Foundation News: Refunding small and late contributions


#1

The Tezos Foundation is committed to upholding the best interests of its supporters. As such, we decided early on that late or subthreshold contributions could be returned if the contributors so desired.

Doing so securely is not a trivial endeavor. It is not enough to “just refund” the addresses as some contributions may originate from exchanges or, in the case of Ethereum, smart contracts. The security model of the fundraiser is based on the ownership of private keys, not on contributing addresses. Therefore, the Tezos development team has been working on developing a secure website for contributors who fell below the limit or contributed too late to ask for their contributions back.

The application will let contributors sign a refund request with their Tezos private key. The refund request will contain Bitcoin and Ethereum addresses of the contributor’s choosing to receive their funds back. What’s more, contributions that fell below 0.1 BTC but above 0.05 BTC will have the option of either being refunded or being counted towards the recommended allocation. Contributors who contributed above the threshold but also made subthreshold Bitcoin transactions will also have the opportunity to request a refund for these transactions.

Much like the original fundraiser website, it will be possible to use this application on an airgapped computer. We recommend using an airgapped computer whenever entering your mnemonic and password anywhere.

We will collect the signed requests in a first phase, ensure there are no issues with the requests, and then proceed to send reimbursements. We appreciate your patience with this process. Security is our first priority.

In total,

2,247 wallets had at least one Bitcoin transaction below 0.1 BTC for a total of 112.93 bitcoin.
427 Ethereum transactions fell below the threshold for a total of 88.54 ether.
71 wallets had late Bitcoin contributions for a total of 23.46 bitcoin.
In total, refundable Bitcoin contributions represent less than 0.21% of the total amount of bitcoin contributions and refundable Ethereum contributions less than 0.025% of the total amount of ether contributions.

Official Link: https://www.tezos.ch/pages/contribution-refund.html#contribution-refund


#3

00 send me my money I need money


#4

“contributions that fell below 0.1 BTC but above 0.05 BTC will have the option of either being refunded or being counted towards the recommended allocation”

What is the default solution on this? Will members who contributed above the .05 mark need to do anything in order to stay a part of the project? Will a request have to be issued to keep our contribution counted to the allocation?