Post
Topic
Board Announcements (Altcoins)
Re: [SOFTWARE SALE LIVE] Factoid - The Software Token For The Factom Network
by
bitcoinrocks
on 13/04/2015, 15:46:52 UTC
#1 Will any Factoids exist before 5/15 besides those sold in the crowdsale?

#1. The genesis block of the Factoids (to be released post May 15th) will contain all Factoids from the software sale, early contributor and early sale pool participants as described in percentages on the Factom Koinify profile: https://koinify.com/#/project/FACTOM

So to answer the question directly. No. The genesis block will contain all Factoids that will be valid in the protocol and they will come into existence at the same time, no Factoids (beyond for testing purposes) will be created before the Factoid Chain is released.

Thank you for your answers, they were very helpful.  Could you help me understand the percentages referenced above?  If I'm understanding it correctly, the Koinify website says 50% of the genesis block Factoids will come from the public sale, 20% from the early private sale, and 30% from endowments to insiders.  Does this mean that if 10 million Factoids are sold during the public sale, that number will be doubled to 20 million for the genesis block?