Frequently Asked Questions

SGPay FAQ

What is SGPay?

SGPay is a 3rd generation payments system built for the mobile platform. It aims to combine blockchain technology, a plethora of service providers and next generation e-payment systems – all in a single platform.

When will the Token Generation Event (TGE) start and how long will it last?

Our pre-contribution period for the TGE will start on the 1st of Feb and end on the 14th of Feb. Our main contribution period will be from the 1st of March to the 31st of March. If all tokens are sold out, the event will be concluded before the deadline. At any time after our soft cap of US$800,000 is reached, the team can choose to conclude the token event and not proceed with the main token event.

What will be the price of SGP tokens?

Pre-Contribution Period: US$0.40 [20% discount]

Main Contribution Period: US$0.50

How to participate in the SGP Token Event?

Enter your email address in the first page to start the process of getting whitelisted. Each participant will have their personal account with a step-by-step instruction on how to buy SGP tokens.

Can I send ETH from an exchange to the token wallet?

No, you cannot. Sending ETH from an exchange to the token wallet will result in your ETH being lost. You must send ETH from any Ethereum wallet: MyEtherWallet (no download needed), MetaMask (no download needed), Parity (Desktop), Mist (Desktop) among others.

What if not all SGP tokens are sold at the Token Event?

If the soft cap is not reached by the end of the main token event, all contributions will be refunded. If the soft cap is reached but the hard cap is not reached, all unsold tokens will be destroyed.

What is your public Ethereum wallet contribution address?

We will only post our public Ethereum address once the contribution period has started. Beware of scams and or people claiming to be from SGPay. Only reply to emails from hello@sgpay.org

SGP Tokens FAQ

What is SGP?

SGP refers to the SGPay Token which is a utility token based on Ethereum blockchain technology. Such Ethereum-based tokens can be used as a unit of account between merchants, affiliates and networks in a blockchain-based network. SGP is neither a security nor a commodity.

What is the total amount of SGP tokens issued?

The total tokens issued will not be more than 13,800,000. Total tokens allocated for the public are only at 10,000,000. No new tokens will ever be issued after the token event is concluded. The supply for our tokens is kept small to prevent devaluation.

Which payment methods will be accepted in the Token Event?

You can purchase SGP tokens with ETH. To participate in the Token Event, you will need to be whitelisted and follow the instructions thereafter.

What are the minimum and maximum buying transactions?

The Token Event will accept minimum contributions of 0.1 ETH and maximum contributions of 50 ETH.

For institutional/larger orders than 50 ETH, please email us at hello@sgpay.org

Where can contributors see their token event balance?

 

Tokens which are obtained by contributors can be viewed in the balance located on the user page or in your wallet. Our tokens will be distributed automatically to your chosen ERC compliant wallet after you have sent your Ether. You can view your SGP token balance by adding a token with the parameters as indicated below:

SGP Smart Contract Address: 0x33c623a2baafeb8d15dfaf3ce44095efec83d72c

Number of Digits: 18

Symbol: SGP

 

Are SGP tokens securities?

Based on the steps we have taken and the nature of our token which was built in accordance with our compliance advisers, SGP tokens will not be considered securities. They do not give dividends, represent a share of the issuer company, nor give any voting rights. We are continuously monitoring the evolving regulations in Singapore in the event of any changes.

Why is there a cap on maximum purchases for your tokens?

As the number of tokens we are putting up for purchase are limited compared to other projects, we aim to maximise the number of participants who can take part in our token event. Nonetheless, if you desire to place a larger order than the indicated maximum value caps for our project, do drop us an email at hello@sgpay.org

When would your tokens be listed on exchanges?

The team is targeting a listing on exchanges within a month after the end of the main token event.