Frequently Asked Questions Regarding the Upcoming IGNIS ICO (Will Update as More Info is Announced)

self.Ardor5y ago
**Please refer to [this FAQ]( for more up-to-date information. For help with navigating through the user interface on the client please refer [here](** --- ~~This isn't a full FAQ like what I have over at /r/Nxt, but I decided to create this to address the repeating questions that have been coming up. This week, answering direct messages and other methods have been very time consuming on my part and have slowed things down, among other things. Please note though that I'm not part of Jelurida, the development company, but the Nxt Foundation, which provides support to the community and the projects that run on Nxt and, soon, Ardor. So, if they make a new announcement on their [website]( or [Twitter account]( that contradicts what is stated here, please follow what they stated instead as it's probably more recent and I just haven't been able to update this yet. That said, I will be updating this FAQ as soon as possible when I get informed of the announcement. All quotes on this post come directly from the [ICO page]( at the time this post was last updated. **When will the ICO start?** August 5th this year **Will Ardor and IGNIS still launch in Q3?** With the structure announced in the ICO page, since the Ardor Genesis Snapshot, which is required for Ardor to launch, will not happen until at least 2 weeks after the ICO has ended, which has the latest day of October 14th, Ardor will not launch until early Q4. **What coin will be used for the ICO?** >The token sale itself will be conducted on the Nxt blockchain platform. A "controllable currency" called JLRDA will be issued and offered for sale in several consecutive rounds. The price of the JLRDA tokens will be denominated in NXT and will increase at each round. >Purchasing JLRDA tokens will require NXT, however users will be able to exchange other cryptocurrencies to NXT conveniently within the Nxt wallet using the integrated ShapeShift and Changelly third party exchanges, subject to availability. >For 1 JLRDA token the participants in the ICO will receive 1 IGNIS coin at the time of the Ardor Genesis Snapshot. **When is the IGNIS snapshot?** The IGNIS snapshot will happen after the ICO. Users who hold NXT will receive 0.5 IGNIS. No NXT will be burned. The amount of ARDR you have will not affect the amount of IGNIS you receive. >The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round. **How do I claim my IGNIS after the snapshot?** If you participate in the snapshot, then you will be able to get your IGNIS by using the same passphrase on the Ardor wallet after it launches. **Can I keep my NXT and ARDR on exchanges?** While it's always recommended to use the Nxt core wallet to hold your NXT, we are coordinating with exchanges regarding the snapshot and will make an announcement when things are finalized. At the moment, there are a lot of logistical issues regarding this, though the exchanges we've spoken with so far have been cooperative. **What will happen to the ARDR on Nxt after Ardor is launched?** They will need to be removed. When Ardor is launched, the ARDR asset will move from being an asset on Nxt to a coin on its own blockchain. Like with claiming your IGNIS, all you have to do is use the same passphrase in your Nxt wallet to the Ardor wallet and your ARDR will already be there. **What do I need to do to get ARDR and IGNIS after launch?** Just keep your passphrase safe and use that on the Ardor wallet. **Why is ARDR not used for the ICO?** See above for the technical restrictions regarding the ICO and why NXT is used. However, ARDR is on Changelly, so if it becomes activated before the ICO, contributions can be sent in ARDR to be converted into NXT.~~ ---