Dear CryptoCurve Community:
We want to provide an update following the end of the CryptoCurve public token sale on last week on 30 November.
When we announced the public sale date earlier this year, we knew the risks of holding a public token sale in these turbulent market conditions. Rather than continue to delay the sale indefinitely, we chose to forge ahead and hold firm to our date out of consideration to our community.
Unfortunately the downward trend of the market continued, and our public sale did not go as hoped; we did not reach our soft cap target for the sale. As a result, we will be making refunds available to all of the investors who participated in the public token sale.
The refunds will be handled by smart contract, directly within the Curve Wallet, using your account, and will be available to public sale investors for 30 days. The refund is optional, so investors who wish to keep their CURV tokens do not have to participate in the refund. More information on the specifics of the refund will be made available soon.
Following the 30 day refund period, we will proceed with a hybrid model of burning and staking the remaining CURV tokens even though we didn’t reach the soft cap. 75% of the remaining tokens will be burned (22.3 million*), and the remaining 25% (7.5 million*) will be incorporated into the Curve Wallet staking feature as token rewards for investors. These rewards will be available to both public and private sale investors who elect to stake their CURV tokens once that feature goes live in the Curve Wallet later this year. You can read more about the staking feature here.
The public sale was not a success, but we remain firmly committed to developing secure, simple, and valuable applications for blockchain software technology. We recently released a beta version of the Curve Wallet, which features native integrations with the Wanchain, Aion, and Ethereum blockchains, and additional products and product updates are in the pipeline.
As always, we would like to sincerely thank our community members for their support over the past several months. We look forward to bringing you exciting new product updates in 2019.
The CryptoCurve Team
*Final numbers may change slightly depending on amount of CURV tokens refunded
