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F.A.Q.

General Questions

What is 8gig?

8gig is a collaboration between The Piece of Eight Foundation and 8base to build a decentralized developer network called the 8gig Network that allows individuals to cooperate with each other on the development of innovative software applications. With the advent of blockchain technology, we now have the ability to enable cooperation among participants worldwide like never before. 8gig facilitates cooperation between participants in the economy through the use of a blockchain-based reputation management system, dispute resolution system, and token-curated registry powered by the Piece of 8 token.

Why does 8gig need a token?

The advent of blockchain technology has provided an unprecedented opportunity to disrupt the way marketplaces function.  By tokenizing the 8gig network, we can enable interactions, align incentives, and encourage desired behavior among network constituents like never before.

The primary purpose of the Piece of 8 token is to curate the decentralized marketplace of extension to the Serverless Chassis, the low-code tool provided to developers using 8gig through a collaboration with 8base. Using the Po8 token, we can ensure that only the highest quality extensions are admitted the marketplace without relying on a central authority to review and police submissions. Instead, highly skilled developers who have worked to improve their reputation score can act as validators and, along with the rest of the community, curate the marketplace to further enhance the power of Serverless Chassis.

Tokenizing 8gig has other benefits as well.  In any global marketplace, transacting in fiat currency comes with a cost.  By utilizing a native token, we can reduce transaction friction and enable cross-border cooperation without having to pass on additional costs to users.  Moreover, the blockchain’s properties of immutability and finality provide an advantage to developers, who no longer need to worry about their ability to get paid, chargebacks, or the delays associated with the traditional banking system.  With the Po8, developers can be certain that they will receive the agreed upon price as soon as project specifications are met or a marketplace extension is utilized.

Tokens also allow for the gamification of work performed in the ecosystem.  While the 8gig network was created as a means of allowing individual developers to capture their share of the $2 trillion digital transformation market, there’s no reason why it can’t be fun.  By creating a token-powered ecosystem, the 8gig network increases transparency, aligns incentive, cuts costs, and allows developers to monetize their skillset in a fun and interesting way.

Why is the token called the Piece of 8?

The Piece of Eight, also known as the Spanish Dollar, was a silver coin minted in the Spanish Empire after 1598 and was widely used by many countries as the first world currency. During the conquest of the New World, pirates were known to intercept ships transporting large quantities of Pieces of Eight, in open rebellion of the seat of European power. As we transition to this new crypto paradigm, The Foundation felt it fitting to borrow the name from this globally accepted, foundational and transformational coin.

Who can participate in the token sale?

In the United States, the token sale is limited to accredited investors that have passed stringent know your customer (KYC) and anti-money laundering (AML) background checks. Identity verification is provided by Onfido and accreditation verification is provided by Verify Investor.

Purchasers outside of the United States will also be subject to know your customer (KYC) and anti-money laundering (AML) review, and will be required to self-certify their status as accredited investors. Depending on your country of origin, other restrictions may apply.

How do I purchase tokens?

Visit https://tokensale.8gig.io/ and register using your email address. Once you are registered, you will be asked to complete some information so we can verify your identity and status as an accredited investor, if necessary.  

How do I verify important announcements from 8gig?

Please confirm that 8gig is sending the message. The most consistently updated and verified announcements can be found on our Telegram group and blog.

Have additional questions?

Can’t find the answer you’re looking for? Join our Telegram group to chat directly with the team and ask any questions you might have. You can also email tokensale@pieceof8.org for help.