Pre-sale extended till end January

By Akshay Mehra, CEO, Genie ICO

Hi,

Happy new year, hope 2018 has started well, and I wanted to thank you for your support for our ICO. There have been a few developments, based on which we have decided to extend the pre-sale period till 31st. January, 2018.

Announcement

The Genie ICO pre-sale will now close on 31st. January, 2018, and not on 7th. January, 2018. The pre-sale bonus of 50% will continue till the close of the pre-sale. The 5% referral bonus will be extended till 31st. January, 2018.

Why the change?

There have been a few (potentially positive) developments that we expect in the coming 3 weeks, and we think that it is prudent to get a closure on these before opening up the token sale to the public. These include:

1. Token contract and listing on exchanges. We will be publishing our token contract in the next week. Our supporters will be able to review the contract. Importantly, this sets us up for getting listed on some of the exchanges before the public sale, we are in talks with 4–5 exchanges already and with the token contract, we can hasten the process.
2. Investment on lending platform: Large private investors have shown interest in our core business which could result in Crowd Genie having a bigger share in the market. These investors could come in as lenders and equity holders. Having them onboard would be a significant boost to the business
3. Fiat investors in ICO: Potential Fiat token purchasers in the ICO are coming back from the holidays, and we are working with them closely to help them purchase our tokens. Due to the AML/KYC requirements, this process takes some time, and we expect to finish the process by the end of January.

Bonus continues

The bonus structure of 50% bonus token will be extended till 31st. January.

Referral Bonus till the end of Pre-Sale

We will continue with the 5% referral bonus (http://bit.ly/2CqyVPq) till the 31st. January, 2018, as we want to ensure our supporters have the time to spread the word.

While earlier we were planning to reduce it to 2% after the 5th January, 2018, now we will continue with the 5% referral bonus right till the end of Pre-ICO.

While I know a lot of potential token purchasers have been waiting on the sidelines to purchase with a lower 0.1 ETH amount, in view of the developments, it will be the right thing to do to extend the pre-sale till the end of January. If the opportunities come to fruition as expected, these will make our ICO stronger, and give our pre-sale purchasers greater upside. This extension also allows the purchasers a bit more time to earn the 5% referral bonus especially with people in their network returning from the holidays.