iCumulate Main Token Sale Cancelled
The iCumulate team, who are building a multi-functional social investment and trading platform, have today announced that the project will not go ahead with the planned main token sale.
This decision came after the project was unable to reach its soft cap during the Presale phase. The main token sale was due to run from 10th–31st December 2018.
Reaching fundraising targets have become an enormous challenge for token sales due to the current market sentiment, scams and mainstream negative press perceptions of the crypto currency markets in general, all of which directly influences investment.
Angelos Diamantis, iCumulate’s Co-Founder, said “The team have worked extremely hard for the last 14 months to get the project to the stage of a serious fundraising whereby everybody could get involved. We could have attempted the fundraising earlier, when the window of opportunity was much wider, but we are firm believers in that to do something well, you have to do it properly.
Unfortunately, even the strongest projects are up against the odds with so much negativity surrounding the current market climate. In light of recent events we have decided to cancel the main token sale, but our vision for iCumulate has not changed. We will continue to work on the project as we believe the benefits of the ecosystem to be industry changing.”
All investors who purchased ICU tokens in the Presale event will be refunded and the team will continue to update the community on the development of the project as it moves forwards.
The team would like to take the opportunity to thank everybody for their kind words and support surrounding the project to date.