I'm trying to understand the donut graph on page 11 of the swarm booklet labelled fundraiser but it doesn't seem to tally up.
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As far as I can see the booklet shows Swarms crowdfunding will close on July 20th with a target of 22,500 Bitcoins.
Hopefully this explains it:
Swarm reserves -> 8,000,000 SWARM (4,000,000 for founders, 4,000,000 for bounties)
Indication of Interest -> 500 Bitcoin -> 4,000,000 SWARM
Open Phase 1 -> 4,000 Bitcoin -> 20,000,000 SWARM
Open Phase 2 -> 17,000 Bitcoin -> 68,000,000 SWARM
Total coins issued is 100,000,000.
Target is 4,000 Bitcoin raise in the first open phase. After we will accept Bitcoins up until a 21,500 Bitcoin cap.
Happy to answer any additional questions.