Funds raised and Soft cap in USD

Changing the reporting

It has been a wild ride for crypto currencies — with ETH going from almost $1800 on some exchanges to as low as $900, and now seems to be back up to around $1100 as of today.

We wrote our Whitepaper in October and had put our Soft cap — 20,000 ETH — when the price was about $250 — $300/USD. Which essentially meant that we were looking at around $5,000,000.

Soft Cap: $5,000,000; Hard cap: $35,000,000

Now, with the price of ETH shooting up, that 20,000 ETH is $20,000,000! And that is not our softcap.

We also looked at some of the other ICOs active right now, and saw that a lot of them quote their soft cap and raises in USD terms, which in the context of the ETH price movements, makes a lot of sense.

So, we have decided to quote all our raises and soft cap in USD terms. We will be using OKEx (https://www.okcoin.com) as the source of the pricing. And everyday, at 11am SGT the fund raised will be updated, using the ETH/USD price on OKEx at that point in time.

The funds raised peaked at around $1,500,000 about a week back, to today at $1,100,000! Such is the nature of the market, and we will update this daily.