Eximchain Token Generation Event Update
Dear EximChain supporters:
We are very excited to have you with us on this journey. In the past few weeks, we’ve been absolutely overwhelmed by the enthusiasm from the community — our TGE was significantly oversubscribed, our telegram group has over 13,000 members and we had to close our whitelist subscription one and half months ahead of schedule!
Every decision Eximchain makes is in the interest of the supply chain industry and network participants, as we truly see a promising future ahead of us. We do however understand that certain decisions will not satisfy the expectations of those that think in the short term. In order to build the Supply Chain of the future we need to prioritize getting our tokens and governance mechanism into the hands of supply chain stakeholders.
In the last month alone by reviewing your whitelist applications, we have received interest from over 400 different companies in the supply chain space ranging from SMEs to large firms in logistics, finance and sourcing. Thousands of whitelist participants noted their interest in participating in consensus, and dozens of developers are excited to develop on the platform. In addition, almost 10% of the people in our whitelist are current supply chain stakeholders.
Our EXC token is not meant to have secondary market trading potential as it is officially a utility token for supply chain stakeholders to access services and applications built by Eximchain and other network participants. It is intended to decentralize initial EXC holdings toward supply chain stakeholders in the infancy of the network.
Eximchain in no way implies the potential for the tokens to increase in value, nor that you will be able to profit from any increases in value by reselling the tokens on a secondary market, or otherwise profit from the tokens in any regard, since it is not a ‘security’ and/or ‘equity’, but a utility token.
The Blockchain landscape is evolving. Every second. Each week in the blockchain space, a month’s worth of news is released; this creates an ever-evolving global regulatory environment and maturing community that we think will ultimately be healthy for the space as a whole.
Due to an unforeseeable global regulatory environment, over which we have no control, and our transparent approach to protect the early interests of client/partner supply chain stake holders and initial network safety, we will be adjusting our initial TGE strategy to be in accord with our priority of minimizing risk for the longevity of the project and the enterprises looking to leverage our network. As a result, we have decided to cancel the public token sale. We will be hosting an airdrop for 1.5million EXC (with $500k worth of value) open only to whitelist participants that pass KYC.
We believe this to be the most judicious approach to the TGE, rewarding the early community members that have been following our project since last year. Some of you now work alongside our community managers and we see and appreciate when you knowledgeably field questions about the project. Some of the most keen and forward looking questions about Eximchain are buried early in the chat.
Additionally, many members of the whitelist who stated they want to use Eximchain ecosystem within their company, as well as developers, will be contacted in the fall to join our early adopter program and have special consideration in our future PoC pipeline.
If you are looking for more ways to contribute, we’ll soon be announcing our Community Reward Plan including:
- LinkedIn referral program — Add/follow our Eximchain on LinkedIn if you might use the Eximchain ecosystem in your company
- Bug Bounty Program — Look over our code, report vulnerabilities
- Content Program — Without talking about Eximchain token sale, make an informative video or blog post about blockchain technology or supply chain industry. We are open to host video submissions on our youtube channel. All participating must properly attribute sponsorship from Eximchain in the credits of the video. We will release our branding guidelines to all that apply.
It has been a tough decision for us. We thank you once again for your interest in our project, and appreciate your understanding for the business decision. We hope to see you soon as one of the early Eximchain Ecosystem adopters!