IGNIS ICO Report 2

Did you hold your breath?

Never mind, the second 5M batch of the IGNIS ICO got snatched by MAAC the Whale. And also most of the third.

But look at this now:

Live data from the Nxt blockchain

69 new buyers got their hands on JLRDA  –

no ninja tricks, no bots, just by using the full Nxt client. It’s a race to get in, sure. Back hurts from leaning forward towards the screen, eyes burn from staring without blinking, and personally, I burned my dinner in the oven because I didn’t dare to leave the computer within the ICO time frame. And I wasn’t even among the lucky 69. Transaction sent, the fee goes to forgers, try again if you want.

Only 5M of the ICO tokens are released in each batch in this Round 1, so maybe it’s better to wait. It’s just that… buying IGNIS for 0.4 NXT per token would be pretty nice, right.

What’s next?

Kristina (Jelurida) gives us this update in nxtchat.Slack:

Dear Nxt community members, thank you for your contribution in the first 2 days of the IGNIS ICO!

We are carefully considering the feedback and we are looking into possible ways to ensure that all the Nxters and also newcomers can participate in the IGNIS crowdsale more easily.

We also recommend to everybody to configure their Nxt client as a full node to avoid overloading the public nodes.

Jelurida has started moving funds to Bittrex, which is one of the higher volume NXT exchanges.

As people are beginning to calm down now, lots of thoughts and research by both new and veteran Nxters is ongoing, about the method MAAC uses and – not least perhaps – how to copycat it.

Another piece to this puzzle came from MAAC himself, as he uploaded a second public message to the Nxt blockchain:

Now guess who forged the block with the 4th JLRDA bid offer and 1009 NXT in fees while at work? Ahem, yeah

Questions?

So, does all this mean that Jelurida is incapable of running a fair ICO on the platform they designed themselves? Will this be Nxt’s “bad distribution” issue all over again? Is MAAC a heartless attacker, a movie theater worker with great belief in the work of Jelurida or just a greedy whale? Will he succeed or can Jelurida exploit his methods and succeed in creating equal terms for all?

In the coming days, we will dig into this in much greater detail, and not least explain about IGNIS, and all the advantages of the revolutionary new Ardor platform.

The JLRDA release schedule is as posted from Jelurida, remember each one is a batch of 5 M tokens:

Aug 5th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 6th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 7th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 8th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 9th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 10th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC

The coin sale will last for months so do not worry if you are not able to participate immediately, there will be many opportunities to participate in the IGNIS ICO.

In addition to the ongoing ICO, approximately half of the IGNIS coins in existence will be distributed automatically to NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.

 

IGNIS ICO Report 1

The long awaited crowd sale of the IGNIS token has begun.

For sale are 440,000,000 Jelurida tokens (JLRDA) out of 1,000,000,000 total.

The Nxtchat.slack has been buzzing for weeks with anticipation and discussions of how to get your hands on these JLRDA tokens and this article contains some important information pertinent to your investing decisions.

1st round sold out in a flash


Live data from the Nxt blockchain

IGNIS logo

Boom – first round is over…

Eager participants from all around the globe were ready, eagerly staring at their desktop clients with the ICO window open in their NRS Client, excitedly building tension in Slack, ready to purchase.

And then…

The shock – as everyone realized that the first ICO round was over even before Jelurida’s exchange offer had hit the client GUI! The first 5M JLRDA tokens had been sucked up by a single whale in a flash.

1% of the JLRDA tokens available in the ICO had been sold without anyone even seeing the offer let alone having a chance to place their orders in the client!

What happened?

Take a look at the whale’s account.

https://nxtportal.org/accounts/11731960900805566730

Lots of phased transactions. Buy offers put into every block within the announced time frame of the first round, just waiting for his approval to be executed.

But how could he react so fast? One sound theory is that the buyer had a bot listening to the network and as soon as the exchange offer was put by Jelurida, still unconfirmed, he executed the transaction in that same block.

First reactions were harsh. From emotional accusations from disappointed users that the ICO round had to be an “inside job”, to conspiracy theories and sad claims that all IGNIS tokens most certainly would be sucked up by rich investors only, “just like in the fiat world”, hit the world wide web by storm.

And now, few hours before the next batch of 5M JLRDA tokens are to be released, we can only wait and prepare for our second chance to get in. No, “MAAC” did not play it fair in Round 1 but after all, he played it well AND played everybody by the rules of the tech. Rules that can be dug into by everybody, by the way.

Here’s a statement he made, sent from his phasing account:

Jelurida has released a schedule of the availability of the batches for the first round of JLRDA. 55 M tokens are left in 11 bins of 5 M, staggered by 12 hours to make it harder for whales (people with massive amounts of NXT) like MAAC to buy the entire amount.

The release schedule is as posted from Jelurida:

Aug 5th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 6th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 7th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 8th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 9th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC
Aug 10th between 06:45 – 07:15 UTC and between 18:45 – 19:15 UTC

In the coming hours and days, we will keep you posted about the progress of the ICO, as well as explain in much greater detail about IGNIS, Ardor, and all the advantages of this revolutionary new platform.

The coin sale will last for months so do not worry if you are not able to participate immediately, there will be many opportunities to participate.

Let’s see what happens. Meanwhile, the discussion is ongoing:
https://nxtforum.org/general-discussion/ignis-token-sale-progress/

In addition to the ongoing ICO, approximately half of the IGNIS coins in existence will be distributed automatically to NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.

IGNIS ICO Report 2 >