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IEO Terms and conditions
IEO RULE BOOK:
1. The coin team must provide the wallet source code so we can compile and test it and receive the IEO pre-mined transfer.
2. The coin team must provide the coin logo for listing. Forum thread, website, and block explorer links are preferable.
3. 2 BTC paid before IEO is listed unless special circumstances arise. If not listed IEO 80% fee is refundable.
4. In the event the IEO does not sell out, coin team have the right to either refund investors or continue to launch and we can destroy the remaining pre-mined. Coin developers must state if they are going to destroy unsold pre-mined in this case.
5. IEO ending time should be strictly stated in the coin forum thread or other public information sources. We will end IEO exactly at the stated ending time.
6. Wallet and its blockchain or asset have to be fully functional at the moment of IEO end as we have to open it for deposits and withdrawals for our traders.
7. Provided that the IEO is successful, if there were no other conditions declared publicly SENTEXCHANGE will freeze the IEO proceeds for 5 days in order to achieve the following: verify blockchain & network stability and adherence to the stated IEO/coin parameters.;
8. After the successful completion of the above requirements, at the end of the 5-day period, SENTEXCHANGE will unlock the account which holds the IEO proceeds. If any network or wallet problems arise during this 5-day trial period, the developers have until the end of this trial period to rectify them. If problems persist at the end of the 5-day trial period, SENTEXCHANGE will refund the investors using the IEO proceeds and consider the IEO failed and canceled.
9. Due to recent scams and other negative events, SENTEXCHANGE can no longer vouch for coin developers. There is no way to verify a developer's identity or to prosecute an individual or team that abandons the projects or otherwise does not adhere to the stated IEO/coin terms without having a substantial legal infrastructure which we cannot provide.
10. If the coin developers cannot provide a POD (Proof of Developer) or Coin source Trust Index rating, SENTEXCHANGE will recommend the provision of a short video where coin developers introduce themselves and their coin and explain the basic concepts behind the coin and why they believe it can be successful.
11. Coin team will need to create a SENTEXCHANGE account specifically for an IEO and communicate the account details to SENTEXCHANGE. When SENTEXCHANGE receives the source code, we build the wallet and have the developer transfer the coins to this account. Developers can set the IEO sale price themselves then we lock the account until the IEO has completed and the 5-day trial period has successfully passed.
12. All remaining token/coin will not be refunded and will be burned as per IEO or ICO guideline