure and procedures necessary to participate, extend our bug bounty period, and further test our plans for use of dynamic ceilings.
Independent audits suggest there are no issues that need resolving, but feedback from our community and the desire to set a new standard of rigor and communal participation has encouraged us to commit a few more days to support these standards. We hope that this will give everyone enough time to prepare for the event, ask questions, and try out Status for yourself.
Extending Our Bug Bounty
As much as we’d like to shift our focus back to development of the Status client and go ahead as planned, those of you who have been part of the Ethereum community for a long time will understand security needs to be the foundation of our thinking, and drive all our decisions when it comes to code that stores real value.
We’d like to announce that we will be further increasing the Bug Bounty to $60,000 for critical issues. Learn more about this program here. Our contracts have already been audited by three leading security firms, so to sweeten the deal, any security experts who find a bug will also be offered the ability to ensure participation in the Contribution Period (although at the exact same rate as everyone else — 10,000 SNT per 1 ETH).
Contribution Period FAQ
We’d also like to address a few Frequently Asked Questions:
Q: I’m a US Citizen, can I participate? A: No. All US IPs on https://contribute.status.im/ will be blocked entirely, and contributors must agree to the Terms and Conditions.
Q: How much Gas should I use? A: Recommended Gas Limit: 200,000, Gas Price maximum: 50 Gwei
Q: As a SGT holder, will my transaction have priority? A: No.
Q: Can I have an iOS invite? A: Unfortunately Apple sets a hard limit of 2,000 TestFlight invites (since we’re in alpha). You’d be welcome to build Status yourself, or try us out on Android instead (through an emulator is an option too!).
Q: Can I send BTC? A: No. Only ETH.
Q: Which Ethereum clients can I use to participate? A: The only wallets we are confirmed to support are MyEtherWallet, Metamask, Mist, Parity and imToken.
Q: Will I still receive SGT if I’m eligible? A: Yes! We’re manually reviewing each and everybody, and we have a lot of incredible contributions to get through, so please be patient.
Q: When are SNT transferable A: Exactly 1 week after the Contribution Period ends. Our terms have been updated to reflect this.
Q: What is the minimum amount of contribution? 0.01 ETH.
Q: What is the exact starting block number? This will be published to https://contribute.status.im/ 24 hours before the Contribution Period begins.