We would like to thank everyone who participated in the crowdsale process of TowerBee. For those who are not aware, the crowdsale period was from 24 August 2018 to 22 September 2018. The ICO was on our own exchange TowerX.co
The total amount of TBE tokens sold during crowdsale is 202,512,985 and the amount of ETH collected was 25,314. However, there were some investors who failed to pass the KYC and accordingly, they were not allotted TBE and their ETH was refunded to them.
So how is the performance in terms of target achieved?
The original target was to raise over 32K ETH and the actual amount raised was just over 25K. So effectively, we have reached 78% of hard cap. But the story is not so rosy as it seems. The price of ETH is presently around 25% of what it was when the original plan was laid out for the crowdsale.
In USD terms, the amount raised is just around 23% of the original target. The road ahead is tough but our team is determined to achieve targets even though (understandably) the pace would be much slower.
TowerX.co , our own exchange would also also receive a part of the funding for it’s development and further progress.
Coin burn announcement.
All unsold TBE tokens will be burnt. The amount of tokens that will be burnt is around 52 Million. The coin burn will happen in 2018 only and the exact date of coin burn will be announced later.
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Telegram: https://t.me/towerbee
