[ANN] - OAX Foundation

[HongKong]

Hi,
just a question, not sure to have understood......
If i bought let's say 500 OAX during the ICO i need to full submit (somewhere, actually i'm not able to find it) my IDCard/Passport, Bill and personal data to unlock that tokens?

Thanks

Thank you for the interest to the project, Sampey!

Here is some info about current situation with KYC:
https://bitcointalk.org/index.php?topic=1943946.msg19751202#msg19751202

Pinned post on Slack:
"Reasonable KYC processes are conducted to comply with the (basic) regulatory requirements.  Given the critical interaction that will be required going forward for the successful launch of the project, it is important that the Foundation and the Exchange do not get started on a negative footing with regulators and policy makers which may otherwise jeopardize the viability of the project."

OAX representative on Slack:
"we will have updates shortly (likely tomorrow) regarding the KYC process and how we will simplify it
I will keep slack updated regarding KYC processes"

https://openanx.slack.com/messages/C4R527SJC/

We will keep Bitcoin Talk updated too.

Please try to explain why we need to have a KYC verification completed if you guys already have our Ethereum address. Is the tokens going to get placed on the ANX exchange and the investor will have to manually transfer the coins out of it or is it going to be done one by one manually through some sort of escrow?

thanks.

[1714144787]

1714144787

[1714144787]

1714144787

[bitvoyager]

Hi,
just a question, not sure to have understood......
If i bought let's say 500 OAX during the ICO i need to full submit (somewhere, actually i'm not able to find it) my IDCard/Passport, Bill and personal data to unlock that tokens?

Thanks

Thank you for the interest to the project, Sampey!

Here is some info about current situation with KYC:
https://bitcointalk.org/index.php?topic=1943946.msg19751202#msg19751202

Pinned post on Slack:
"Reasonable KYC processes are conducted to comply with the (basic) regulatory requirements.  Given the critical interaction that will be required going forward for the successful launch of the project, it is important that the Foundation and the Exchange do not get started on a negative footing with regulators and policy makers which may otherwise jeopardize the viability of the project."

OAX representative on Slack:
"we will have updates shortly (likely tomorrow) regarding the KYC process and how we will simplify it
I will keep slack updated regarding KYC processes"

https://openanx.slack.com/messages/C4R527SJC/

We will keep Bitcoin Talk updated too.

Please try to explain why we need to have a KYC verification completed if you guys already have our Ethereum address. Is the tokens going to get placed on the ANX exchange and the investor will have to manually transfer the coins out of it or is it going to be done one by one manually through some sort of escrow?

thanks.

Thank you for the interest to the OAX platform, HongKong!
1. I am not the representative of the OAX Foundation. I may just assume that the KYC and AML/CTF procedures are the demand of a lot of regulators in a lot of countries. And the openANX is trying to accomplish all these requirements, to be completely in the legal field. It's a very important for the openANX as for the future large global player. Ethereum address is quite anonimous as i know. Let's wait for an announcements on this theme.
2. If I understood your question correctly. After the investing you can see the Tokens in your wallet (after adding Custom Token). On July 29th+- the Tokens will be "activated" and will become tradable and transferable. You may read about all phases of distribution here in the Token Sale Summary Sheet:
https://www.openanx.org/en/assets/documents/openANX_Token_Sale_Summary_Sheet_ENU.pdf

[HongKong]

Hi,
just a question, not sure to have understood......
If i bought let's say 500 OAX during the ICO i need to full submit (somewhere, actually i'm not able to find it) my IDCard/Passport, Bill and personal data to unlock that tokens?

Thanks

Thank you for the interest to the project, Sampey!

Here is some info about current situation with KYC:
https://bitcointalk.org/index.php?topic=1943946.msg19751202#msg19751202

Pinned post on Slack:
"Reasonable KYC processes are conducted to comply with the (basic) regulatory requirements.  Given the critical interaction that will be required going forward for the successful launch of the project, it is important that the Foundation and the Exchange do not get started on a negative footing with regulators and policy makers which may otherwise jeopardize the viability of the project."

OAX representative on Slack:
"we will have updates shortly (likely tomorrow) regarding the KYC process and how we will simplify it
I will keep slack updated regarding KYC processes"

https://openanx.slack.com/messages/C4R527SJC/

We will keep Bitcoin Talk updated too.

