Frequently Asked Questions
Here are some common questions about Argentas and AXU Tokens
1. What is the Argentas Platform?
As a powerful second generation blockchain project, Argentas helps to build new open global financial system. The Argentas ecosystem will be formed around its core HydraNet blockchain, network interfaces and bridge entities, and an eventual decentralized application platform focusing on global financial applications (the “Argentas Platform”). Argentas has the potential to become the blockchain for global finance. For more information, please read the Argentas Primer, Presentation, One Pager and Analysis as linked on the homepage as well as the Technical White Paper.
2. Who is building the Argentas Platform?
The Argentas Project is building the Argentas Ecosystem starting from the core HydraNet, the network interfaces and bridge entities, and later on the dapps economy leveraging the power of the network. With members and advisors based internationally, the Project focuses on creating advanced financial technology to meet its objectives as illustrated in the project primer and presentation.
The team members have a very robust experience in both the substance matter of the industry targeted and the technology used and developed. At founder level there is 20-year experience in Fintech, banking, payments and other financial services, and the track record of having built successfully robust Fintect platforms from scratch.
More information about the team members will be added later, when certain transitions have been completed. The Project is constantly looking for new, fresh talent to join its ranks, so if you are interested in joining us, please check out our current openings on the Careers page send your CV and cover letter at email@example.com.
3. Will the Argentas Platform be released under open source software license?
Yes, at the end of its development stage, Argentas Project will be releasing the protocol and blockchain it has developed under an open source software license.
4. What are AXU tokens?
AXU tokens are XLM compatible tokens issued and distributed on the Stellar blockchain pursuant to a related XLM issuing account and distribution account smart contracts (the “AXU Tokens”). The AXU Tokens have been verified and listed on the Stellarport decentralized exchange, as is normal for an asset issued on the Stellar blockchain. On Stellarport, the tokens can be conveniently bought, sold and transferred, and exchanged for other tokens and assets as per the functionality offered by the Stellarport decentralized exchange. This facility offered by Stellarport for assets issued on the Stellar blockchain is entirely independently of any action by Argentas, which makes the asset independent of Argentas, once issued on the Stellar blockchain.
5. What features, uses or attributes do AXU Tokens have? Can the AXU Tokens be used on a blockchain adopting the Argentas Platform?
Argentas Project is building the Argentas Platform but it may or may not configure and/or launch any public blockchain platform adopting the open source Argentas Platform. Any launch of the public blockchain may occur by members of the community unrelated to Argentas Project. Third parties launching the AXU Platform may delete, modify or supplement the Argentas Platform prior to, during or after launching the public blockchain.
The AXU Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the Argentas Platform.
6. What does AXU stand for?
AXU means Argentas Exchange Unit.
7. How does the AXU Token pre-distribution work?
The AXU Token Private Pre-Distribution will take place starting on 8 June 2018 at 13:00 UTC. A maximum of 100 million (100,000,000) AXU Tokens will be distributed during that period.
This represents 10% of all AXU Tokens. One billion (1,000,000,000) AXU Tokens will be issued, which will be a fixed amount, and no more AXU Tokens can be issued.
In the public AXU Token Distribution, a maximum of 600 million (600,000,000) AXU Tokens out of 1,000,000,000 will be distributed. The team and Company reserve will be 300 million (300,000,000) AXU Tokens for future purposes including also those third parties that have contributed to the project.
For more information, please read the instructions on how to participate in the distribution (click the Get AXU button on the page to see the instructions).
8. Why was this token distribution method chosen?
A lot of token distributions only allow a small amount of people to participate. The AXU Token distribution structure was created to provide a sufficient period of time and token volume for people to participate if they so choose, and, in particular, offer priority for the early fans, believers and supporters of the project in the form of a private pre-distribution period with advantageous terms. In comparison to the most commonly used Ethereum ERC-20 compatible tokens, it has been explained in this article on Medium, why the Stellar blockchain was chosen instead of Ethereum for token distribution.
9. Was there any AXU Token other sale or ways to obtain AXU Tokens prior to the commencement of the AXU Token pre-distribution?
No. This private pre-distribution is the first opportunity to obtain AXU Tokens. After that, there will be the public distribution of AXU Tokens at higher rates. The total outstanding amount of AXU Tokens will be one billion (1,000,000,000) AXU Tokens including pre-distribution and distribution.
10. Why are founding team's AXU Tokens being reserved for Argentas Project?
Founders' tokens were allocated to Argentas Project pursuant to feedback we received from the community in order to ensure that Argentas Project has aligned interests with those participating in the AXU Token distribution. The team and company reserve tokens represent 30% of the total AXU Token distribution, including also those third parties that have contributed to the project.
11. How can I participate in the AXU Token distribution?
To participate in the AXU Token distribution, you will need Stellar lumens (XLM), a Stellar compatible wallet, with the Stellarport wallet being recommended, to be able to acquire AXU through quickly, easily and securely on the Stellarport decentralized exchange.
