A Historic Token Generation Event (TGE)
The Bancor team is humbled by the astounding support from our community. In what is now a historic Token Generation Event, 10,885 participants contributed 396,720 ETH, equivalent to $153,003,311.63, in less than three hours. To provide everyone the opportunity to invest in Bancor at an early stage, our team developed novel protocols to guarantee access to smaller contributors. Initially, we established a single hour where all transactions sent would be accepted.
We deeply regret that not everyone could participate in the Bancor TGE today. In our efforts to ensure full community participation, even after overwhelming demand and traffic, exacerbated by massive malicious attacks to our network, the Bancor team opted to extend the restriction-free hour in an effort to ensure that pending transactions were completed. When the “hidden cap” was revealed, the flood of transactions that arrived was even more overwhelming. Consequently, after an unprecedented amount of capital had been raised, the Core team conscientiously closed the fundraiser.
To the thousands of contributors to the Bancor protocol: thank you. To those unable to participate, your support is greatly appreciated. You too have our thanks, and our promise to do everything we can to bring you into the growing Bancor Network, which is a people’s project well beyond this initial generation event.