The recent drop in the crypto market has not gone unnoticed by EndChain.
EndChain’s team and advisors have been considering the implications of the market conditions on our upcoming ICO. Overall, the conclusion was that we are well prepared to weather the volatility;
· Product: The development of our fusion QR / Barcode has been going well. With the working MVP code scanner, generator, the smart contracts and the patent application submission cleared, we have reached significant milestones. The development team is focused on our long-term vision and is not distracted by the volatility in the markets.
· Partners: The integration of our product into the logistic players that we have partner with is well underway.
· Business Development: We make constant progress, striking new partnerships which we constantly announce on our social media platforms. If anything, the current market positions have helped us to negotiate more favorable deals with exchanges and other potential business partners.
· Investors: We deem our investor base to be strong and supportive, as indicated by the pre sign ups on our token launch platform as well as the active engagement of the community on our social media platforms.
As such, we do not see any imminent action necessary to change our ICO plans. However, we cannot be selfish and want to support the community. After careful consideration we decided it is in the best interest of our investors and other stakeholders if we make the two small adjustments to our ICO:
1) Bounty program: Upfront we want to clarify that there will not be a change in the total amount of coins minted. While we are happy with the progress of the bounty, we have observed that the current market conditions have proven difficult for our bounty hunters to get our word out. After consulting our advisors and successful ICO veterans, we were advised to include a carefully calibrated airdrop in our marketing strategy. To do so, we will re-allocate $300k of coins from other areas into the airdrop. We are currently looking into specialized airdrop managers to support us in the fine tuning of the airdrop.
2) ICO timing: While we are comfortable with the timing of our ICO, which is set to run from Dec 1, 2018 until Jan 15, 2019 — we want to take some of the pressure off our supporters and extend the timing, in order for the market to recover. Therefore, we decided to extend the timing;
2a. Pre-ICO: Our pre-ICO will consist of the 50% bonus round that was originally to be included in the ICO. This was done so that our early backers are rewarded accordingly and can participate as scheduled, at the advertised 50% bonus.
2b. ICO: For other investors who want to sit out the current market conditions we pushed the ICO back a little bit.
In summary, no change to the initial start date, no change to the bonus and round structure, simply a pre-ICO with an extended ICO time.
THE CHANGES WILL BE REFLECTED ON THE WEBSITE AND WHITEPAPER SHORTLY. For questions, please do not hesitate to contact us:
Email- support@EndChain.io
Website- www.endchain.io
Telegram- https://t.me/EndChainIO
Twitter- https://twitter.com/EndChainIO
Facebook- https://www.facebook.com/EndChainIO/