🗡️Insurgents, as the Discounted Community Round ended a few days ago, we are disappointed to say we did not fill our desired raise cap.

However, we are grateful to say that we raised just over $400,000!

The main points the community has raised pertaining to the raise are that the valuation of XCAL was too high, and vesting too long.

It has become clear to us that along with the concerns mentioned above - the raise process was too complicated.

We have taken the feedback given to us by our community, supporters and prospective investors and we would like to propose some significant changes to the XCAL valuation, raise cap, vesting schedules and supply distribution.

TLDR

Changes include:

• Only one public round (not Discounted Community Round, then Public Round)
• XCAL airdrop boost to previous DCR contributors
• Updated FDV of $9,963,000
• Updated XCAL total supply to 27,000,000
• Updated raise hardcap of $1.8M
• Updated token metrics

If You’ve Already Contributed

• If you have already contributed and do not withdraw, then your contribution will be counted towards the public round, at the new agreed terms.
• If you would like to contribute more, and are still under the new contribution cap, you are free to do so when the public round starts.
• For contributing, you’ll be eligible for an airdrop of XCAL. If you withdraw, then you will be excluded from the airdrop

Withdrawing your Discounted Community Round Contribution

We believe that the most honorable way forward is to offer those who contributed to the DCR under the previous terms the chance to withdraw their contributions.

If you choose not to believe and would like to withdraw your contribution from the Discounted Community Round - you are free to do so. Below we will explain the process.

How long are withdrawals open for?

• DCR withdrawals will be open from September 1st at 22:00 UTC to September 4th 22:00 UTC. A total of 72 hours.
• If you do not withdraw within this timeframe, you will also be eligible for the DCR airdrop and your contribution will be counted towards the public round, at the new agreed terms.

How do you withdraw?

• You may withdraw your contribution by visiting https://round.3xcalibur.com and following the instructions on the page
• Make sure you have connected your wallet to the network you contributed in
• If you contributed on both Ethereum Mainnet and Arbitrum - you will need to withdraw from one network and switch networks to withdraw from the other.
• You will receive the same assets you contributed in.

NB: If you would like to contribute more, and are still under the new contribution cap, you are free to do so when the public round starts. This means that if you contributed more than $42,000 in the DCR - you cannot contribute more in the public round.

Updates

XCAL Token Metrics

One public round

• Instead of hosting a “Discounted Community Round '' and then a Public Round as we had originally planned - we will only be hosting one public round prior to TGE/launch.

XCAL Total Supply

• We have reduced the XCAL Total Supply from 100,000,000 XCAL Tokens to 27,000,000 XCAL Tokens in total.

Price of Public Round XCAL

• The price of XCAL in the public round will be $0.369 per XCAL token.

Public Round Duration

• The XCAL Public Round will conclude after 21 days unless the allocation is filled (i.e $1.8M raised).

Tokens Available for Public Round

• 18% of the XCAL total supply will be available in the public round.
• This is an increase from the 9% that were available in the DCR.
• DCR contributors who do not withdraw will get the correct share of their tokens at the price of $0.369 not $0.50.

XCAL Fully Diluted Valuation

• The modifications made to the XCAL Total Supply and the price of each XCAL token in the public round means that the XCAL FDV at TGE/launch will be $9,963,000.

Public Round Hard-Cap and Soft-CAp

• We have reduced the raise hard-cap from $4.5M to $1.8M.
• We have reduced the soft-cap from $1.5M to $500,000.

Vesting

• As we will now be hosting only one capital raise prior to launch, there will be no vesting terms included. All contributors will receive their XCAL tokens at TGE.

Airdrops

Discounted Community Round Airdrop Boost

• As an expression of gratitude to all those who believed in the team and contributed to the DCR and did not withdraw - we will be airdropping additional XCAL tokens to all contributors.
• 0.5% of the XCAL Total Supply has been reserved for this airdrop.
• The airdrop will have no vesting.
• The airdrop will be proportional to your contribution.

