Frequently Asked Questions
A. General FAQ for Token Investors
1.Is there a minimum or maximum limit for investing in Selendra (SEL)?
There is a minimum investment requirement of $10 US dollars (or the equivalent in crypto assets), while there is no maximum investment limit.
2. How can we invest in Selendra (SEL)?
To invest in Selendra (SEL), you must first own Bitcoin (BTC), United States Dollar Tether (USDT), or some other negotiable crypto assets which you will be able to exchange for Selendra (SEL).
To buy and hold BTC, USDT, SEL, or any crypto-asset, you will first need to have a crypto wallet application and then use that wallet application to deposit and hold your crypto assets.
A crypto-asset wallet can be an offline wallet, such as the Trust Wallet, or a wallet incorporated into a crypto-asset exchange network. Some crypto-asset exchange networks we recommend are Binance, Kraken, and Poloniex. Once connected to your favourite crypto-asset exchange network, you can purchase BTC, USDT, or other popular crypto assets there.
Instead of buying through a crypto exchange network, another method is to buy BTC or USDT from anyone you may know who is willing to sell, but you will still need a wallet in which to deposit your crypto asset purchases.
An all-around good choice for a wallet is the Trust Wallet, the Metamask Wallet, or Selendra’s own Bitriel Wallet. All three wallet application recommendations above are available through the Android and iPhone App Stores.
In Cambodia, to buy crypto assets directly from individuals instead of through a crypto exchange network, visit http://t.me/cryptonomadex to connect up with a group of local professionals who buy and sell crypto assets locally.
In other regions around the world, you should be able to find similar such groups as http://t.me/cryptonomadex that facilitate the direct and independent local buying and selling of crypto assets. Once you have your wallet and hold a balance of crypto assets, you may exchange your crypto assets for Selendra (SEL).
3. How do we hold, store and keep our crypto assets safe and secure?
Selendra (SEL) crypto assets are now supported by three wallets. An all-around good choice for a Selendra (SEL) wallet is the Trust Wallet, the Metamask Wallet, or Selendra’s own Bitriel Wallet. All three wallet applications above are available through the Android and iPhone App Stores.
All crypto asset wallets require you, the wallet owner, and you alone to safely keep, store and remember a 12+ word phrase somewhere safe offline. These 12+ words in sequence act as your password key, so be careful never to lose or forget your word sequence string. There is nowhere and no one to turn to if you lose this password key to your wallet.
4. What are my risks and rewards in buying and holding Selendra (SEL)?
Selendra (SEL) is a crypto asset that generates, stores and manages value-added through the Selendra Blockchain Network, the interplay of a unique network node base, its community of developers, and a global network of users.
As with all crypto assets, Selendra (SEL) is a high-risk / high-stakes investment. You must consider an equal measure that you could lose all of your investment in time or enjoy significant gains. Selendra (SEL) is a broad-based, long-term investment into the global blockchain industry. The Selendra team and a network of developers are a dynamic and growing
body of innovative technicians who deploy blockchain applications to create and capture value-added for themselves, their users, and the Selendra network.
5. How do I know Selendra (SEL) is not some sort of scam?
Your best defence against any scam is to be well informed and knowledgeable about the investment product under consideration. As an independent investor, you must perform “due diligence” toward investigating the investment product you are about to purchase.
The Selendra team of developers has been honest and forthright in presenting the technical details, risks and investment potential of the Selendra Blockchain Network. The technical details in our “White Paper,” this FAQ, our open online forums, and the personal representations of the founders and developers bring stability and accountability to this investment product.
The Selendra team manages an official public channel and discussion group on Telegram to find information archives, support services, and the latest
announcements. In addition, you may present questions and make comments in our open public forum. Please join and participate in our community forum here: https://t.me/selendraorg
Selendra is an open-source development project with the source code stored and managed on Github. Selendra source code is openly available for public review, and developer contributions are welcomed for consideration. Complete documentation for developers is being continually updated and can be found at https://docs.selendra.org.
6. Who is the Selendra team, and what is their role?
Selena’s initial inspiration and seed investment spring forth from our sponsoring parent company SmallWorld Venture, a venture builder and seed investment fund based in Phnom Penh, Cambodia.
The Selendra team has been dedicated to research and development within the blockchain industry since 2016. From the beginning, team members held on to a long-term focus, envisioning building a valuable and practical blockchain infrastructure that would effectively serve generations into the future.
Cryptocurrency scams today are mainly variants of pooling together a group of unwary investors, pumping up the token price through outlandish claims, then quickly dumping the token for a windfall profit before the inevitable crash in price.
Considering establishing a position in the newly emerging global blockchain industry, Selendra early development team members set aside all motivations for short-term gain to focus on long-term organic growth and stability.
Our hope is for all developers, investors, holders and users of Selendra to have a long-term outlook toward contributing lasting value to the global blockchain community rather than focusing on the short-term gain at the expense of others.
7. How do I trade Selendra (SEL) for other crypto assets such as BTC or USDT?
Initially, Selendra (SEL) can be traded for other crypto assets such as BTC and USDT on PancakeSwap, a decentralized exchange.
Toward the end of 2021 and early 2022, Selendra (SEL) will become included for trading on major crypto-asset exchange networks such as Binance.
By mid-2022, Selendra will release its own decentralized trade system within the Selendra’s Bitriel Wallet, simplifying the process for devoted Selendra enthusiasts while opening opportunities for Selendra developers.
8. How and where can I spend my Selendra (SEL) crypto assets?
Somehow, eventually, merchants and financial institutions will be encouraged to accept Selendra (SEL). No one really knows how or when this will happen.
