Cosmos Fundraiser Finalization
A quick overdue update on some loose ends from the fundraiser.
Dearest Cosmonauts — This a quick overdue update on some loose ends from the fundraiser, namely how to check your suggested Atom allocation, what to do about the Cosmic Whale that contributed 40k ether, what to do about late Bitcoin transactions, and what we’re doing about hedging our position.
Check your Atom Allocation
To get your Cosmos address, download the command line tool from: https://github.com/cosmos/fundraiser-cli/releases/tag/2.11.3. On an offline computer, enter your twelve word mnemonic.
Then, please use your Cosmos address check your suggested Atom allocation at https://fundraiser.cosmos.network. If there are any discrepancies, please let us know immediately at fundraiser@cosmos.network.
The Whale
The fundraiser terms stated a limit of 1M USD per contributor. For the purpose of the fundraiser, the price of ether was $45.23 USD. Thus, the maximum acceptable contribution was 22109.21954455008 ETH. An excited member of the community disregarded this limit and sent us 40k ETH. So we sent back 17890 ETH, and kept the difference (0.78045544992 ETH) as an administration fee.
Rest assured, we were able to secure a signed statement from the Cosmic Whale requesting the funds back to the sending address and we complied. The text of that statement is as follows:
I am a single individual that donated more than the limit in the Cosmos fundraiser and would like the excess funds sent back to my address 0x1926851A0457Dd9046f26c0cedDCbED749e6A55b . 47faddc1ae97514dc30c6f9a3e9f9bec6a7aaf661195e2ea956fc339c0dc4a62
And the signature:
0x2e6bd79cae4e9b9ac7f6ded70d4a3b33a7cd7158d0f3f9a5607e2dd1dd66d54953eb9765531458c9a070322e217a63d3aa463f96c1e78e520e1eda013ad21a9800
which can be confirmed to have come from the whale’s address.
The refund consisted of the following transactions:
- https://etherscan.io/tx/0xcdb9f8213a11800f582b2b96354763cbc2c2ed5dca2c22b6be36d3537c1dc142
- https://etherscan.io/tx/0x317280bfcfab32f85c68244d82256108c13bd8867b055867256920b7b531de18
- https://etherscan.io/tx/0x03d30c121c47e3ed744f62d597b47fd09814d4af9c5702ae15bfe6dadcc9eb36
Note that the last two are the final transactions in a 2-of-3 multi-sig sequence. Since these were the first transactions out of the treasury, we did them extra-carefully and started with small amounts before sending the larger sum.
Feel free to investigate further on the blockchain.
Late Bitcoin Transactions
The fundraiser hit its hidden cap limit of 17M USD rather quickly. Due to the expressiveness of Ethereum smart contracts, we were able to prevent any additional funds from being collected. On Bitcoin, we announced that transactions would only be accepted for three more blocks. The final block in which we accepted donations was block number 460660. That said, due to issues with delayed transactions and ambiguity, we accepted donations with an intermediate transaction in block 460660 and a final transaction in block 460661. All funds received after block 460661 have been refunded to their respective intermediate address.
If your donation transaction was committed in a block after 460661, you should reclaim the bitcoins sent back to your intermediate address. To do so, download the command line tool from: https://github.com/cosmos/fundraiser-cli/releases/tag/2.11.3
On an offline machine, run the program and enter your twelve word mnemonic. It will output your Cosmos address, as well as your intermediate Bitcoin address and private key. Import the private key into a Bitcoin wallet of your choice and send the Bitcoin to wherever you like.
The refunds occurred over two transactions:
- https://blockchain.info/tx/395bfd3c076ccc96796c951442c0c9fb4bc8c213c4afff5342629b3486a5dc37
- https://blockchain.info/tx/0bff17da7d317bd4c5d1a528bd13a17b23f2136d0ff808f495608c6b81a9d78b
Up Next
We have lots of exciting things in the pipeline, including new Tendermint releases, test-nets supporting Inter-blockchain Communication, UIs, and more, that we will be rolling out imminently. Stay tuned!