Please try to explain why we need to have a KYC verification completed if you guys already have our Ethereum address. Is the tokens going to get placed on the ANX exchange and the investor will have to manually transfer the coins out of it or is it going to be done one by one manually through some sort of escrow?

thanks.

Thank you for the interest to the OAX platform, HongKong!
1. I am not the representative of the OAX Foundation. I may just assume that the KYC and AML/CTF procedures are the demand of a lot of regulators in a lot of countries. And the openANX is trying to accomplish all these requirements, to be completely in the legal field. It's a very important for the openANX as for the future large global player. Ethereum address is quite anonimous as i know. Let's wait for an announcements on this theme.
2. If I understood your question correctly. After the investing you can see the Tokens in your wallet (after adding Custom Token). On July 29th+- the Tokens will be "activated" and will become tradable and transferable. You may read about all phases of distribution here in the Token Sale Summary Sheet:
https://www.openanx.org/en/assets/documents/openANX_Token_Sale_Summary_Sheet_ENU.pdf

Alright, thanks for the info. I kind of understand it now.

[xx63245613]

I joined the signature and avatar campaign,and now promoted to SR member.Please update it,thanks.

[dz4505]

I am so confused about KYC.  As far as I can tell we already have the tokens, but its not activated.

So we will need to submit an ID to get it activated?  

[bitvoyager]

I am so confused about KYC.  As far as I can tell we already have the tokens, but its not activated.

So we will need to submit an ID to get it activated?  

Thank you for the questions, dz4505!

1. Let's wait for announcements about KYC

Here is some info about current situation with KYC:
https://bitcointalk.org/index.php?topic=1943946.msg19751202#msg19751202

Pinned post on Slack:
"Reasonable KYC processes are conducted to comply with the (basic) regulatory requirements.  Given the critical interaction that will be required going forward for the successful launch of the project, it is important that the Foundation and the Exchange do not get started on a negative footing with regulators and policy makers which may otherwise jeopardize the viability of the project."

OAX representative on Slack:
"we will have updates shortly (likely tomorrow) regarding the KYC process and how we will simplify it
I will keep slack updated regarding KYC processes"

https://openanx.slack.com/messages/C4R527SJC/

2. The Tokens will be "activated" and will become tradable and transferable on July 29th+- .
The Token Sale Summary Sheet: https://www.openanx.org/en/assets/documents/openANX_Token_Sale_Summary_Sheet_ENU.pdf

[Sampey]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

[bitvoyager]

I joined the signature and avatar campaign,and now promoted to SR member.Please update it,thanks.

Thank you for the participation in the Signature campaign, xx63245613!

Please make a post about these your changes in the OAX Bounty thread:
https://bitcointalk.org/index.php?topic=1947373.0

[dz4505]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise. 

[bitvoyager]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

Don't worry before the time, dz4505.

Fingerprints, thermal hand vein pattern, iris recognition and retina scanning. This is the future, Sampey!
Someday we will need to travel to ICO's headquarters to get our Tokens. As a really existent totally verified physical persons.

[Sampey]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise. 

yes, but sometimes in each ico there are 3-4 documents with 20 pages each.
I think this is a very important info, and it's mandatory to write very big at the center of the home page "TO COMPLETE THE ICO YOU MUST PROVIDE PERSONAL INFORMATION".
why a such important info is inside a pfd file??

I hope they will change mind about tokens activation.

[asdalani]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

I am pretty sure that the KYC applies only to the people that invested $5,000 or more. If you didn’t invests that much money into openANX then you should be fine.

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

Don't worry before the time, dz4505.

Fingerprints, thermal hand vein pattern, iris recognition and retina scanning. This the future, Sampey!
Someday we will need to travel to ICO's headquarters to get our Tokens. As a really existent totally verified physical persons.

Nah, I am sure that the people investing money into a project wouldn’t want to travel across the world just so they can cash out a few dollars lol.

[dz4505]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

I am pretty sure that the KYC applies only to the people that invested $5,000 or more. If you didn’t invests that much money into openANX then you should be fine.

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

Don't worry before the time, dz4505.

Fingerprints, thermal hand vein pattern, iris recognition and retina scanning. This the future, Sampey!
Someday we will need to travel to ICO's headquarters to get our Tokens. As a really existent totally verified physical persons.

Nah, I am sure that the people investing money into a project wouldn’t want to travel across the world just so they can cash out a few dollars lol.

If arbitrary limit it is $5,000 then they should have let us know so we could stay under that limit.  I just calculated mines and I am 26 dollars over.  WTF LOL.   

