GIF by SOCIFI Token Generation Event Update
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Dear GIF community,
We are excited to share with you a few important adjustments to our GIF offering event. We are convinced these changes will be accepted with enthusiasm, particularly by contributors.
These changes come as a result of an extensive discussion that took place in the entire team along with our experienced advisors and we are confident that implementation of such adjustments is beneficial to everyone involved.
- The TGE (Token Generation Event) will take place on March 26, 2018.
Reasons for such decision are:
A. Strategic Partnerships — Not only have we achieved to acquire new and strong business and development partnerships, but we have also agreed on an improved strategy with our existing partners. We will disclose all the details in the coming weeks as a part of our brand marketing strategy.
B. Registration in Georgia — We have taken time to establish a new subsidiary company in Georgia from which we will operate the TGE. You as an experienced investor are surely aware that Georgia is the new and coming country friendly to the crypto universum.
C. GIF & Compliance Auditing — We have extended our legal and compliance team with international experts that are tirelessly working on our project in order to meet all the legal requirements now being imposed on TGEs.
2. Decreased Hard cap
To better reflect and optimize the GIF token long vision strategy, SOCIFI team, advisors and influencers agreed on adjustments of the GIF Token metrics.
The Hard Cap for SOCIFI TGE is to be 26,127,734 USD.
This cap is fundamentally derived from the budget we intend to use to purchase bulks of mobile data. We are an established company, with a working product and an already existing base of customers. We really want to raise just the funds that we really need for our business to expand and not a penny more.
The difference of approximately 21 million USD is constituted by the amount of money we know we would have needed to purchase mobile data in the USA and Russia (see section 9.3.1 of our White Paper). USA & Russian LTE markets will be penetrated in the next stages, we will pursue a phase approach.
3. GIF tranches & bonuses
Based on solid feedback from the market, we have decided to offer GIF tokens in Crowdsale without bonuses. Due to both the increased demand on GIF tokens (despite the market situation) and optimized Hard Cap we have decided to simplify the GIF-offering process.
- Presale
In order to protect our Crowdsale contributors we had to carefully choose our pre-sale investors and limit the presale cap. Presale hard cap is to be in the amount of 6.4 million USD
Discount in the presale phase is 35% and tokens will be locked for 6 months. We are grateful for the confidence our presale investors expressed by agreeing on lock-up period of 6 months.
2. Crowdsale
Due to decreased Hard Cap and increased demand for GIF tokens we simplified Crowdsale into one stage.
For detailed overview please find the table below
Conclusion
You can expect several new announcements very soon and we are convinced you will like them. Stay tuned, we’ll back with them shortly. Meanwhile, see what Rockaway Capital, our investment partner, says about SOCIFI TGE at https://youtu.be/LftxDnHNic0. More interviews coming soon.
A message from CEO. “First of all, I’m excited to implement the new strategy into SOCIFI TGE (Token Generation Event). Such changes help us to fulfill our mission and be one of the best TGEs. However, furthermore I’m thrilled of positive responses we are getting from you, crypto community. I want to personally thank you for your support and shared vision. Big thanks go to all SOCIFI team members and advisors.”
Sidney Z Hornych, CEO & SOCIFI Team
