We have set out with our token to work towards building the SCIENTIA Trust that will invest in Science and Technology and where the rewards will be reaped by the holders. We hit some obstacles on the way. One very memorable one was that the rebase feature of our token was often misunderstood and led people to abandon the token because they did not understand why the number of tokens in their wallet got less while the price increased. We were very transparent about this feature, and we were also not the first rebase token. But without doubt some people did not understand our communication and felt something unfair happened to them. This was hurting the project and was not in line with our objectives: We want the community to be always in full understanding of what happens. When a feature is too complicated and therefore wrongly understood by many people, it is probably better to get rid of it. After consultations with the community, we stopped the rebase feature some months ago. Of course, we were also affected by the bear market in the crypto space and the subsequent reduction in attention for projects like ours.

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We have already communicated many months ago and continuously since then that we might not be able to pull off the SCIENTIA Trust because we simply have not accumulated enough money in the liquidity pool. The legal fees and related costs alone would be higher than what we have in the pool and even if it were enough, it would be a very inefficient use of our funds. Now we can say that this scenario is reality. The SCIENTIA Trust in the form we originally envisioned cannot happen. We have already started some measures in the meantime to provide alternatives for the SCIENTIA community to benefit from. We have distributed almost 2000 USD to the Paediatric Cancer Research Foundation and we stashed funds that we were not able to put into the Science Funding Call away, so that they mirror the ARK Innovation ETF for the benefit of the community. So, while we did not reach one of our important goals, we think that we already adapted in the past months in the ways described above.

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Many of you will wonder what will now happen to the Scientia Trust Tokens. We have promised from the beginning that you will receive a benefit for holding STT1, STT2 and STT3 and this will of course be the case and our promise will be honoured! In addition, we want to reward all presale holders that are still on board in case they missed the STT1, STT2 or STT3 drops. And finally, we want to recognize that few people got on board the project not understanding the rebase in the beginning despite our explanations and provide an avenue for them to get out without financial damage.

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Altogether, we plan to use funds in 3 ways:

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1. All holders of STT1, STT2 and STT3 will have the chance to sell back their remaining SCIENTIA Token off-market to us for 150% of the USD value they had when they bought them. So, even though our reference crypto, BNB, is down way more than 50% since the all-time high, we want you to get more out of the project than you paid in. As we cannot start the SCIENTIA Trust, you will not have one benefit you were hoping to get. Therefore you, in our view, should be put in a position that is better than the one you were in at the beginning. We owe this to you, who are the core members of the community.

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2. The same applies to all presale holders. They should also get the chance to sell back their remaining SCIENTIA Token off-market to us for 150% of the USD amount they have paid in the presale.

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3. Those people who bought SCIENTIA Token later on a secondary exchange but can honestly explain that they did not understand the project and especially did not understand the rebase should have the chance to sell back their SCIENTIA they still hold as of this date for the original USD amount they have paid plus 3%. We know that we have no obligation to do so, as we were not even the sellers of the SCIENTIA Tokens in this case. But we feel that we want to use available funds to also give people a chance who were for example new to the crypto space to get back what they paid. This reimbursement will be on a discretionary basis, and we will ask for a simple explanation of their case including the reasons why they bought SCIENTIA Token and how they did not understand the rebase at first. We have always warned everybody that SCIENTIA Token is not for speculation — a warning that is still prominently placed on the homepage — so if you bought SCIENTIA Token purely for speculation despite these warnings, you do not fall into this reimbursement category — please be honest in your applications. Of course, all this also applies only to SCIENTIA Token bought until the announcement of the plan on 23 Sept 2022 and not those bought after this date.

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The compensation will be paid out in BNB to a crypto wallet after returning your SCIENTIA Token and STT1, STT2 and STT3 if owned by you and require a simple KYC (know-your-customer, identity verification) check to prevent fraud and money laundering — we are legally obliged to do this.

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We will hold ourselves bound to this offer until the end of 2022. After this, reimbursements can only be made on a discretionary basis, also for presale holders and STT1, STT2 and STT3 holders. But as we have always done in the past, we will do our best to work together with you to achieve a mutually good result. Everybody can choose for themselves if they want to accept the reimbursement. You can of course also decide to keep your SCIENTIA Token.

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After the reimbursement / distribution, we do not plan to abandon the SCIENTIA project, but we will not actively develop it further or do active marketing. It will continue to exist as a cryptocurrency on the blockchain. We will renounce ownership of the SCIENTIA Token smart contract and the tokenomics will stay fixed as described below. From that moment onwards we are no longer in control of SCIENTIA Token. We will use remaining funds earmarked for science funding and mirroring the ARK Innovation ETF for the reimbursements described above and, once they are used up, use our own dev funds. We can use our remaining SCIENTIA Token holdings for this but will make sure that we do not sell more than 3% of all outstanding SCIENTIA Token per month, so that we do not affect the market price of SCIENTIA Token too much.

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Altogether, we believe that this plan is fair for everybody. Those that have been with us for the whole journey can get a reward — 1.5x of what they paid for their tokens in the presale — and everybody has a fair opportunity to get out with a tiny bit more than what they paid as well.

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Now you will ask how to participate in the distribution / reimbursement. We ask you to fill out a form which you can access by clicking on the button just below. The form requires you to to fill in certain KYC information which we need to collect from you for legal reasons and to prevent fraud. Once we have received your information we will get in contact with you with a confirmation of your category of distribution / reimbursement, the amount in BNB you can expect and a wallet address where we ask you to transfer your SCIENTIA Token and, if applicable to your category of reimbursement, your STT1, STT2 and STT3 token. Depending on our assessment of your KYC information we might ask you for further information in selected cases, such as a proof of your identity.

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