Coinvest Token Sale Results and Next Steps

Our Coinvest token sale ended on April 6th and sold approximately $5.5M worth in COIN out of our maximum cap of $33 million USD. Our token sale generated interest from 1,094 participants. Despite the months of February and March being one of the most difficult time periods for ICO’s to raise funds in the history of the industry, we are proud of our results and our progress to-date.

As a data driven company, we would like to provide the following metrics for reference:

  • 1094 People Participants
  • 109 people made more than one purchase with the most purchasing 13 times
  • Average of 2.19 ETH per person and 1.9 ETH per transaction
  • $661 is the weighted average price of ETH for each transaction
  • 33 investment transactions were reverted due to lack of gas, incorrect GWEI amount, etc.
  • Sold 16.57% of allocated tokens
  • Estimate of 8,701,630 tokens in market circulation

As continually communicated, half of the funds from our raise are used for reserves. Therefore, raising our max cap of $33 million would have netted reserve sizes of $16.5M and a operating budget of $16.5M. Since unsold tokens are moved to Coinvest reserves to collateralize the network, our effective raise of $5.5M now creates a reserve of approximately $30M worth of COIN to provide liquidity to the network. This leaves a token circulation amount of ~8.7M; a number that is relatively low in comparison to many other companies in this space. In fact, by comparison, Coinvest would be in the top 15 for the lowest circulating supply out of the top 100 coins listed on Coin Marketcap today. To compare, view the below or visit Coinmarketcap, click Circulating Supply, and sort in descending order.

Screenshot as of April 13th, 2018

Please note that the Coinvest circulating supply is variable as profits from user trades move from the Coinvest reserve back to the user. Conversely, user losses leave the circulating supply and are taken off the market upon entering the Coinvest reserves.

Therefore, if the price of COIN outperforms the market, user profit and distributions are smaller which also results in a shrinking circulating supply. 😊

Investors received their tokens immediately by our smart contract upon their individual contribution. If you haven’t already, you can check your COIN balance using our investment tool. You can also begin adding COIN to your wallets using the following guide.

As previously mentioned in our announcements, we are performing an update to our current COIN token contract for upgrades that will further the enhance the performance of our protocol. These details including full documentation and a demo can be found here:

Next Steps

COIN V2 will be distributed after our token fork and audit within the following timeline in early May. We are working with exchange partners to support the listing of COIN during that month as well.

  • COIN Token Hard Fork: 4/9 to 4/13
  • COIN V2 Token Security Audit and Fixes: 4/16 to 5/4
  • Token Distribution: Week of 5/7

With the sale officially over, we would like to remind everyone to NEVER send funds to anyone posing as a representative of the Coinvest team. Please report any fraudulent sale attempts to to help protect our community.

We sincerely thank everyone who was able to participate and apologize to those that weren’t able to. We value your support and hope to have you alongside us as we continue the journey to bring cryptocurrencies to the masses. We’ll continue to work hard on your behalf and bring to market something that we’ll all be very proud to be a part of.

Welcome to the Coinvest family!

For more information, please visit our website. Should you have any questions, please reach out to us on our Discord.