Security Token of the SIMBA Storage company.

SIMBA Storage is pleased to share updated information regarding the issue of Security tokens, as well as the terms and conditions of their receipt.

Security tokens of SIMBA Storage will be listed on major Switzerland, Liechtenstein and EU countries exchanges. Security tokens are considered digital counterparts of valuable securities and their issue is possible with the appropriate licenses and permits.

Holders of the SST token (SIMBA Storage Token) that meet certain requirements:

• SST tokens (SIMBA Storage Token) are located at the same address (ERC-20) within 12 calendar months without being moved to other cryptocurrency addresses.
• Verification (2 or 3 levels) at the simba.storage website.
• Linking the ETH wallet, which stores SST tokens, to your personal account until 12/31/21 (inclusive).
  The ability to link hardware wallets to your personal account will become available by this time.

Snapshots (fixation) of token holders will take place on the 1st of every month.
The first snapshot of tokens at the addresses of holders will occur on 10/01/2021, verification the snapshot will occur on 10/01/2022.
The second snapshot of tokens on the addresses of holders will occur on 11/01/2021, verification the snapshot will occur on 11/01/2022.
And so on, in the same fashion.

Registration and verification on the website must be completed by the 1st day of the next month after the snapshot (fixation of tokens).
For example, you decide to take part in obtaining Security tokens from October 1, 2021, which means that you need to complete registration and verification on the website by November 1, 2021.
If you decide to take part in obtaining Security tokens from November 1, 2021, then you need to complete registration and verification on the website by December 1, 2021.

Those holders whose conditions have been met will be offered an exchange (swap) SST tokens to the company’s Security tokens.
The first dividends from the company’s profits will be disbursed in the first quarter of 2023 for the category of the first picture (holders from 10/01/21 to 10/01/22).

• If a certain part of the tokens is moved within 12 months, it (the moved part of the tokens) will not be taken into account when distributing Security tokens from SIMBA Storage.

For example, you purchase SST tokens on September 15, 2021 in the amount of 10,000 SST, then the first snapshot occurring on October 1, 2021 will fix the amount of 10,000 SST to your cryptocurrency address. After that, you decide to move your SST tokens to another cryptocurrency address on October 2, 2021 in the amount of 2,000 SST, and you decide to leave the rest of the tokens (8,000 SST) in place for 12 months.

Then you will be offered an exchange (swap) in the amount of 8,000 SST, since in order to exchange for Security tokens, the entire estimated amount of SST tokens must be stationary in one wallet for 12 months.

Considering another scenario, you purchase SST tokens on September 15, 2021 in the amount of 10,000 SST, then the first snapshot occurring on October 1, 2021 will fix your amount of 10,000 SST. After that, you decide to move your tokens to another cryptocurrency address on October 2, 2021 in the amount of 2,000 SST and return them back on October 31, 2021. Then you will be offered an exchange (swap) in the amount of 8,000 SST, since the tokens must be stationary for all 12 calendar months.

• In the event that tokens are sent to your cryptocurrency address in the future, they will be fixed from the 1st day of the next month after they are credited to the cryptocurrency address.

For example, you purchased SST tokens on September 15, 2021 in the amount of 10,000 SST, then the first snapshot occurring on October 1, 2021 will fix the amount of 10,000 SST.
After that, on October 3, 2021, you decide to buy more SST tokens in the amount of 20,000 SST. Then, on November 1, 2021, a snapshot will record you as having 30,000 SST.
Then provided that the full amount is kept on the balance, you will be offered an exchange (swap) for the company’s Security tokens in the amount of 10,000 SST. And after that you will be offered an exchange (swap) for the company’s Security tokens in the amount of 20,000 SST.

• In the event that you lose access to your cryptocurrency wallet storing SST tokens intended for exchange for the company’s Security tokens, the exchange (swap) for the company’s Security tokens is not possible.(Provided that access to the wallet has not been restored yourself).

Updated information on the rules for the exchange (swap) of SST tokens for Security tokens of the company will be posted on the official Medium page of SIMBA Storage.