ICO Market Paradigm Shift.
U-Turn from Hype to Product Driven Projects!
Road Map update and revised ICO time table.
Dear MPCX community members,
We highly appreciate your interest in the MPCX Platform development and daily we do our best to be as transparent as possible in all aspects related to the MPCX Platform development road map, ICO time table and other issues related to the community and stakeholders interests.
An important announcement follows, related to MPCX’s revised road map and ICO time table. At MPCX we have identified three major concerns that lead us to revise our road map and ICO time table.
As you may already know, short term crypto market trend is not so favourable to their participants and prices of almost every cryptocurrency has decreased significantly. For example, ETH price decreased from $ 300 to $ 150 over the last 3 months from 20th August to 19th November. It resulted in many losses of crypto market participants and risk appetite has been going down.
At the same time, many valuable crypto tokens are being traded below their fair value in $ terms. However, market participants are not rushing to use the market opportunities due to the significant decline in purchasing power of major cryptocurrencies. For example, in case of MPCX our ICO 1 hard cap is 12 500 ETH based on $ 500 — $ 1 000 per ETH and $ value near $ 9 375 000 using the average price. In this case, study, considering our fundraising goals in $ terms gives us 2 options.
Either increase the Hard Cap or increase the XDMC token price in ETH terms. Both of these options in our understanding are unfair towards the core crypto community.
In addition, according to Securities and Markets Stakeholder Group on Oct 2018 by a range of their success/failure criteria, although they note that “success” refers here only to the ongoing nature of the projects funded, rather than successful delivery of the underlying project objective or product, they found that: 78% of ICO projects are scams, 4% failed, 3% dead, 15% still continued (7% of them successful).
A large number of scams resulted in ICO investors to become more savvy and cautious. That reason is the main trigger which activated paradigm shift from hype-marketing driven projects to product driven ICOs.
Considering all the above mentioned circumstances, MPCX management board decided to further postpone the first public tokensale for 1H 2019.
Yet, this does not mean we pause any development actions within our project, but on the contrary, we will deliver much more than an alpha version of our platform before the start of ICO round 1 (see revised the MPCX Platform road map above).
The first version will include a stable and scalable infrastructure featuring:
We thank you for your continuous support. We look forward to delivering what we have promised to our community.
Visit our website https://mpcx.co or simply join us on our social media channels: Facebook, Twitter, Medium, Instagram, YouTube, Telegram and, LinkedIn.
Stay Tuned!
Your MPCX team!
