Dear Grain enthusiast,
We’ve decided to drop the project’s hardcap from 40.000 ETH to 20.000 ETH.
Why?
First, one of the main concerns we often receive from potential investors that are excited about Grain is that our hard cap is too high for the current market that is ruled by uncertainty.
We’ve deliberately set a high hard cap as an “ultimate dream scenario” where we would have all the funds we need to reach our market potential in the fastest way possible. So instead of letting this ambitious goal scare potential contributors, a lower hard cap would help us convince those Grain enthusiast that are in doubt to come on board with us.
Secondly, by reaching our softcap, we’ve already collected the minimum amount of funds needed to build a sustainable company. And with a new major partnership — that will be announced in the upcoming days — the project has far more financial security and can rely less on the public token sale to generate the necessary means to build a healthy company.
At the same time, we’re adjusting the value of a GRAIN token by increasing the amount of tokens per ETH. The new price is 0.0000185 ETH, which results in 54.000 GRAIN for each ETH contributed (instead of the original 27.000 GRAIN tokens). With this increase, we’re able to keep the token supply stable and prevent a potential future shortage of GRAIN tokens.
What it means for contributors
The new value of a GRAIN token is not just applicable from this day forward. It also applies to every contribution made by early investors, presale participants and current ICO contributors. So in the upcoming days, they’ll receive double the amount of GRAIN tokens.
The Grain token sale dashboard will be updated to show the correct amount of tokens, and the additional GRAIN tokens will be distributed to the participants’ wallets.
The token burn mechanism explained
The total supply of tokens that we’ve made available for the presale, private sale and ICO participants is 1.080.000.000 GRAIN tokens. That supply represents 30% of the total amount of tokens.
If there are unsold tokens left at the end of the public token sale, all remaining tokens will be burned.
To commit to the original token distribution and safeguard the predefined 30% share of publicly owned tokens, we’ll also proportionally burn tokens allocated to the other groups and reserves (team, liquidity insurance/escrow fund, advisors, etc.).
An example scenario: if 75% of all public tokens are sold, only 75% of the total supply of GRAIN tokens will be kept in existence. 25% of all tokens will get burned. This will bring the total amount of GRAIN tokens in the ecosystem to 2.700.000.000. (75% of 3.600.000.000 original tokens)
SUMMARY
- New hard cap = 20.000 ETH
- New value of a GRAIN token: 1 ETH = 54.000 GRAIN tokens
- All participants of the presale, private sale and ICO will automatically get double the amount of GRAIN tokens they were promised originally.
- All unsold tokens will be burned
- In case of a token burn, tokens allocated to the other groups and reserves will also be burned proportionally
- If 75% of the tokens for public sale are sold, only 75% of ALL GRAIN tokens will be kept in existence
Visit our token sale details page:
