Frequently asked questions
What is the uniqueness of the BMCHAIN project?
This is a decentralized platform of social interaction, built on the industrial type blockchain. The system will allow users to convert their experience, expressed by a personal reputation factor, into financial assets. For every action, such as writing posts, publishing materials, commenting, voting, sharing knowledge, etc. the project participant will receive a reward in the form of system tokens, which can be used to purchase the services and goods of other participants and partners of the platform or exchanged for other types of financial assets in the nearest future.
Unlike the Steemit project and its analogues, BMCHAIN will provide users with a wider range of monetization tools, which can be used not only when writing articles or commenting, but also when performing different tasks, assisting or sharing experiences. One of the distinctive advantages of the project will be the ability to evaluate deals. The results of the evaluation will be used to calculate the reputation factor, which will determine the amount of bonus tokens charged by the system based on the results of the performed action.
At the same time, the problem of honest reputation that many users face when searching for performers online, will be solved. The developed algorithm will allow to control the actions of participants and evaluate the result of the utility with the possibility of arbitration so that thousands of users can find the verified contractors on the reliable verified reputation basis and use their services for BMT tokens.
The social platform Steemit operates on the model "reputation - money", which demonstrates a high degree of abuse by participants, who have a large number of tokens and can monetize their own posts by using another account or by voting. We are developing a model in which the reputation assessment will be implemented by the fair system algorithm.
The capabilities of the platform, that is currently being developed, have been tested on real BM applications, which are used by more than 2 million users.
What is BMT token?
BMT Token is the digital key to all platform capabilities and the main value transfer tool in the system, which will also act as a financial asset and payment instrument.
Ethereum blockchain - an Ethereum network, within which BMT token is issued to ensure transparency, invariability and reliability of transactions and interactions between participants.
The owners of BMT tokens will have a wide range of applications, starting with the monetization of their experience in the BMCHAIN project, ending with the opportunity to purchase any services of BMCHAIN specialists and partners around the world. Totally 700,000,000 tokens will be distributed during ICO.
What is the price of BMT token?
The value of token is fixed for each of the ICO rounds with a gradual increase in the tokensale process. After the completion of ICO, BMT token will be listed on the exchanges and will be traded in pairs with other currencies at the average market price.
|Discount %||Price of token, ETH||Round|
|25||0.000107||September, 10 - 19|
|20||0.000114||September, 20 - 24|
|15||0.000121||September, 25 - 29|
|0||0.000143||September, 30 - October, 10|
How to receive tokens?
The first distribution of BMT tokens will be made on September, 10. In case you’ve participated in Pre-ICO or any of our bounty campaigns, you will receive tokens automatically.
Each user who sent ETH during Pre-ICO will receive tokens on September 10th. BMT will be automatically credited to the Ethereum address from which the transfer has been made to the smart contract. All participants who join the distribution of tokens after September 10th will receive tokens automatically once the transaction is sent to the ICO smart contract address.
Can I send ETH from exchange?
Sending ETH from exchanges is prohibited. In this case the exchange will get tokens. To get total control under your tokens you need to send the transaction from your personal Ethereum wallet which private key belongs to you. You can use the exchange account only to refill the balance of your personal Ethereum wallet.
In case you have already transferred funds from the exchange, unfortunately, tokens will not be credited to your account, since the smart contract automatically credits tokens to the address of the ETH sender. We recommend you to contact the technical support of the exchange, which you used for making a transaction, to get the information concerning the further transfer of tokens from exchange wallet to your personal ethereum wallet.
How can I check the total sum raised?
How to get tokens for free?
You can get bounty tokens by participating in our bounty campaigns, terms of participation in which are available at: (see BOUNTY chapter).
Bounty tokens are also credited for finding critical bugs in the system and active participation in the project development and promotion.
Can I transfer funds directly from my mobile phone?
For a mobile phone interfaces such as Ether Wallet are available, but we can not guarantee that their use is 100% secure. We recommend you to use Metamask and myetherwallet (both only for PC), as well as the PC version of Parity or Mist, to transfer and store funds.
Can I make multiple translations?
You can make several transactions from the one and the same or from different Ethereum wallets. Tokens will be credited to the account from which the transactions were made on September, 10.
An error occurred while transferring funds: "Insufficient gas"
If you send funds via MetaMask, Myetherwallet, Mist or Parity services, we recommend you not to change the default gas value (transaction fee in the network) to ensure that the transaction is correct. If an "Insufficient gas" error occurs, try increasing the amount of gas in the Gas limit field and try again. Please note that the minimum gas commission is 0.01 ETH.
An error occurred while transferring funds from Ethereum wallet: "Insufficient balance for transaction". What to do?
This error is connected with the insufficient balance for the execution of the transaction. The minimum transaction amount is 0.1 ETH.
Please, make sure that the balance is not lower than the total amount of the transaction, taking into account the commission charged. Make sure that the value in the "Max Total" field does not exceed the value in the "Amount" field. For example, if you want to send 1 ETH, you need to have at least 1.1 ETH on you Ethereum wallet balance. Otherwise, you have to refill the balance and try again.
Why it's not allowed to use Freewallet.org and Coinbase wallets?
It is forbidden to use these wallets, because in this case the owner of this service will become the recipient of tokens. To participate in the token distribution, you need to create a personal Ethereum wallet (on our site, by installing the Metamask extension for the Google Chrome browser or myetherwallet.com), save the private key, send funds to it from Coinbase or Freewallet, and then send them to the BMCHAIN contract.
On which exchanges is BMT token traded?
The listing of BMT token on exchanges is expected in autumn 2017, after the ICO platform completion. BMCHAIN team will do everything possible to speed up the process of adding tokens to the listing of popular exchanges.