Arbitrum Ecosystem Airdrop

• We will also be airdropping XCAL tokens to the wider Arbitrum ecosystem.
• 3% of the XCAL Total Supply has been reserved for this airdrop.
• Details on eligibility will be released in due time.
• This airdrop will have vesting.
• There will be some actions to perform on the 3xcalibur platform in order to claim it.
• More details on this airdrop will be released in due time.

XCAL Public Round

When will it begin?

• The XCAL Public Round will begin after the DCR withdrawal period is over.

On what chain will it take place?

• People will be able to participate in the round on both Ethereum Mainnet and Arbitrum One.

NB: The 3xcalibur Protocol will be deployed on Arbitrum. This means $XCAL tokens will be issued on Arbitrum and DCR claims will be facilitated on Arbitrum.

What is the token supply/allocation reserved for the XCAL Public Round?

• 4,860,000 XCAL (18% of the total supply) have been reserved for the XCAL Public Round

What are the valuation metrics?

• Round Allocation: 4,860,000 XCAL (18% of total supply)
• Price per $XCAL token: $0.369
• Fully Diluted Valuation: $9,963,000
• Public Round Hard-Cap: $1.8M
• Public Round Soft-Cap: $500,000
• Circulating Supply: 9,747,000 XCAL (36.1% of total supply)
• Circulating Market Cap: $3,596,643

Are there any minimum/maximum contribution amounts?

• There is no minimum limit to how much a participant can contribute however there is a maximum limit.
• Participants can choose to contribute up to $21,000 on each chain (Ethereum Mainnet & Arbitrum One), meaning that a participant can contribute up to $42,000 if they contribute on both chains.

Who can participate?

• Any individual can participate in the Discounted Community Round, with exception of:
  - Multisigs and contract addresses
  - Citizens/residents of OFAC sanctioned countries
  - OFAC Sanctioned addresses
  - US residents/citizens
• There is no early access and there is no whitelist

What currencies can you contribute with?

• Participants can choose to contribute to the $XCAL Discounted Community Round using up to 5 cryptocurrencies
• These cryptocurrencies are: $ETH, $FRAX, $DAI, $USDT and $USDC

When will the contributors receive their XCAL tokens?

• Contributors will not be given XCAL tokens right away. Instead, they will mint an SBT (soul-bound token) which represents an agreement for the promise of future tokens, which is legally bound to the 3six9 Innovatio founder. Think of it like a community on-chain SAFT (simple agreement for future tokens).
• Shortly after the XCAL Public Round begins:
• The 3xcalibur Incentivized Testnet will go live
• We will host a C4 Audit Contest with Code4rena
• Peer review of contracts
• We have also reached out to some audit firms
• 3xcaliSwap will launch immediately after the audit process and XCAL tokens will be distributed.
  

FAQs

What if I have already contributed?

• If you have already contributed and do not withdraw, then your contribution will be counted towards the public round, at the new agreed terms.
• If you would like to contribute more, and are still under the new contribution cap, you are free to do so when the public round starts.
• For contributing, you’ll be eligible for an airdrop of XCAL. If you withdraw, then you will be excluded from the airdrop.
  

When will the XCAL Public Round begin?

• The XCAL Public Round will begin after the DCR withdrawal period is over.
  

How long will the XCAL Public Round last?

• 21 days or until the hard-cap of $1.8M has been reached.
  

When do DCR withdrawals end?

• If you wish to withdraw your CDR contribution - you will have 72 hours to do so starting from September 1 at 22:00 UTC until September 4 at 22:00 UTC.
• If you do not withdraw within this timeframe, your contribution will be counted towards the public round, at the new agreed terms and you will also be eligible for the DCR airdrop.
  

What is the Airdrop Boost?

• If you had originally contributed to the DCR, then your XCAL token amount will be ‘boosted’ (i.e You will receive more XCAL tokens available to claim at TGE.)

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