Crowdholding — moving forward
In short: We’re reducing our goal to $1 million, burning unsold tokens, and extending the sale.
Since the YUP token crowdsale began, we’ve sold over 2 million YUP tokens with a value surpassing over $300,000. We are truly thankful to all our dedicated supporters who gave us valuable feedback, incredible reviews and enthusiasm about the Crowdholding project. Amongst all the positive responses, the Crowdholding community has raised several concerns over the last couple of weeks so we’ve taken some time to examine and reflect on the platform and project as a whole. In doing so, we’ve recognized that there is nothing more valuable to the Crowdholding platform than a healthy, informed, and happy community.
November has had the lowest ICO investment volume since March 2017 (Source), caused by a variety of factors and therefore we decided to extend our ICO and lower our goal. The original goal was based on industry research, advisor’s recommendations and the budget required to build a global C2B platform, but due to the turbulent nature of the cryptocurrency scene, the estimations proved to be unrealistic for the current ICO environment. Thus, we have decided to focus our efforts, start locally and lower our goal to $1 million. We believe that these changes achievable and allow us to prosper.
In the meantime, we will finish our product and grow to 10,000 users to increase our already amazing community. We will now focus on attracting at least 300 businesses to purchase YUP tokens and use Crowdholding as a co-creation and community building platform.
- We want to maintain our vision: Enable co-creation between businesses and the crowd, rewarding the crowd with a share of revenue
- In order to open up Crowdholding to more people, we have decided to facilitate distribution of other tokens (ERC20 compatible) as rewards through our platform alongside our own YUP token.
- We need to earn revenue to sustain and grow at this period of time, and because that revenue is from business buying YUP tokens it supports YUP value growth.
Businesses can purchase YUP tokens through our ongoing ICO with a minimum of $100 to start and can use those YUP tokens to reward people for completing bounty campaigns. All tasks have a minimum of 50 YUP tokens attached as part of the reward.
For example, a business places 1000 PINT token(fictional token) and 50 YUP tokens as a reward for a task.
Future of the YUP token
- To be launched on exchanges after our goal of $1million USD is reached.
- At the end of the sale, all unsold supply will be burned.
- Purchased by businesses and distributed as reward for completing tasks.
- Invested in businesses on crowdholding via ICO.
- Used to buy products/services sold on crowdholding and other stores in the future.
We want to encourage YUP token holders to be people who are invested in the community in the long run, rather than only appealing to people who are speculating on crypto.
Confirming the roadmap
- By July 2018, YUP tokens will be the primary reward on Crowdholding as well as the only investment resource used to purchase future revenue shares.
- By December 2018, our Crowdholding marketplace will be established and users can purchase products/services with YUP tokens.
We want to thank all our adopters for their support and belief in our platform. It’s been a blast so far, and we have great things to accomplish. Let’s create something amazing together.
Ethan Clime — CEO of Crowdholding