This will be the first in a series of Medium posts that we will be making up until the beginning of our token sale. We have two important announcements to make and we hope the community will be happy to hear them and our reasoning.
In our case, we have an existing business reaching out to 50m users daily through our distribution channels and we knew we had to build on top of that to provide the maximum possible leverage to our backers and future users.
We also decided to that we would have a full transparency policy running up to the ICO.
In that regard we would like to announce the following;
1.- We have postponed our ICO until 24th August. We have a number of reasons for taking this step at this time :
a) We want to do further clarification with our legal team in Singapore. Although we have done our due diligence, we have reached out to MAS and would like to do yet one more iteration over all details.
b) We want to do further testing of our Smart Contract which. Again, although the audit has been done and the end result is very satisfactory (https://blog.zeppelin.solutions/hubii-token-audit-227c0adf50ea), we think you can never take security seriously enough.
c) The last 72 hours we have received immense support from key people within the industry and consequently we want to make sure we accommodate this engagement.
2.- Cap was due to be a hidden max cap. However, we are going to announce this cap publicly now due to community requests. The maximum, fixed cap is $50m (according the the ETH price when set before the sale opening).
Initially we though that a hidden cap was the best way to run our ICO. After a few weeks of constant interactions with the community and numerous conversations with our advisers and possible future partners, we decided to make this change now. Our minimum still remains on $5m.
