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<h1>Everything You Need To Know About The DAV Token Sale</h1>
<div class="row">
<div class="col-sm-8 col-sm-offset-2">
<div class="token-details">
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Token Icon</p></div>
<div class="col-xs-6"><img src="img/fav/android-icon-36x36.png" height="23"></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Token Symbol</p></div>
<div class="col-xs-6"><p><span>DAV</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Token Sale Hard Cap</p></div>
<div class="col-xs-6"><p><span>54,286 ETH</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Token Sale Target</p></div>
<div class="col-xs-6"><p><span>Capped, 708,571,429 DAV</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Maximum Token Supply</p></div>
<div class="col-xs-6"><p><span>1,771,428,571 DAV</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Token Sale Starts</p></div>
<div class="col-xs-6"><p><span>June 11, 2018, at 13:00 GMT</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p class="halfHeight">Token Sale Ends <br>(Whichever comes earlier)</p></div>
<div class="col-xs-6"><p class="halfHeight"><span>Hard Cap Reached<br>June 25th 2018, at 13:00 GMT</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Token Price</p></div>
<div class="col-xs-6"><p><span>1 ETH = 10,000 DAV</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Minimum Purchase Amount</p></div>
<div class="col-xs-6"><p><span>0.2 ETH</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Maximum Purchase Amount</p></div>
<div class="col-xs-6"><p><span>150 ETH</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Maximum Gas Limit</p></div>
<div class="col-xs-6"><p><span>300,000</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Maximum Gas Price</p></div>
<div class="col-xs-6"><p><span>50 Gwei</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Tokens can be purchased with</p></div>
<div class="col-xs-6"><p><span>ETH</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Protocol</p></div>
<div class="col-xs-6"><p><span>Ethereum, ERC20</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Tokens Received</p></div>
<div class="col-xs-6"><p><span>Immediately</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Tokens Transferable</p></div>
<div class="col-xs-6"><p><span>14 days after sale ends</span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Requirements</p></div>
<div class="col-xs-6"><p><span>Whitelist & KYC <a href="/">here</a></span></p></div>
</div>
</div>
<div class="details-row">
<div class="row">
<div class="col-xs-6"><p>Terms and Conditions of Token Sale</p></div>
<div class="col-xs-6"><p><span><a href="terms-and-conditions.pdf">Here</a></span></p></div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="container kyc-page">
<h4>The DAV Transportation Network Token Sale - Everything you need to know:</h4>
<p>We are very grateful for the patience the DAV community has shown us over the past months while we worked hard to get to this point -- we can now finally announce the details of the much anticipated DAV token sale. It takes significant thought and planning to engineer the birth of an economy, taking into account an array of complex factors, including legal, financial, and technical. <b>Please note, this "Everything you need to know" is meant to be a helpful quick summary only. The actual Terms and Conditions of the token sale is <a href="terms-and-conditions.pdf">here</a>. Please be sure to read them to understand the terms of the token sale. </b></p>
<h4>Hard Cap Represented in ETH</h4>
<p>As of today, we are switching to an ETH-based hard cap instead of a USD-based one. This change is to promote clarity and speak in one language throughout the sale process, to reduce confusion arising from a potentially volatile USD/ETH ratio. The current USD/ETH rate is set at $700 per 1 ETH, which translates to a 54,286 ETH hard cap ($38M). Two days prior to the start of the token sale (June 11th 2018), we will lock the USD/ETH rate using the 24-hour volume weighted average price from <a href="http://coincap.io/" target="_blank">coincap.io</a>, and adjust the ETH-based hard cap using that final rate to reflect our $38M hard cap, and this page will be updated accordingly. From that point on and until the end of the sale, no updates or changes will be made in response to changes in USD/ETH rate. The total token supply and the total of tokens for sale will be updated in the same proportion as the ETH based hard cap.</p>
<h4>Pre-Sale</h4>
<p>Among the many things we are doing to ensure the longevity and stability of the DAV Network, we have been conducting a presale of DAV tokens. The original soft cap has already been reached and the project will proceed regardless of the main token sale’s outcome. We are continuing our presale with a focus on contributors who are able not only to help fund the project and secure its future in advance of the main token sale, but also who can add value to the project in the form of partnerships, exposure and advocacy.</p>
<p>We have received a number of concerned responses as to why the minimum participation in the presale was as high as 1000 ETH, and we would like to take this opportunity to address this question.</p>