[bitvoyager]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

I am pretty sure that the KYC applies only to the people that invested $5,000 or more. If you didn’t invests that much money into openANX then you should be fine.

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

Don't worry before the time, dz4505.

Fingerprints, thermal hand vein pattern, iris recognition and retina scanning. This the future, Sampey!
Someday we will need to travel to ICO's headquarters to get our Tokens. As a really existent totally verified physical persons.

Nah, I am sure that the people investing money into a project wouldn’t want to travel across the world just so they can cash out a few dollars lol.

If arbitrary limit it is $5,000 then they should have let us know so we could stay under that limit.  I just calculated mines and I am 26 dollars over.  WTF LOL.  

There is such info in the Bounty ANN:
"Any reward exceeding value of USD$5,000 (6666 OAX) must perform KYC to receive reward. We will contact you if such a situation arises"
https://bitcointalk.org/index.php?topic=1947373.0

I hope everything will be alright for you, dz4505. Let's wait for the new announcement on the KYC theme.  

[dz4505]

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

I am pretty sure that the KYC applies only to the people that invested $5,000 or more. If you didn’t invests that much money into openANX then you should be fine.

i'm pretty sure a lot of people won't be happy about the idea tu submit document/passport bill etc.... just to activate a token.
I hope final choose will be different : maybe submit document when you wants to use the tokens on openANX.

Wish I read the fine prints earlier or else I would not have gone in otherwise.  

Don't worry before the time, dz4505.

Fingerprints, thermal hand vein pattern, iris recognition and retina scanning. This the future, Sampey!
Someday we will need to travel to ICO's headquarters to get our Tokens. As a really existent totally verified physical persons.

Nah, I am sure that the people investing money into a project wouldn’t want to travel across the world just so they can cash out a few dollars lol.

If arbitrary limit it is $5,000 then they should have let us know so we could stay under that limit.  I just calculated mines and I am 26 dollars over.  WTF LOL.  

There is such info in the Bounty ANN:
"Any reward exceeding value of USD$5,000 (6666 OAX) must perform KYC to receive reward. We will contact you if such a situation arises"
https://bitcointalk.org/index.php?topic=1947373.0

I hope everything will be alright for you, dz4505. Let's wait for the new announcement on the KYC theme.  

LOL I literally went over.  6,701.52.  Wonder can they just refund me 1 eth.  Well this is an awkward position to be in haha.  They need to make that bigger and have an additional confirmation on their website letting them know about KYC.

[zikabra]

Thank you for the interest to the OAX platform, HongKong!
1. I am not the representative of the OAX Foundation.

I thought you ARE representative because you are thanking everyone who is joining this project.

There is such info in the Bounty ANN:
"Any reward exceeding value of USD$5,000 (6666 OAX) must perform KYC to receive reward. We will contact you if such a situation arises"
https://bitcointalk.org/index.php?topic=1947373.0

Yes, but that is for bounty hunters, right?
KYC and AML policy can be found at bottom of openANX website.

[bitvoyager]

Thank you for the interest to the OAX platform, HongKong!
1. I am not the representative of the OAX Foundation.

I thought you ARE representative because you are thanking everyone who is joining this project.

Community manager.

There is such info in the Bounty ANN:
"Any reward exceeding value of USD$5,000 (6666 OAX) must perform KYC to receive reward. We will contact you if such a situation arises"
https://bitcointalk.org/index.php?topic=1947373.0

Yes, but that is for bounty hunters, right?
KYC and AML policy can be found at bottom of openANX website.

Yes, this is the quote from the OAX Bounty thread.
Thank you. Yes, when you are clicking "Contribute" button there is a warning about KYC & AML Policy and a link to "KYC & AML Policy", which redirects to this bottom of page. Also the information about KYC can be found in the Information Memorandum. It is assumed that the investor have "read, understood and agree" to this policy when clicks "I agree".

As i mentioned before, there is some information on this theme on Slack:

Pinned post:
"Reasonable KYC processes are conducted to comply with the (basic) regulatory requirements.  Given the critical interaction that will be required going forward for the successful launch of the project, it is important that the Foundation and the Exchange do not get started on a negative footing with regulators and policy makers which may otherwise jeopardize the viability of the project."

