dBounce Token Generating Event cancelled for the time being

May 28, 2018 · 2 min read

May 28, 2018. We regret to announce that our Token Generating Event will be cancelled for the time being. We have been silent for the last few days as we have tried to find a solution to remedy this issue, and to go through different scenarios. It is with a heavy heart we’ve come to the conclusion that it is best to take a time-out and press “pause” on our TGE.

Why we need to cancel?
We have encountered personal health issues within our core team, due to which we do not feel that it would be transparent and honest to conduct a token sale. Startups are hard to build, and can take a toll on you. Unfortunately this happened to one of our team members.

What is the current status of things?
We have successfully setup the entity for the project, and have almost completed our ERC20 smart contracts for the token sale. We have also developed relationships with top-tier, experienced advisors (founders of successful blockchain projects, tier 1 funds).

What comes next?
We need to regroup, take a time-out, and strengthen our technical team, to ensure we are capable of building the ambitious vision outlined in our white paper. At this point we are not sure how long it takes to find a suitable, committed and passionate team member (or two) for the project. This means we are not able to specify any strict timeframes for our community.

What happens to existing token purchase commitments?
As we had received commitments from funds, advisors and private contributors, we will not be accepting any contributions for the time being, as we believe it would be dishonest to do so. We are communicating this to all token purchasers.

What happens with my airdropped tokens?
All of the airdropped DB tokens will stay inside your dBounce wallet for the time being. This means that your tokens will NOT BE:

  • transferable to any Ethereum wallet
  • they will not be exchangeable to other tokens
  • they will not be removed from your account

We are planning the next steps, and will notify on our official Medium channel (this one here) on what comes next.

How can you help?
If you feel like helping out, you could take a deep look inside your network for persons who are experienced in building products (dev), and leading blockchain projects. This project needs a passionate and experienced technology expert with passion towards blockchains, AI, and audio. The best candidate should also be extremely entrepreneurial, ideally having built a few startups before. (Yes, the requirements are quite stellar)

If you do find a suitable candidate, please forward him to talk with me on LinkedIn: Anssi Uimonen


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