9. What is staking?
As an incentive for network growth, Selendra (SEL) crypto-assets can be acquired through “staking.” Staking is a technical term, a process performed by “stakers”, referring to the distributed process of securing and storage of “chains” of digital “blocks” on the network. In a technical sense, this distributed “chain of blocks” refers to the “Selendra Blockchain Network.”
The value-added stakers contribute, micro-rewards or small deposits of newly minted Selendra (SEL) crypto assets are paid to the stakers. Anyone can become a staker, and in this way, receive rewards for reducing risk while adding an underlying value to the network.
10. How can I become a staker?
A staker must first acquire some amount of Selendra (SEL) assets. Staking the SELs via live.selendra.org (after mainnet launched) and through Bitriel wallet. The best and safest way is to join the norminator pools.
11. How can I become a validator?
To become a validator, any node has to stake a minimum of Pi * 10,000 SELs or 31,415 SELs.
12. What is the mainnet?
Mainnet is the term used to describe when a blockchain is fully developed and
deployed, meaning that its transactions are being broadcasted, verified, and recorded on the network.
13. What is the testnet?
Testnet is a development network used for testing future applications and products.
Testnet crypto tokens are separate and distinct from actual SEL tokens and are not intended to have any value.
14. When will the mainnet be launched? How do I know when the mainnet has been launched?
The Selendra mainnet is scheduled to be deployed during Q4 of 2021. The team announcement will be made via its social channels.
15. How do I make a deposit into the mainnet?
Initially, a staker must make a small deposit of SEL crypto-assets into the Selendra Blockchain Network. They can only do this when the mainnet launches.
B. Technical FAQ for Developers ( in progress)
1. Why do you issue Selendra (SEL) on the Binance Smart Chain?
Binance Smart Chain offers lower costs over our next best option of Ethereum. The Binance Exchange has a presence in Cambodia, where we began, and many users worldwide. In addition, Binance is among the most friendly exchanges in Asia.
2. What is the total supply of SEL (tokens?) to be issued?
The total supply is limited to and can never exceed 3,141,592,654 SEL, to be released over decades, similar to Bitcoin. The network should cross around half of its supply around year 6.
3. What is the number of Selendra (SEL) token sales?
12% of the total token issued or 376,991,118 SEL is reserved for token sales.
4. How does SEL (BEP-20) differ from a SEL (native) token?
The SEL BEP-20 is a token issued on Binance Smart Chain to help kick-start
community development through airdrop and token sales. While SEL (native) is a token that will issue on the Selendra mainnet, after the network launches.
The holders of SEL (BEP-20) will have to swap for SEL (native) once the mainned network is launched at the ratio of 1:1.
5. Why SEL BEP-20 token?
The team would like to raise awareness, build community, and incentivize developers to build apps to run on the Selendra network with our testnet so that our team could gain valuable feedback on what best use of time to improve the network. Thus, we decided to issue SEL on a live network. Thus, we have SEL BEP-20 on Binance Smart Chain.
6. When and how will I receive SEL native tokens?
All SEL BEP-20 holders will be notified to swap for SEL native at a ratio of 1:1 when the mainnet launches.
7. How do I swap to SEL native tokens? How do I (swap, trade, or exchange) from (something) to SEL native tokens?
You will be instructed when it is time to swap. For Bitriel wallet users, the process will be more automated, while we hope to integrate the swap on other wallets.
8. When do we get the native token?
We are planning to have the mainnet launch sometime in Q4 of 2021 or Q1 of 2022.
9. What are the release schedules for SEL tokens?
SEL tokens will be released according to the released schedule described earlier in this document. It has long-term, 15 years vesting for teams, 10 years vesting Ecosystem dev fund (foundation to be set up and manage the fund), vesting 6 months to 3 years for investors, and 21 years for mining/staking rewards.
10. What is the circulating supply in the next N years?
Many variables can affect the amount of circulating SEL tokens. Staking release schedule, vesting schedule, locked up. The best we can predict is shown in the token sections in the whitepaper.
11. What is the implied valuation of the network?
Valuing crypto-assets and their network is complicated, and Selendra will be no exception. The most popular method is by calculating the market cap of the circulating supply (i.e. “last price paid per token” x “total circulating supply”). This method is obviously flawed in many accounts: it does not capture the underlying value of the network, the volatility and fluctuation of these assets, the significant security risks associated with these networks and assets, nor the value of the technology improvements over time. Please do not use this or any other method to value the Selendra SEL token or any potential investment without fully understanding how a given measure works, what it captures or fails to capture, and how other models work.
That said, taking a release schedule into account, and assuming investors choose medium vesting. A scale of SEL token at around 1000 riel or 0.25 USD could mean a market cap between $0 — $200MM in the first one-two years after mainnet launched, with circulating supply between 0 SEL to 820MM SEL.
12. How does vesting work?
Token subject to vesting has a usage restriction. They cannot be sold, transferred, spent, or otherwise made use of on the Selendra blockchain. The vesting token will be locked in a smart contract or directly in the blockchain blocks. The rate at which restriction is lifted would depend on the vesting periods predetermined as stated above allocation.
Selendra SEL will be added to the liquidity pool for a token swap on PancakeSwap, BitrielSwap, and as well as on exchanges. Hopefully, we will be listed on Binance by the time we launch the mainnet.
Out of the 12% of total tokens for investors, there will be up to 3% for private sale to Selendra advisors. 9% will be for public sale via IEO and/or Tokens swap.