FAQ

Started this page to cover typical questions.

When does Round B start?

Round B starts on Tuesday, Apr 19, 2022 and ends on Thursday, May 19th, 2022. See the announcement here.

How do I get my Ether now?

The refund is now on. Proceed to the Round A instructions.

Why the exchange rate is 0.0002737… ?

Here is how the rate is calculated. Let’s take total supply of tokens:

Deduct the tokens that have been burnt before for some reason:

We end up with total number in circulation: 5,639,000

Now the amount of ETH left in CrowdWiz wallet in possession is:

Simple division gives us: 0.000273790288642 ETH per WIZ token.

I have paid $1.00 per token on ICO why the refund is only $0.16 or so???

Roughly 1544 ETH is on the wallet. This is majority of crypto funds raised during ICO.

  • Some of the crypto funds (approximately 25%) was spent by the project before the funds were locked.
  • The value of ETH at the time of ICO was higher than the value now.
  • A portion of the funds were raised by fiat and the fiat contributions are not recovered. I have no truthful info on how much that is. You can read the long story why if you have the patience.

All of these facts effect the dollar amount refunded.

That said, you must remember that the rate of 0.000273 ETH per WIZ token is guaranteed by smart contract in round A. In two years I will launch round B, where unspent ETH will be sent to those who claimed in round A. So the actual rate will be higher.

Why the funds are distributed among holders rather than original ICO investors only?

To some it may seem fair that the contributions are refunded to the original ICO investors. However there are major problems with this approach.

  1. Shall ETH be returned to ICO contributors who sold their tokens already? Probably not.
  2. Is there are a way to tell whether the tokens were sold or simply moved to another wallet or an exchange? No sure way that I know of.
  3. What about investors who contributed directly to CrowdWiz via cash or wire transfer? I personally have no such records. Since actions of CrowdWiz management I consider fraudulent I can not trust the information they could potentially provide.
  4. Why the rest of the token holders (e.g. those who bought tokens on an exchange) shall be discriminated?
  5. Will the contributors agree to pay for the overhead created for managing the validation of who the ICO investors were? Do I organise a voting process ? The process becomes a project by itself.

To me the distribution to all holders seems to be the only option.

What happens if I decide to keep my WIZ tokens? Will the project continue?

This question should be addressed to the current management of CrowdWiz – Micha Golod. Afaik he can be reached at t.me/Crowdwiz. If you want my opinion read these blog posts:

So when can I sell my WIZ?

The Round A started on Christmas – Dec 25, 2020. It ends on Tuesday, April 19, 2022. If you still have WIZ in your possession after Apr 19, 22 you will no longer be able to refund ETH. The refund lasted over a year and has come to an end due to inactivity.