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RE: Block.one and Mike Novogratz’s Galaxy Digital Announce Joint Venture for New $325 million EOS.IO Fund

in #eos • 7 years ago

Warning: Newb Question!

  • Is there a difference between "EOS" and the "EOS Token" that is on that distribution sale for the next 134 days?

  • What is the benefit to the buyer of the EOS token distribution sale?

7 years ago in #eos by
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     7 years ago 

    I'll try to answer without confusing you more LOL...

    1. EOS is obviously the company/foundation that is creating the EOS blockchain platform. You can currently purchase EOS tokens on the EOS.io website through their ongoing distribution sale. However, if you reside in the United States you cannot purchase EOS tokens via their website due to security laws.

    2. If you reside in the US, you can purchase EOS tokens on any of the many exchanges (Binance, Kucoin, Bitfinex, etc) that lists the token. Maybe you are confused by the way that the tokens are listed on exchanges. EOS tokens will be listed as "EOS". So if you are buying on an exchange "EOS" = the EOS token. There is not a listing for EOS and another listing for a separate EOS token. They are one and the same.

    3. VERY IMPORTANT: Since these tokens are purchased outside of the distribution sale on EOS.io, they must be registered prior to the date that the platform goes live (June, I think??). If you don't register your tokens, YOU LOSE THEM ALL! Don't forget to register them!!!

    4. Here are a couple of links on the registration process:
      https://steemit.com/eos/@malexanders/how-to-register-eos-tokens-easily

    What's the benefit to the buyer? Well, owning a stake in the fastest, most flexible, most innovative, blockchain platform ever created. Other than that, nothing.

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     7 years ago 

    Oh boy...ok...so the EOS tokens I buy on my exchange is the same (or will be) as the EOS tokens sols on this distribution, except I have to buy it via ETH and register them? So once registered, those ETH tokens will convert to EOS tokens, just the same as my other EOS tokens I got on my exchange, correct?

    Man, I may need a 2nd cup of coffee to wake up my brain to process this.

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