FREQUENTLY ASKED QUESTIONS

What is the Digital Blockchain Foundation ( DBF Connect) Platform?

A holistic platform for your online interactions that combines the convenience of a centralized system with the security of a decentralized one.We are creating a distributed application that will transform the future of online communication and relationship building by bringing together individuals, communities and shared interests to form an innovative, protocol-layer solution.

  • For more information:
    • https://launchpad.dbfconnect.io/whitepaper
    • https://launchpad.dbfconnect.io/onepager

 

What is blockchain?

Blockchain was first introduced and was popularized with Bitcoin. The blockchain combines information blocks into chains, encrypts them and then stores them in parallel on thousands of computers distributed all over the world. The information on the blockchain is no longer stored on a central server, but in an encrypted form with all participants of the network.

 

What is an Initial Coin Offering (ICO)?

ICO is the abbreviation of Initial Coin Offering and refers to the creation and sale of digital tokens to fund the development of primarily Blockchain related projects. In an ICO, a project creates digital tokens and sells it to the public.

  • For more information:

 

What is a token?

Tokens are a representation of a particular asset or utility, that usually resides on top of another blockchain. Tokens can represent basically any assets that are fungible and tradeable, from commodities to loyalty points.

 

What is a Smart Contract?

A Smart Contract is code that is deployed to the blockchain. Each smart contract contains code that can have a predefined set of inputs. Smart contracts can also store data. Following the distributed model of the blockchain, smart contracts run on every node in this technology, and each contract’s data is stored in every node. This data can be queried at any time. Smart Contracts can also call other smart contracts, enforce permissions, run workflow logic, perform calculations, etc. Smart contract code is executed within a transaction – so the data is stored as a result of running the smart contract (i.e. the state) is part of blockchain’s immutable ledger.

 

What is an ERC20 token?

ERC20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. ERC stands for Ethereum Request for Comment, and 20 is the number that was assigned to this request. The clear majority of tokens issued on the Ethereum blockchain are ERC20 compliant. ERC20 defines a common list of rules for Ethereum tokens to follow within the larger Ethereum ecosystem, allowing developers to accurately predict the interaction between tokens. These rules include how the tokens are transferred between addresses and how data within each token is accessed.

 

Why will DBF use the ERC20 standard?

The DBF Token will be implemented on the Ethereum network, as an ERC20 compatible token. The DBF Tokens, being ERC20 compatible, can be managed through any wallet that supports the standard, as well as through the DBF Connect website, which will be used to manage the Token balance prior to the smart contract and community challenges of the project.

 

What is a crypto wallet, and which wallet should I use?

It is a software program that stores your tokens, enabling you to send and receive tokens through the blockchain, as well as monitor your balance. For Ethereum, we would suggest using Ethereum Wallet or MyEtherWallet.

 

How can I proactively support the DBF Team?

  1. If you relate to our mission, vision and values and want to support us, then email us at  [email protected] and let us know where you can support and how in the following areas:
    1. Marketing
    2. Technology
    3. Legal
    4. Funding
    5. Other

    2. If you can’t wait until the main sale and want to buy DBF Tokens, at a 50% discount rate, then lets talk. Minimum contribution is 25 ETH or €15.000,00.

 

Which cryptocurrencies are accepted in the DBF Token sale?

We only accept Ethereum (ETH).

 

How to register to the DBF Connect Platform?

  1. Visit https://launchpad.dbfconnect.io/.
  2. Click “Sign up”.
  3. Fill out the registration form (direct link: https://token.dbfconnect.io/register) and click “Register”.
  4. Click on the confirmation link on the email you receive after registering.
  5. The confirmation link will take you to the launchpad.

 

What is referral and how does it work?

The main idea behind the referral system is to incentivize new users to invite their peers to the platform. Every user has a unique referral link available in the Community Challenges section of the launchpad. These unique links enable the platform user to invite anyone to join DBF Connect Platform and also reward the link owner with 100 DBF Tokens.

