МЕТТА cuts down on the expenditure
Dear friends, as you might have noticed, we have recounted our financial model. We significantly reduced the volume of the attracted investments from $ 15 million to $ 4.5 million and changed the number of issued tokens from 300 million to 85.3 million. We made this decision for the following reasons:
1. We have considered the opinion of the community and switched to a more conservative model. META concentrates on the entry point — car service industry. This will allow us to significantly cut on the costs for marketing and product promotion, as well as reduce the requirements for the employees number.
2. The conservative financial model is less subject to risks of uncertainty. We can build a more accurate forecast for cash flows, income and expenses and n financial result.
3. The new model will allow us to improve the process of developing and implementing our application. We can test it on one particular segment without having to unreasonably distributing resources to launch new modules and markets in the shortest possible time. As the entry points we have chosen two most capacious markets in Russia — Moscow and St. Petersburg. In this way, we will concentrate our efforts on achieving the main goal, which is to create a quality product.
Does this mean that META will cover only the car-care services ?
META will develop further. We do not plan to stop and will enter segments in parallel with the development of the platform. It will take more time, but we will be sure of the quality of our work.
What are the new terms and conditions of pre ICO and ICO?
We keep to the stated terms of the campaign.
Pre ICO period 20 November 2017–19 December 2017
ICO period 1 January 2018–1 February 2018
Reducing the required amount of investment means the need to decrease the volume of tokens issue. We made this decision to preserve the nominal price and pre ICO conditions at the same level.
Total investment $ 4 548 000.
Total issue volume 85 264 858 tokens.
Tokens for sale (70%) 59 685 400 tokens.
Founders’ share (30%) 25 579 457 tokens.
Token face price, ETH 0,00027.
Taking into account the fact that there is very little time before the start of preliminary sales, we have done our best to keep to the previously announced conditions of pre-sale.
The total number of tokens for sale, the face price, the system of discounts and bonuses will remain unchanged.
Pre ICO volume (10,4% of the total issue) 8 895 539 tokens.
Amount to be attracted $402 490.
Discount scheme to the nominal price during the pre ICO period:
First week 45% of the face price
Second week 40% of the face price
Third week 35% of the face price
Fourth week 30% of the face price
Starting with the third week of the pre ICO period the referral program will operate under which each participant will get 15 % bonus of the METTA tokens purchase sum, made by his/her recommendation. This program is already implemented into the pre ICO smart contract.
The main campaign starts 1 January 2018 and finishes 1February 2018. During this period 50 789 861 tokens will be sold and $ 4 154 510 will be raised.
After the campaign is completed the tokens will be placed on the exchange for free sale. Now we are looking for suitable sites and we are planning to agree on the placement before ICO starts.
We have already written about the factors which make METTA tokens valuable for the market.
Thus, we expect a moderate volatility of the price after entering the exchange and a stable upward trend in the future.
You will find more information on our site https://metta-ico.com/. You can also ask questions directly in our topic groups.
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