<p>According to the latest FINMA (Swiss Financial Market Supervisory Authority) guidelines, because the DAV token is a utility token and not a security, the rights of purchasers resulting from the SAFT to receive DAV Tokens at a future date should not be issued in a way that is "standardized and suitable for mass standardized trading." Otherwise, any such rights acquired under the SAFT would be classified as securities under Swiss law. Also, the DAV Foundation must not issue such rights in a way that the same rights are placed in identical form with 20 or more investors. As it is our responsibility to diligently comply with Swiss regulations, we could only permit a small number of contributors to participate, who bring value to the project both in terms of securing its funding, and also by creating awareness and helping the foundation form strategic partnerships today and down the road.</p>
<h4>Expected Use Of Funds:</h4>
<p><span>45%</span> - Research and Development</p>
<p><span>15%</span> - Marketing and Business Development</p>
<p><span>20%</span> - Expansion & Operations</p>
<p><span>10%</span> - General & Administrative</p>
<p><span>10%</span> - Legal & Compliance</p>
<h4>Token Allocation:</h4>
<ul class="disc-list orange-list">
<li><span>40%</span> of the total number of DAV tokens will be allocated to contributors during the token sale (both presale and public sale).</li>
<li><span>25%</span> of the total number of DAV tokens will be allocated to DAV Foundation to be used for community grants, partnerships and bounties.</li>
<li><span>20%</span> of the total number of DAV tokens will be allocated to DAV Foundation to be used for future development of the “internet of transportation”, and as a reserve for the company.</li>
<li><span>15%</span> of the total number of DAV tokens will be allocated to the team and members of the advisory board. </li>
</ul>
<h4>Token Locking:</h4>
<ul class="line-list">
<li>All <span>team tokens</span> are locked and gradually released over a <span>15 month period</span> (linear quarterly cliffs).</li>
<li>All <span>reserve</span> tokens are locked and gradually released over a <span>60 month period</span> (linear yearly cliffs).</li>
<li>At least <span>95% of presale</span> bonuses are locked for periods of <span>6 to 12 months</span>.</li>
</ul>
<h4>Smart Contract Audit and Release:</h4>
<p>The DAV token and crowd sale smart contracts are currently undergoing the last phase of review regarding safety and reliability as the launchpad for the DAV network. The audit is being conducted by <a href="http://zklabs.io/" target="_blank">Zero Knowledge Labs</a>, one of the most reputable smart contract audit firms in the world. As soon as the audit is complete, we will release both the findings and the complete smart contract source code on the <a href="https://github.com/davfoundation" target="_blank">DAV GitHub</a>.</p>
<h4>Legal & AML/KYC:</h4>
<p>In striving to create a viable blockchain based transportation infrastructure, we are continuing to add to our team some of the best and most experienced minds in both blockchain and transportation. In the legal realm we have been fortunate enough to have Ms.Tung Chan, the former General Counsel of the Ethereum Foundation and former 8 year Securities Commissioner for the State of Hawaii, join us as the new General Counsel of the DAV Foundation. As an organization dedicated to adhering to the rule of law, we are responsible for compliance not only in our domestic jurisdiction of Switzerland, but also in international ones, and Ms. Chan will take on this complex orchestration beginning from April 2, 2018.</p>
<p><a href="https://medium.com/davnetwork/how-to-complete-your-kyc-registration-for-davs-token-sale-49681f950b98" target="_blank">The following post</a> is dedicated to whitelist / KYC and contains information regarding:</p>
<ol class="number-list">
<li><span>1</span>Registration start date</li>
<li><span>2</span>Prerequisites</li>
<li><span>3</span>Step by step guide on how to participate</li>
<li><span>4</span>FAQ / Troubleshooting</li>
</ol>
<p>IMPORTANT NOTE: Participation in the token sale is not permitted for citizens or residents of the USA and China. Registration (and KYC) will be completely blocked for USA/China ID documents, as well as from US/China IP addresses.</p>
<h4>Main Token Sale:</h4>
<ul class="disc-list orange-list">
<li>The first 20,000 community members to successfully complete the KYC process will receive an email confirmation that they are included in the Whitelist A. <span>Whitelist A</span> members can join the sale as soon as it opens (June 11th, 2018, at 13:00 GMT).</li>
<li>Community members who complete the KYC after the Whitelist is closed will receive an email confirmation that they are included in the <span>Whitelist B</span>. Whitelist B members can join the sale 5 hours after the sale opens (June 11th, 2018, at 21:00 GMT)</li>
<li>Step-by-step process guide to contribute:
<ol class="number-list">
<li><span>a</span>Verify your whitelisting status on <a href="https://dav.network/">https://dav.network/</a></li>
