ATTN: EtherJack.io investors
Notice about special Bounty token fund spend
At the launch of EtherJack smart contracts, 25000 JACK tokens were allocated for the bounty campaign. When the game starts, the earned bounty tokens will be awarded to the participants, and the unspent rest will be destroyed.
Of the bounty fund, 8% (2000 JACK) are allocated for "Misc." needs. We believe it is our responsibility to notify our investors about unexpected spends from the "Misc." section, and that's what we are doing with this message.
We were contacted by an investor who by their mistake used an exchange account to buy JACK tokens. This means JACK were sent back to the exchange's Ethereum account, and are effectively lost. In this case people can't control the tokens, since they don't control the exchange's account.
The Txn in question:
https://etherscan.io/tx/0x3eb2d7cc15f0c6b618d079e09777c17a8b78f85a87275c3bcd4795c80dd938a5Notice for future investors: don't buy JACK tokens from exchanges' accounts, only send Ether to the ICO address from an account you directly control (e.g. through MyEtherWallet or MetaMask).
The total amount of tokens "lost" was 93 JACK.
We believe it is our duty to help them out. Due to the way EtherJack ICO works, we can't reverse their transaction or refund them from the Jackpot fund: we don't have access to it. We are able however to give them the tokens they expected to receive, from the Bounty fund.
Today we sent this investor the tokens to compensate for their lost tokens (although the loss is result of their action, not our mistake or bug). Txn:
https://etherscan.io/tx/0x9bbb193e794ac9897f2c78211b242b694850e54f9eaa3c1ec8fcfc4ce4633db0We believe it is the right thing to do, since:
- It didn't happen due to our fault or system error or a bug in the game.
- Taking these tokens from the Bounty fund doesn't hurt the interest of other investors at all: these merely replace other tokens effectively removed from circulation (exchange taking control of the tokens on their account is unlikely and illegal).
- By resolving the issue this way we are being transparent and supportive to our investors at the same time.
We will continue issuing such notices in case other unexpected spendings have to happen.
We make no guarantee that future incidents like this will be addressed in a similar manner.
EtherJack.io Team
