As you know, Karma’s campaign has successfully ended last Friday. In this article, we would like to tell you a little bit more about what will be coming next after the campaign focusing mostly on the questions frequently asked by equity holders.
Also available in Korean and Russian:
Where Can I Find My Karma Token?
First of all, your token is not in your wallet yet. You can check that you have successfully completed the swap in the transaction history in your profile.
You will be able to claim your tokenized equity only after the completion of legal procedures. Until these procedures are completed, your tokenized equity, raised BTC, swapped KRM are held by the Smart Contract and cannot be withdrawn.
Which Legal Procedures are Needed to be Done Now?
First, Karma will proceed with the petition for the registration of the share capital increase of Karma People OÜ. As the campaign is structured under Estonian jurisdiction the process may take a while due to the novelty of the offering itself: regulator may require additional documents to verify the capital increase.
As we knew that these steps will be required from the beginning. In the subscription agreement, Karma has identified that the maximum timeframe for these steps is 6 months, however, Karma’s team is doing their best to complete the process in the shortest timeframe possible.
In the case, with Tokenomica Pre-ETO previously, it took us about a month and a half to complete all legal procedures, we have shared our experience earlier this year in our blog: https://blog.tokenomica.com/how-to-conduct-a-successful-offering-of-tokenized-equity-in-the-eu-sharing-our-personal-experience/
With Karma, the process is basically the same. As soon as the process is finished, we and the Karma team will contact you through email and will explain how you can redeem your equity (It just takes two clicks to claim your equity).
Do I Have to Do Anything Now?
As of right now, there are no actions required from your side. The Karma team will do their best to complete the process in the shortest timeframe possible. However, due to the novelty of the process, you never know what might be requested by the court. It is possible that you might need to sign some documents and send them to the Karma team but it is not the case right now. Both us and Karma will make sure to update you on the status of the process.
And What Will Happen After Equity is Claimed?
After you will claim your equity, you will become a full-fledged shareholder and will be able to receive dividends, take part in shareholder votings. We have covered company-shareholder relations previously in our blog: https://blog.tokenomica.com/how-karma-is-going-to-build-company-shareholder-relations-after-the-swap-1-year-perspective/