How to contact you?
The BMCHAIN platform tries to maintain a high level of customer service. To this end, call center experts and online consultants work daily for helping the users. In addition, representatives and founders of the project answer to the users' questions in the official Telegram group.
email@example.com - general and technical issues
24 hours a day
online consultant on the site
24 hours a day
Telegram-group: communication with participants and representatives in real time
How to join the affiliate program?
Anyone who has a website, blog or social network account can participate in the BMCHAIN affiliate program. The reward size is from 3 to 10% from each transaction sent by the referral depending on the amount of referrals transactions, and is paid in BMT tokens to the Ethereum wallet specified during registration in the affiliate program.
To join the BMCHAIN affiliate program, it is necessary to send a special registration transaction to the blockchain network from the participant's personal account. This is required in order to record information about you in blockchain. In the future it'll allow you to receive rewards and statistics on referrals.
Attention! Payment for registration is not charged, you pay a system commission (gas). Please, make sure that there is at least 0.005 eth on your wallet balance, and also that its address is the same as indicated in the partner's personal account. In case the transaction is not sent, check, whether the Metamask wallet is active and unlock it if necessary.
After passing the confirmation you will be able to use a personal affiliate link, which can be used to attract referrals on the site, YouTube channel, Facebook or simply by recommending to a friend personally. For this purpose, you can also use the promo code. Each user who enters the promo code of the partner participating in Pre-ICO receives + 1% of tokens as bonus. If you use bmchain interface or Metamask, Parity or Mist wallets during registration, the system itself will offer you ready-made unique promotional code and referral link.
When using the Myetherwallet wallet, the balance of the wallet should be at least 0.005 ETH. In the opened window on the site specify the address of the contract, specify the ABI-contract, click the 'Connect' button, in the Promo String field you need to come up with a unique promo code that will be assigned to you and enter it. Attention! Create the Promo code which should consist of 5-6 symbols, it is recommended to use capital letters (or) numbers. Be sure to check its uniqueness through the function: 'chekPromo', if the result is 'FALSE' - then your PROMO code is unique and can be used. Use the setPromoToPartner function to register your PROMO code in the smart contract of the affiliate program. Send the transaction to the network paying the required network commission. If you did everything correctly within 5 minutes your transaction will be confirmed, PROMO code and a unique affiliate link will be displayed in your personal account.
All the statistics on referral transactions is available in the personal affiliate account, where you can also track your balance and operations. The first payment starts on 10/09/2017. Affiliate rewards will automatically be credited to the specified address of the Ethereum wallet immediately after the transaction is made by the referral.
How will unsold ICO tokens be used?
The issue of tokens will be made immediately after sending funds to the address of the smart contract. Thus, during ICO will be distributed exactly as many tokens, as much participants will contribute. A total of 700,000,000 BMT tokens are planned for this purpose.
When will the BMCHAIN platform be launched?
The launch of the first platform version is planned for the end of 2017 with the development on the Steemit basis of its own technologies and solutions. The created functional will allow any participant of the system to receive tokens for every useful action and start building their digital reputation, exchanging useful knowledge, experience, materials with participants around the world.
What is the investment attractiveness of BMCHAIN?
We strive to make participation in the project profitable for many users already at the stage of its development, therefore we offer the most favorable conditions for early participants.
Early tokensale participants receive a special discount of 50% for the purchase of the first BMT tokens. Thus, the earlier you participate, the lower the cost of tokens is for you and the more tokens you can get compared to the participants in subsequent rounds. Already at the end of ICO, the cost of the token will be doubled and will reach 0.000143 ETH. Entering the exchanges and increasing the number of participants and partners around the world, as well as an increase in demand for BMT token, will positively affect the token value, positively influencing the benefit of its holder.
How to create and refill the Ethereum wallet?
To participate in ICO BMCHAIN you need to go to the participant's account. The interface of the account is designed in such a way that even an inexperienced user can take part in ICO. In the personal account of BMCHAIN TDI you will be provided with generated unique public key (your wallet address) and a private key (access password) that you need to keep in a safe place. After saving the wallet, you can start refilling it. The most expeditious way to do this is through an exchanger like Changelly, where you can convert USD from your bank card into ETH and send them to your personal Ethereum wallet address (public key) created earlier.
It is necessary to take into account, that the minimum deposit is 0.11 ETH including the primary network commission. After depositing you will need to return to your account and send the transaction to the contract address. Tokens will be credited automatically. In case you make a transaction before September 10, the first tokens will be credited to your balance on September 10, 2017.
If you previously participated in any ICO and already have an Ethereum wallet, simply select the "You are an experienced user" block to find out the address of the BMCHAIN contract and transfer funds directly from your personal wallet.
What are the benefits of using BMCHAIN?
BMCHAIN is a decentralized platform of experience participating in which you can convert any competence or skill into money. We are expecting at least 500 000 participants using our perform only for the first year. This is the decentralized experience monetization platform which will give possibilities to convert any benefit into money and find experienced specialists with proven reputation. BMT token has a wide range of application starting from trading on exchanges ending with creation one's own blockchain solution, selling your services and buying products of our partners. We are working not only in Eastern Europe, though the support of the project is backed by over 2 million people living there. Over 3000 partners around the world have already agreed to accept BMT token as the payment for their services and products which will expand the demand.
vHow will the funds raised be distributed?
Here is the plan demonstrating how the funds raised will be distributed. The final one will be published on the website before ICO start:
- 5% - legal support
- 10% - project founders
- 20% - technical development of the system
- 30% - marketing and promotion
- 35% - affiliate network development and cooperation with partners
Why do you ask for my private key?