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TokenGen 2.0 is now live: https://tokengen.io/

Common Fabric Token ICO Questions

Since we have noticed that the same questions get asked over and over again, especially in our Telegram group, we decided to put together a blog post in order to address said questions. This blog post will be updated as newer commonly asked questions arise so think of it as your go-to destination when it comes to getting answers about the Fabric Token ICO.

Does the project have an MVP?

Yes. Check it out here: https://fabrictoken.io/tokengen-showcase-smart-contract-generator-token-economy/

Why is there no live demo of TokenGen?

Because the tool works in an all-or-nothing manner i.e. if you cannot pay for your smart contract, there isn’t much you can do with it besides clicking buttons and filling out inputs. Once TokenGen gets integrated with the main ETH network, we will release the tool to the public. That will happen once the Fabric Token ICO is concluded.

Do I need to be whitelisted in order to participate in the ICO?

Yes. Submit your application via the form on this page: https://fabrictoken.io/whitelist/

How long does KYC take?

Usually, in the span of 24 – 48 hours. A confirmation email is sent with instructions on participation once we have verified a submission. We also send out emails if we need more information from a specific person. You can check your current whitelist status here: https://fabrictoken.io/kyc-check/

Will the 9 ETH Cap be removed?

We are still discussing this and once we reach a conclusion, we will let the FT community know.

Are unsold tokens going to be burned?

Yes.

Will the price of FT change during the ICO?

No. Price will be exactly 0.000125 ETH per 1 FT or 1 ETH will purchase 8,000 FT.

Where can I find the FT smart contract address?

You can find it on this page: https://fabrictoken.io/ico/

How to see how many Fabric Tokens I own?

ERC-20 compliant wallets usually have an option to add a custom token to track. The smart contract address of FT can be found on this page. Decimals should be set to 18 and the symbol is “FT”.

When is FT going to hit exchanges?

Due to legal concerns, we cannot talk about this publicly. All we can say is that, once we have definitive news on the matter, we will announce. Work is in progress.

When are transfers on FT going to be allowed?

Once the ICO is concluded.

Is the project going to proceed even if hard cap is not reached?

Yes. We will develop this platform no matter the outcome of the crowdsale. More than enough FT out of the total supply are already allocated to crowdsale purchasers, strategic partners, core team, and advisors, in order to get the job done.

6 Responses
  1. Bruce Wayne

    Congratulations team! I appreciate your transparency and behaviour.
    I would like to know how FT will be addapt to evolutions on ICO models: i.e. DAICO proposed by V. Buterin?

    BR,
    Bruce

    1. Hey,

      Thank you for the kind words mate. Our ICO will be over on April 1st, so we won’t need to adapt to this new ICO that is coming. However, the ICOs of later 2018 and 2019 will have to deal with that.

      Regards!

  2. Jim Sonnet

    I don’t understand the financial incentive in holding these Tokens and hence cannot class this as any kind of investment. This is the same as buying Big Mac “food vouchers” is not an investment in McDonalds. Even at a speculative level, appreciation of Token value is also impossible as no one is willing to pay $100 for a Big Mac hamburger as they would instead buy a burger elsewhere for $4… The only difference with this analogy is that at least McDonald’s is a known brand and Big Mac Hamburgers enjoy a level of demand.

    I think Fabric Token should have thought about the business model a little better and included benefits to attract long term investors., such as creating two token system similar to NEO. An Investment Token that can be staked and a consumer usage token (NEO GAS) to pay for services. A share of fees generated could then be shared across the Investor Token holders (payable in GAS) which can be sold by Investors on exchanges to consumers…

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