Swachhcoin: Official Announcement
Hello Community
Hope you are well.
We are well aware of your eagerness to know about what is happening next at Swachhcoin and have decided to address all of your queries at once. Also, we will be addressing the unprecedented market condition currently prevailing that has created major unrest in the global crypto market. So just hold back while we address all your concerns and feed you with the latest project related updates and give you a sneak peek of major events ahead.
Through this announcement, we will go through a brief update regarding our recently concluded Token Sale, Token Distribution, Listing of Swachh Tokens on Exchanges along with Development Updates and Major Upcoming Events.
Token Sale Update:
Today, after the end of our token sale, we can firmly state that our team has never been more proud of ourselves and our community that we are today for achieving the impossible feat in the worse ever market condition.
We concluded our token sale on the 10th of November. The entire duration of our token sale has been poised with a series of downfalls in the global crypto market due to the variety of factors. On the bottom line, the entire period of our token sale has proved to be extremely non-conducive, especially for ICO’s to the point where projects have failed to raise any funds. However, overcoming all the odds through sheer hard work and creative intelligence, we have been able to raise funds over and above MRC (Minimum Requisite Capital). Also, since we have not reached our MSL (Maximum Sale Limit), we will be looking to raise additional funds in exchange for Equity and Tokens from our Reserves.
The total funds raised in our token sale has been less than what we expected initially (we initially projected that we would reach our hardtop by the end of our ICO), due to the statistics from our whitelisting campaigns. We believe the sole factor for this to be the series of downfall in the global market leading few investors pulling out of their commitments in light of the market uncertainty.
Keeping in mind heavily hammered value of assets at our disposal we shall reorganize and revise our foregoing strategy.
Nonetheless, this process shall not require a period of more than 15 days and we are more than confident of being able to achieve our project milestones just as planned.
Token Listing
In the past few weeks, the global cryptocurrency market witnessed a virtual freefall, however, according to the latest opinion from the leading industry experts, there is a strong voice that we may have already hit the bottom of the market and are on our way to a steady ladder climb. Although some experts believe that they will need an additional factor indicating the same in order to firmly establish this belief.
As per the research conducted by our internal market analysis team, the study conducted of historical data of over 100 well known ICO’s held over the past 24 months confirmed a result that ICO listed in the Bull market tend to have a significant positive impact on short-term trading as compared to the ICO listed on exchange in the Bear Market where the overall unrest results in temporary market pullback.
Hence, In the common interest of our investors, we have decided to Postpone our Listing by a little over a month’s period.
We believe in laying a strong foundation of our organization, of which, Swachh Token is a major asset.
“BETTER LATE THAN NEVER”
Our team has agreed upon settling the listing date to a later part in January. The beginning of a new year along with the new phase of our project.
Token Distribution
We initiated the process of Token distribution to ICO contributors from 23rd November and the process is not finalized with all the investors with no concerns with entries have been sent the tokens to their respective given wallets.
The Token distribution to Bounty Phase 1 participants along with Bounty Phase 2 (hosted on Bountyhive platform) will be done by last week of December. The distribution of tokens to contributors from Latoken Platform will be done by the end of this month too.
The distributed tokens will be paused until few hours before the listing to prevent Token resale from unauthorized sources. Hence the distributed tokens cannot be moved from the wallet they have been transferred to initially until they have been unpaused.
Invite Only Referral Sale
In order to offset the loss of monetary value in asset liquidation to cover current expenses, we shall conduct an invite-only referral sale until the listing of Swachh Tokens. Here a small portion of tokens from our reserves will be sold to contributors in our network. More details will follow in the coming article in a few days from now. Keep a check at our social media handles.
Upcoming Events:
Some of the major events scheduled ahead are:
- Swachh Token Listing on Major Exchange
- Global Blockchain Conference to be held in the Month of April.
- Inaugurating 6 New Swachh Centres throughout the first quarter of 2019.
- The release of Protocol Governing Swachh Jurisdiction in the Month of January.
We have another detailed follow-up announcement coming up containing details of events and important dates ahead.
Also, don’t forget the application for becoming Swachhcoin Global Ambassador will be available from 4th December where first come first serve policy will be adopted. A separate detailed announcement will be made regarding this shortly..
If you have any queries or concern, feel free to drop a mail on info@swachhcoin.com. You can also refer to short FAQ given below.
We look forward to your continued support.
Best wishes
Team Swachhcoin
FAQ:
A). What leads to the crash?
Answer: The most common reason for the downfall of the market has been majorly due to the combination of the following event:
- Market correction following a massive boom in the late 2017 and early 2018.
- BCH hard fork war amongst the two clan BCHABC AND BCHSV
- Bad press
- Regulatory hurdles
B). Can there be a further delay in the listing?
Answer: We are well aware that the contributors of ICO prefer liquidity of their investment. But more than that they like to see their investment portfolio grow over time.
The decision to delay the listing was undertaken by weighing the priority of both these factor
Thus by end of January, we will avoid any further delay in listing at all cost. In case the market continues to bleed profusely, we shall roll out the refund to our contributors since further downfall will also imply considerable setback in the development of the project with the funds at disposal.
Meanwhile, we shall also work towards bringing more globally dominant exchanges on board. The names will be announced as and when all the formalities with each exchange are finalized.
Also, we have a number of exciting technical updates regarding our team expansion and roll out of the Pilot program in 3 Different Swachh Jurisdictions.
Join our Community here:
