Frequently Asked Questions

Q1 What is the Gibraltar Blockchain Exchange?
The Gibraltar Blockchain Exchange (GBX) is a subsidiary of the Gibraltar Stock Exchange (GSX), which aims to be the one of the world’s leading licensed and regulated token sale platform and digital asset exchange, operated by a European Union (“EU”) regulated stock exchange.
Q2 What is the Rock Token (RKT)?
The Rock Token (RKT) is an ERC-20 compliant utility token for use within the GBX/GSX ecosystem. Its primary use will be as a preferred medium of exchange. It will also be used to pay for fees within the full-service ecosystem, used for sponsor/issuer staking, and early access and possible discounts for future token sales on the platform. Please refer to part G of the Whitepaper for more detailed description.
Q3 What is the Gibraltar Stock Exchange?
The Gibraltar Stock Exchange (GSX) is an EU regulated market based in Gibraltar. It was licensed in Q4 2014, and opened fully for business in January 2015. The GSX does not share the same legacy issues as other trading venues, the goal is to establish a fully blockchain integrated stock exchange, creating a market for securities issued directly onto blockchains.
Q4 What is the mission of GBX?
The mission of the GBX is to establish a marketplace for utility tokens and cryptocurrencies operating within Gibraltar’s regulatory framework, providing issuers access to a wider community of token buyers, and to create a high standard for entry and a controlled environment with rules for admission and trading, with ongoing obligations and standards of conduct, under the GBX Rules.
Q5 What makes the GBX platform different?
The GBX aims to be the world’s leading token sale and cryptocurrency exchange which is licensed under a specifically created regime for DLT businesses. It also intends to be the first platform and exchange of its kind run by and according to the principles of a regulated stock exchange. It is also the only platform of its kind to form part of a much larger fintech ecosystem and financing pathway plan.
Q6 What is the GBX Alliance?
The GBX Alliance is “established with the community for the community” to support the development of the new digital economy in Gibraltar, formed from a cross-section of the community with international participants as well as those from Gibraltar. The GBX Alliance will be a forum for high-level discussions, for building consensus, confidence and trust and for developing thought leadership.
Q7 Why is RKT a “utility” token?
RKT is a utility token because of the nature of the service it provides the GBX ecosystem. It is the preferred medium of exchange between other tokens or cryptocurrencies and serves to uphold the integrity of the GBX governance framework.
Q8 What can you tell me about the Gibraltar Distributed Ledger Technology Regulatory Framework?
The legislation has been designed to provide an efficient, safe and innovative regulatory framework for firms engaging in activities not otherwise subject to regulation and that use Distributed Ledger Technology (DLT) for the transmission or storage of value belonging to others.

The regulations are a principles-based (not prescriptive) set of rules for third parties handling the “value” (assets, cryptocurrencies, private keys, and similar) on a third party’s behalf. The regulations are due to come into force in January 2018. Obtain more info on the DLT regulations at http://www.gfsc.gi/dlt
Q9 What can you tell me about Gibraltar?
Gibraltar is a British Overseas Territory and governs itself in all aspects except for foreign policy and defence, which are the reserve of the United Kingdom. Gibraltar has its own parliament and its own financial services regulator, the Gibraltar Financial Services Commission (GFSC).
Q10 Where can I see the whitepaper?
The whitepaper can be found on GBX’s website at https://gbx.gi/
Q1 When does RKT public initial token sale start?
The public sale of the RKT will start on 7th February 2018 at 12:00:00 UTC. The first 24 hours since the start of the sale is what is known as the Early Access Public Sale period and is only reserved for people who are early access whitelisted. After the initial 24 hours, all whitelisters can participate.
Q2 What does it mean to be early access whitelisted?
To be eligible for the exclusive Early Access Token Sale, one must have completed the KYC and whitelisting process within the start of the whitelisting period from 15th Jan to 4th Feb 2018.

From 7th February, there will be a 24-hour Early Access Sale for such early access whitelisters only. In the promotion of fairness to all interested contributors, there is a cap on the amount each contributor can contribute within the first 24 hours from the start of the public sale, and sale availability is based on a first-come, first-served basis. The price and cap has been decided by GBX and announced as of 5th Feb to be US$614.68 or 6,146.80 RKT. This equates to a 0.793 ETH cap based on an ETH/USD price of $775.30 as determined by a 3-day average of the Daily Close Prices on 4th, 5th and 6th February (UTC).

Those who have missed early access whitelisting but are interested in participating in the GBX General Public Token Sale will be able to do so on 8th Feb 12:00:00 (UTC).

Please find the registration guide at:
https://gbx.gi/policies/GBX-Registration-and-Whitelisting-Guide.pdf
Q3 How long will the token sale last?
For 1 week until 14th February 2018.
Q4 Can people still participate in the public sale if they miss the early access whitelist period?
Provided that RKT is not sold out in the Early Access Public Token Sale period, yes people can participate in the General Public Token Sale which starts on 8th Feb and ends on 14th Feb if they are whitelisted and while RKT supply lasts.

For the avoidance of doubt, whitelisting process is an ongoing process but those who manage to become whitelisted from 15th Jan to 4th Feb can participate in the Early Access Public Token Sale, which starts on 7th Feb.
Q5 What is the contribution price of RKT in ETH?
RKT price is pegged to the price of US dollar but in ETH (1 RKT = US$ 0.1). The price and cap has been decided by GBX and announced as of 5th Feb to be US$614.68 or 6,146.80 RKT. This equates to a 0.793 ETH cap based on an ETH/USD price of $775.30 as determined by a 3-day average of the Daily Close Prices on 4th, 5th and 6th February (UTC).
Q6 Is there a minimum purchase for RKT?
The minimum contribution accepted during any period of the RKT distribution is US$100 worth of ETH. This equates to 0.129 ETH as determined by a 3-day average of the Daily Close Prices on 4th, 5th and 6th February (UTC). Smaller contribution amounts will be rejected.
Q7 What is the maximum purchase of RKT?
From 7th February, there will be a 24-hour Early Access Sale for early access whitelisters only. In the promotion of fairness to all interested contributors, there is a cap on the amount each contributor can contribute within the first 24 hours from the start of the public sale, and sale availability is based on a first-come, first-served basis. The price and cap has been decided by GBX and announced as of 5th Feb to be US$614.68 or 6,146.80 RKT. This equates to a 0.793 ETH cap based on an ETH/USD price of $775.30 as determined by a 3-day average of the Daily Close Prices on 4th, 5th and 6th February (UTC). After that, there will be no max. So in the first 24 hours, everyone gets an equal allocation.

After this 24-hour period, if there is any RKT still available, there will be a General Public Sale period with no cap amount and availability will again be on a first-come, first-served basis, until 14th February or fully sold prior.

Please refer to our RKT purchase guide on our website for a detailed explanation: https://gbx.gi/docs/RKTContributionGuide.pdf
Q8 When will the RKT be distributed?
RKT will be distributed immediately by the smart contract but it is locked from transferring.
Q9 When will the RKT be unlocked after the token sale period?
RKT is currently set to be unlocked for transferring no later than 12:00:00 UTC on 26th Feb 2018.
Q10 What happens to the unsold RKT?
Any unsold RKT from the sale will not be issued and the total supply will be reduced accordingly.
Q11 What wallet should I use?
A general Ether wallet can be used to store RKT as it is an ERC-20 token.

Important: DO NOT PARTICIPATE IN TOKEN SALES DIRECTLY FROM ANY CRYPTOCURRENCY EXCHANGES. YOU NEED A TOKEN COMPATIBLE ETHEREUM WALLET.
Q12 Is there a bonus or discount for public sale participants?
There is no bonus or discount for public sale participants.
Q13 Is there a bounty campaign for the RKT sale?
Yes, there will be some forms of a Rewards Campaign. Please follow our official telegram channel for announcements: https://t.me/GBXCommunity

In the meantime, there is an Account Opening Gift of 20 RKT for all new registrants of GBX accounts. Registrants will also be able to join the General Public Token Sale that will begin on 8th Feb 12:00:00 (UTC).

(Normally, all applicants will get 1 RKT each after successful account opening)
Q14 Where can I buy RKT?
The GBX website is the only place where contributors can buy RKT directly. Due to our partnership with Quoine, a portion of RKT is also available through Qryptos, their crypto-only exchange. For Japanese citizens, RKT can only be legally purchased from their JFSA regulated Quoinex exchange.
Q15 How do I participate in the RKT token sale?
From 7th February there will be a 24-hour Early Access Sale for early access whitelisters only. In the promotion of fairness to all interested contributors, there is a cap on the amount each contributor can contribute within the first 24 hours from the start of the public sale, and sale availability is based on a first-come, first-served basis. The price and cap has been decided by GBX and announced as of 5th Feb to be US$614.68 or 6,146.80 RKT. This equates to a 0.793 ETH cap based on an ETH/USD price of $775.30 as determined by a 3-day average of the Daily Close Prices on 4th, 5th and 6th February (UTC).