 

What are DBF Community Challenges?

DBF Community Challenges are incentivized reward mechanisms offered to individuals, allocated as results of qualified actions in the ecosystem. DBF is introducing Community Challenges for all enthusiasts, with the goal of rewarding early adopters with DBF Tokens.

 

How do I take part in DBF Community Challenges?

  1. Sign up at https://launchpad.dbfconnect.io/.
  2. Check the current community challenges from the launchpad and see their requirements.
  3. Claim your DBF Tokens after completing the requirements.
  4. Invite peers with your referral link to claim additional daily tokens with every new user who signs up using your link.

 

What is KYC?

KYC means Know Your Customer. It relates to a standard verification process that is common to ICOs, opening a bank account, etc. KYC is a requirement by many authorities around the world to prevent money laundering. It is part of the due diligence process by which a company/ICO can verify the identity of its customers, ensuring that the money transfered was acquired legitimately and that the customer is not a part of a sanctioned list, a criminal or a corrupt organisation.

 

Do I have to go through KYC?

Every user registered to the platform who wants to buy/claim tokens has to go through the KYC process.

 

How do I buy DBF Token?

  1. The main sale starts on October 15th.
  2. After registering on the website, sign in to your account.
  3. Click on “Purchase DBF” tab. (Feature active in September 2018)
  4. Complete your profile details and click the “Verify My Identity to Continue” button at the end of the form.
  5. You will be directed to an IDnow verification page for KYC/AML check.
  6. Follow the instructions and you will be verified.
  7. After being verified, you can proceed to order your tokens.
  8. Fill in your desired contribution amount and click “Order Summary”. On this page, you can review your profile and submit your order.
  9. You will be presented with an ETH address and QR code. Please send your contribution in 5 calendar days.

 

Where will I get my DBF Tokens?

Your DBF Token will be issued to the ERC20 wallet address from which you sent ETH to us.The DBF Tokens are planned to be issued to all contributors no later than 6 weeks after the final sale event, the Public Sale, ends. Please do not send ETH from an exchange account or using a smart contract.

 

Why shouldn’t I send ETH from an exchange account?

If you send ETH from an exchange account or smart contract, your tokens will be allocated to the exchange’s ETH account, and you may never receive or be able to recover them. The reason for this is that most exchanges do not support new tokens unless they are listed and you will lose your tokens if you send provide an exchange wallet.

 

When will I get my DBF Tokens?

After we confirm your transaction, the balance on DBF Connect launchpad will update to reflect how much DBF Tokens you have bought or claimed. DBF Tokens are planned to be issued to all contributors no later than 6 weeks after the Public Sale event closes. This timeline is subject to further adjustments in the event of an unforeseen development, legal, certification or regulatory compliance roadblocks.

 

What can I do with my tokens?

The DBF Token serves as a utility token and will be set up as an ERC20 compatible token. As a result this will provide you with:

  • Access to features on the platform
  • Platform rewards for new connections, collaboration, and cooperation among people by incentivizing such activities.
  • Earning more tokens through activities on the platform
  • Fueling the Rewards Engine
  • Enabling the community to take part in new features/modules of the platform through DBF Token provided SOLELY by DBF Platform

 

What does the transaction history show?

After login, at the “Home” tab, a transaction history is used to show the amount of tokens you have purchased, at what time, and how it affected your balance.  

 

What is the minimum purchase amount during the Public Token Sale?

The minimum contribution amount (buy-in) for DBF Tokens is 0,1 ETH.

 

How are the funds secured?

All funds collected during the sale will be deposited in secured multi-signature wallets. Keys to these wallets will be held by C-Level executives of DBF Connect so that all transactions will require verification by multiple, trusted officers.

 

Didn’t find your questions here?

If you have a question that is not covered by these FAQs, then please contact us at [email protected].