<li><span>b</span>Copy the Ethereum smart contract address that will be displayed under the “<b>Buy Tokens</b>” tab</li>
<li><span>c</span>Visit our <a href="https://www.youtube.com/c/DAVNetwork" target="_blank">YouTube channel</a> and check the live stream to verify the contract address. We will be live streaming a video that contains the first 6 characters and the last 6 characters of the token sale smart contract address.</li>
<li><span>d</span>Send Ethereum through your Whitelisted wallet
<ul style="list-style-type: disc;margin-left:32px;" class="high-line">
<li>Open your wallet and paste the smart contract address</li>
<li>Specify the amount in ETH</li>
<li>Specify the gas. Please be mindful of the maximum gas price limit</li>
<li>Specify the gwei. Please be mindful the maximum gwei limit</li>
</ul>
</li>
<li><span>e</span>Make sure you’re following the rules below, otherwise your transaction will be automatically rejected by the smart contract:
<ul style="list-style-type: disc;margin-left:32px;" class="high-line">
<li>Do not send more than 150 ETH</li>
<li>Do not send less than 0.2 ETH</li>
<li>Do not send ETH before the token sale starts for your group:<br>Whitelist A: June 11th, 2018, at 13:00 GMT
<br>Whitelist B: June 11th, 2018, at 21:00 GMT</li>
<li>Join the DAV Foundation <a href="http://t.me/DAVNetwork" target="_blank">Telegram</a> channel or subscribe to email notifications <a href="https://dav.network/" target="_blank">here</a> to be informed once the sale has ended. Once the sale ends all transactions will be rejected by the smart contract.</li>
<li>Do not set a gas price which is larger than the maximum limit otherwise the transaction will be rejected, this is to prevent “gas wars” and keep things fair for everyone.</li>
</ul>
</li>
</ol>
</li>
<li>Once the token sale ends, if there are any unsold tokens, they will be burned. The tokens that would have been allocated to the foundation and team (i.e the other 60%) will be proportionally burned.</li>
</ul>
<h4>Receiving / Transferring DAV Tokens:</h4>
<p>Tokens purchased at the main token sale are received immediately after the token sale is concluded. Tokens are not transferable for up to 14 days.</p>
<p>To add DAV as Custom Token within your ERC20 compatible wallet:</p>
<ol class="number-list">
<li><span>1</span>Click 'Add Custom Token'</li>
<li><span>2</span>Enter the Token information below:
<ul style="list-style-type: disc;margin-left:32px;">
<li>Token address: <em>[Will be announced before the token sale]</em></li>
<li>Token name: DAV</li>
<li>Decimals: 18</li>
</ul>
</li>
</ol>
<h4>Important Warnings</h4>
<ul class="line-list">
<li>Please be aware that DAV Foundation team members and moderators of official communities WILL NOT be asking for contribution before the actual token sale on June 11th, 2018. These are phishing attempts by scammers, and should you encounter these messages please report them to official team members or moderators on the community that you are most involved in.</li>
<li>MAKE SURE THAT YOU SEE HTTPS IN FRONT OF THE DOMAIN NAME: <span style="color:red;font-weight: 400;">https</span>://dav.network/</li>
<li>MAKE SURE THAT YOU ARE USING AN ERC-20 COMPLIANT WALLET. Do not use wallet addresses directly from exchanges (Coinbase, Kraken, Poloniex, Bittrex, etc.), or multi-sig wallets as you will not be able to access your tokens. We recommend using MyEtherWallet, Metamask, or the official Ethereum Wallet.</li>
<li>WE WILL NEVER CONTACT YOU VIA PERSONAL TELEGRAM MESSAGES </li>
<li>WE WILL NEVER ASK YOU TO SEND MONEY TO ANY OTHER WALLET THAN THE ONE PROVIDED ON THE WEBSITE</li>
<li>IF SOMEONE ASKS YOU TO SEND ANY MONEY TO ANYONE, CONTACT US IMMEDIATELY IN OUR TELEGRAM CHANNEL</li>
<li>PLEASE <a href="https://dav.network/">SUBSCRIBE HERE</a> TO ENSURE THAT YOU RECEIVE REAL TIME UPDATES REGARDING THE DAV TOKEN SALE</li>
<li>DO NOT send your funds before the start of the token sale</li>
<li>This TL:DR is for informational purposes only and should not be considered a prospectus or offering document of any sort and is not intended as sales or solicitation of an investment.</li>
</ul>
<h4>Final Note</h4>
<p>We are deeply grateful to each and every one of you for your support and for sharing the DAV vision with us. As members of the DAV community you have a special role in helping shape DAV’s development and rollout -- your input is important to us, and we will continue to listen carefully to your valuable feedback. We are encouraged by what the future promises and very much look forward to sharing this exciting journey with you!</p>
<h4 class="orange"><br>The DAV Team</h4>
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<h6>Location: <span>Tel Aviv</span> Type: <span>Full Time</span></h6>
<p>We are looking for amazing full-stack developers to join us in our Tel Aviv office and help us build the future of autonomous transportation.</p><br>
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<li>You know blockchain industry and get the basics (Ethereum, tokens, smart contracts, ICOs doesn't sound like Chinese to you) and want to be a part of a growing start-up.</li>
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