After this 24-hour period, if there is any RKT still available, there will be a General Public Sales period with no cap amount and availability will again be on a first-come-first served basis, until 14th February or fully sold prior.

Please refer to our RKT purchase guide on our website for a detailed explanation: https://gbx.gi/docs/RKTContributionGuide.pdf
Q16 Can I trade RKT on other exchanges?
Our intention is to list RKT on multiple exchanges one of which will be Quoine - we want to ensure maximum liquidity and price transparency for RKT holders. We will carefully consider other potential exchanges, taking into consideration their on boarding procedures for participants, integrity and systems safeguards. We will also be listed on GBX when we are fully operational.
Q17 Who is eligible for the token sale?
Residents of the following countries are not eligible to participate in the token sale:
• China
Residents and Citizens of the following countries are not eligible to participate in the token sale:
• United States of America
• Republic of Korea
• Japan
• All U.N. Sanctioned Countries (View list)
Beyond which all other countries are allowed but all participants will be subjected to AML/KYC checks.
Q1 What is the planned use of proceeds?
Please refer to part G section 26 of whitepaper.
Q2 Who are the management and team behind the GBX?
The GBX management and team consist of the Gibraltar Stock Exchange founding team and the same executive, as well as experienced Ethereum and blockchain developers. Please refer to the full team in part H section 27 on the whitepaper.
Q3 When will the GBX be licensed under the DLT regulatory framework?
The GBX intends to submit the DLT application in January 2018.
Q4 When will the GBX cryptocurrency exchange be open?
The GBX cryptocurrency exchange is expected to be operational in first quarter of 2018.
Q1 How do I list a token on the GBX?
The listing rules of GBX will be published on our website in January 2018.
Q2 How can someone become a sponsor firm on the GBX?
The sponsor rules of GBX will be published on our website in January 2018.
Q3 How much are the sponsor fees/listing fees/trading fees?
Please refer to the Appendix section of the whitepaper.
Q4 Why the GBX/GSX doesn’t comment on price?
The GBX will refrain from commenting on prices as it is not the place of an exchange to offer opinions about the commercial or financial prospects of a cryptocurrency or token. Exchanges should ensure that their markets operate smoothly and that rules (intended for the benefit of all participants) are followed.
Q5 Are there any future plans for further funding rounds of RKT using the GBX Reserve?
The GBX Reserve is intended to be used responsibly in the future for further development and stability of the GBX Ecosystem.

RKT holders may be able to acquire future releases of RKT from the GBX reserve at a discount to the market rate.
Q6 What bonuses did those invited to the RKT private pre-sale receive?
Early strategic third party adopters were offered bonuses dependant on the scale of their support and their strategic importance. The bonuses were on a scale between 10 and 25%.

However, 50% of the entire pre-sale allocation is locked up and released equally over a period of 6 months.

These are the conditions fixed to protect the long term sustainability and health of our RKT tokens.
Q7 What is a Sponsor Firm?
In order to list on the GBX, a token candidate is required to appoint a GBX accredited Sponsor Firm. Sponsor Firms are body corporates and key influencers, with proven industry expertise, that have met the admission criteria set forth by the GBX and the Alliance council to be enlisted in the GBX trusted partners network.

Sponsor Firms are responsible for rigorous due diligence, advice and communication between the token candidate and the GBX throughout the entire listing process. Sponsor Firms are key to upholding best practices and assurance of quality.
Q8 What is the GBX Alliance?
To bring clarity and order with a rules-based system that is anchored on community consensus, the GBX intends to establish an international forum with representatives from cross sections of the community to form the GBX Alliance.

The GBX Alliance seeks to enable the best minds of the crypto industry to gather and form thought leadership around the growing token industry. The GBX Alliance would also serve as a thinktank to shape the evolution of Gibraltar’s crypto economy.
Q9 What is the GBX Alliance Council?
From within the GBX Alliance, members are elected to form the GBX Alliance Council.

The council, representing the voices of the community, works hand-in-hand with the GBX to review guidelines and standards that govern token listing and trading. The council is also pivotal in providing feedback on codes of conduct, sponsor firm admission criteria as well as an appeals committee.