As pointed out in our last post, the Particl funding round lasted four weeks, had 1658 participants and converted over 77% of the SDC network to PART! However, do the math and roughly a quarter of SDC tokens were left unconverted; either on their owner’s own accord, funds being locked behind withdraw limits, inactivity for a long period of time, lost wallets and any number of other reasons. While the final numbers won’t be finalized until all the mis-appropriated funds are sorted, our funding participants should know that any unconverted SDC is equal to the remaining unclaimed PART.
We specifically address unclaimed PART tokens in the FAQs section of the conversion site.
Unconverted SDC tokens = Unclaimed PART tokens
At the close of the funding round, 5,150,210 SDC were converted from a total supply of 6,642,140 SDC. That leaves 1,491,930 SDC tokens left unconverted or 1,491,930 PART tokens left unclaimed. The 80/20 split gets applied to PART tokens left unclaimed: 80% to seed round participants and 20% donated to the foundation to be used for the continued development of the Particl Project.
Support, as mentioned previously, is in the middle of allocating PART to participants who mis-appropriated tokens to our transparency addresses instead of their personal addresses created in the dashboard. We will be in touch with everyone who has reached out to us specifically regarding this. All emails sent to support are being addressed as well, please be patient.
Over the coming weeks we will remedy any missing PART tokens remaining in participant’s accounts, make the final funding numbers public and allocate 80% of the remaining unclaimed PART to token holder’s dashboard accounts.
Thank you for your patience and thank you for supporting Particl for the next 9 months!
The Particl Team