OAX representative:
"we will have updates shortly (likely tomorrow) regarding the KYC process and how we will simplify it
I will keep slack updated regarding KYC processes"

https://openanx.slack.com/messages/C4R527SJC/

[bitvoyager]

Blockchain's Brave New World: Initial Coin Offerings by Padraig Walsh


"Initial coin offerings (ICOs) were once within the sole purview of a small and cultish number of technology supporters.
Now, they are fast becoming a magnet for frontier venture capital investing.

Hong Kong-based OpenANX Foundation just became the latest blockchain company to launch an ICO, seeking to raise
a digital currency equivalence of $22.5 million USD. And other companies are sure to follow suit.

If you're interested in this new investing medium, here's everything you should know about ICOs beforehand."
 

The full article on Forbes:
https://www.forbes.com/sites/walshpadraig/2017/06/21/blockchains-brave-new-world-initial-coin-offerings/#159b35ad7897


REMINDER

THE ETH CONTRIBUTION ADDRESS WILL NEVER BE PUBLISHED OR SENT VIA EMAIL, SOCIAL MEDIA OR
ANY INSTANT MESSAGING APPLICATIONS OR GROUPS. THE ETH CONTRIBUTION ADDRESS IS PROVIDED
ONLY ON WWW.OPENANX.ORG


WEBSITE | WHITEPAPER | YOUTUBE | SLACK | TWITTER | MEDIUM | REDDIT | WECHAT | TELEGRAM

[ANX Marketing]

The total supply is 100M, exchange rate 478token / ETH, so the total market capitalization of ETH is more than 200k, right? For this project, for me 200kETH too expensive, has drained the future appreciation potential, so why buy?By the way, Chandler Guo is not a highly respected person, on the contrary, he is considered dishonest.

thanks lb9999 for the interest. Couple of things, I think it is a little like gossip to say anything about Chandler Guo on the internet that you wouldn't say to his face. Second, the price of tokens in this 1st Sale is 478 OAX to 1 ETH. The second sale price shall be set by the market.

[ANX Marketing]

 How can I contribute ? I went to the webpage and clicked the contribute tab,it does not direct to a Ether address.

  Also, regarding the KYC info, how does that get processed, what is the procedure ?  I do not have any utility bill it is included in my
rent payment; Will a rental lease contract suffice?

Thank you for the interest to the openANX platform, timothy17

1. Works for me. Just checked. You have to go through some "I agree".  

2. You may read the OAX Token Sale Information Memorandum. There is a lot of info about KYC in this document:
https://www.openanx.org/en/assets/documents/openANX_Information_Memorandum_ENU.pdf

According to the team representatives:
Actually on practice KYC and AML/CTF will be done for large payouts only. The team is expecting to implement this to some people, no more.

Here is the answer about KYC from Dave Chapman on Telegram:

- Hi Phi, and thanks for the question.  The Foundation has sought counsel from  law firms in Hong Kong and the United States as to the potential legality of conducting the token sale. As there are no established directives or clear polices from regulators, the Foundation has undertaken a prudent approach to conduct the token sale in compliance to relevant legislation and regulations. The counsel has recommended that the foundations complies with established KYC and AML standards and procedures to disincentivize the utilization of the token sale as a vehicle for money laundering or other illicit activity. All KYC information will be collected and maintained in accordance to strict data protection policies therefore the participants and the foundation will be in privity of the KYC information and a disclosure will only be made should it be required by a law enforcement agency as part of a regulatory or criminal investigation. The foundation believes, in openness and transparency and thus it is compelled to follow all relevant legislation and conduct the token sale with the highest level of integrity.  Please let me know if this helps.

https://web.telegram.org/#/im?p=@openanxteam

  Thank You for the reply, FYI the  prompt to the subscription page does not  work  with  Firefox, I was able to proceed  when I changed my browser. I have read the KYC
disclosure, I am  just concerned because I may not be able to provide  proof of address in the manner requested because it specifically  requests a utility bill which I do not receive :

"Direct Purchasers will be required to verify their identity and adhere to the Foundation’s KYC policy. This includes the submission of both government ID and proof of address. Valid Identity documents include a passport, national identity card, or driver’s license. Valid proof of address includes utility and rates bills not older than 3 months. Other forms of ID and Address verification may not be accepted. Any purchased OAX will remain inactive until account verification has been completed and deemed satisfactory by the Foundation."

 

Hi timothy17, we'll be posting some details out in the next few days, if you don't have a bill I'm sure the CS guys can help you out finding something that works in terms of what you can provide. Don't Panic, make sure you are signed up for the newsletter so you don't miss any info.