WeSend Update

A brief note to our community as we enter the new year.

Dear WeSend Community,

We wish to share some important updates with you regarding the SDT token that will shape the WeSend ecosystem and its functionality going forward.

SDT Pre-sale close

The SDT Pre-sale will permanently close on December 30, 2018 at 00:00 EST (New York).

Postponement of the one-year token distribution

The one-year public distribution of the SDT token will remain on hold until further notice and may be cancelled. We do not rule out opening a one-year distribution in better conditions, including increased liquidity, maturity, and greater adoption of the global crypto market.

SDT to SDT+ conversions

The WeSend.co pop-up window that allows users to convert SDT to SDT+ will be permanently removed from the site moving forward.

SDT tokens will be accommodated in the Ethereum network; SDT+ will operate in a private WeSend network with no transaction costs and with confirmation times of less than 3 seconds.

SDT+ is the official WeSend.co token and to withdraw them from the platform it was necessary to convert them to SDT.

Launch of the WeSend Dollar

The WeSend Dollar (WSD) is a to-be-created token backed by fiduciary collateral and with 1:1 parity to the USD. WSD is designed for the thousands of WeSend users who look to hold and protect value from volatility.

WeSend has had strong acceptance amongst migrants who look to a stable digital asset to protect their savings as well as to access goods and services.

The WSD will become the official token in the WeSend ecosystem. It will be purchased and sold with multiple currencies and local payment methods through the WeSend agent network and will be sent between WeSend applications without transaction costs.

The future of the SDT token

Original plans for the semi-stable SDT token have been interrupted by dizzying drops in crypto market prices and overall liquidity losses in the ecosystem.

With the launch of the WSD, the official token in the WeSend ecosystem, SDT tokens will be used exclusively to claim access to a buyback pool that will be available for all *SDT holders, where SDT can be used to obtain WSD and eventually, redeemed for other crypto or fiduciary currencies.

The buyback pool will be created with a percentage of the earnings from WeSend transaction fees. The creation date of the buyback pool will be announced once WeSend reaches its break-even point.

*SDT token holders includes private investors, WeSend team, and partners.

We wish you a very healthy, happy new year and thank you for your continued support.

The WeSend Team