For detailed information and suggestions on how to purchase AXU Tokens, click here (click the Get AXU button on the page to see the instructions).
12. What XLM compatible wallets are recommended?
- You will be able to activate a Stellarport wallet in a couple of simple and quick steps:
- Step 1: Go to the Stellarport website. Click the Sign up button.
- Step 2: Choose the wallet type: one with (i) keystore file (default choice – save the keystore file securely), (ii) key pair (save both and save the private key securely – you cannot lose it), or (iii) use your Ledger Nano S hardware wallet and connect it, if you have one. Follow instructions – there is also a tutorial link on the page if you wish to view it before acting.
- Step 3: After you have activated your Stellarport wallet and transferred Stellar lumens XLM to the wallet from your cryptocurrency exchange account or otherwise (please note that there is a tiny reserve needed on all Stellar accounts of at least 1 XLM before being able to use them), click the Exchange link on the top menu. You may need to confirm the login to trading with your wallet password. Now, please follow the guidance on how to acquire Stellar tokens on Stellarport (click the Get AXU button on the page to see the instructions).
13. Is there a minimum purchase for AXU Tokens?
The minimum contribution is practically 0.4 XLM for 1 AXU. However, a more meaningful amount of e.g. at least 5000 XLM is recommended (but not required).
14. How can I see how much XLM has been contributed during a the AXU Token distribution?
The amount of XLM received during the pre-distribution period will be displayed on the token distribution section of the homepage. The amount of XLM contributed can be also directly viewed on the Stellar blockchain.
15. Why can’t U.S. citizens, residents or entities purchase AXU Tokens?
It was decided that U.S. citizens, residents and entities should be excluded from purchasing AXU Tokens in the token distribution because of some of the logistical challenges associated with differing regulations in the many states of the United States of America. Argentas Project does not believe that the distribution of AXU Tokens or the AXU Tokens themselves are securities, commodities, swaps on either securities or commodities, or similar financial instruments. The AXU Tokens are not designed for investment or speculative purposes and should not be considered as a type of investment. Nevertheless, U.S. citizens, residents and entities should not purchase or attempt to purchase AXU Tokens.
16. I have contributed to the AXU Token distribution. When do I receive AXU Tokens?
You should receive the AXU Tokens immediately after your purchase was confirmed, if you have followed the instructions given on the token distribution section (click the Get AXU button on the page to see the instructions). To verify your AXU balance on your recommended Stellarport account, you may click the Wallet link in the top menu above, and the Balances link on the left. You will see your AXU balance on the screen together with the Argentas logo.
17. Are AXU Tokens transferable?
While Argentas Project will not be involved in any way in the transferability of the AXU Tokens, it is possible that AXU Tokens could be transferred on a peer-to-peer basis or on platforms operated by 3rd parties such as the Stellarport decentralized exchange or any other exchange choosing to transact in AXU Tokens.
18. Are there network fees when transferring AXU Tokens?
Yes, the AXU Token is an XLM compatible token; therefore, transfers will be subject to neglible XLM fees like all other transactions on the Stellar network. While the network fee for normal transfers is neglible, for purchases on the Stellarport decentralized exchange a fixed fee of 0.15% is charged by Stellarport.
19. What happens if I can’t contribute XLM or don’t receive my AXU Tokens?
The AXU Token distribution contract (distributing account), AXU Token smart contract (issuing account) and the AXU Tokens are being provided on an “as is” and “as available” basis without representations, warranties, promises or guarantees whatsoever of any kind made by Argentas Project. Prior to purchasing AXU Tokens, you should ensure that you carry out your own examination and investigation and carefully review in their entirety the risks associated with purchasing AXU Tokens as set forth in the Purchase Agreement. Purchases of AXU Tokens are non-refundable and purchases cannot be cancelled. Under no circumstances will you be entitled to receive money or compensation for any AXU Tokens purchased or your inability to purchase AXU Tokens.
20. Where do the proceeds from the AXU Token distribution go?
Proceeds from the AXU Token distribution will be the revenue of Argentas Project.
21. What does Argentas Project plan to use proceeds from the AXU Token distribution for?
Proceeds of the AXU Token distribution will be utilized by Argentas Project in its sole discretion. As listed in the Primer, Argentas Project intends to use certain of the proceeds e.g. for general administration and operating expenses, as well as to develop the Argentas Platform, its interfaces and bridge entities, build decentralized applications using the Argentas Platform, and helping to develop a wider ecosystem around it.
22. Why are proceeds from the AXU Token distribution not being donated to a foundation or other non-profit organization?
It has been conceived that the Argentas HydraNet blockchain will not be reliant on any one foundation, organization, or individual for its growth, development or maintenance.
23. Will Argentas Project be contributing to the AXU Token distribution?
No, during the entire AXU Token distribution period, Argentas Project itself will not purchase AXU Tokens by any means.