Over the last couple months our team has been working hard to finalize details of TST token sale event. With the help of our advisors we were able to work through many challenges to create a strong foundation for the future Trust Platform. However, as we dug deeper into various aspects of the Token Sale, it became apparent that it will be challenging to complete our vision without some serious sacrifices. Unfortunately, there are no clear laws and many different interpretations for crypto related projects, and there are no legal structures that would allow us to feel completely safe in conducting the event. In addition, introduction of tokens forces us to focus more on a tokenized economy and less on product development — something that made Trust a great product in the first place. Those are the two main reasons that led to our decision to cancel the Token Sale on July 10th.
Going forward, our mission does not change — we want to expand blockchain usage and bring it to the masses. What does change is our focus. Since we are not able to build the fully functioning Trust Platform without using tokens, we will focus on building some of its most critical components — Trust API, Trust SDK — and of course continue to develop Trust Wallet and Trust Browser. As a part of future development we are planning to bring Trust Wallet to a whole new level by improving UI/UX and integrating support for other blockchains— Bitcoin, EOS, NEO and others. Being successful in developing those elements will bring us closer to our mission and keep us competitive as a product offering. As the market and regulatory conditions stabilize, we might revisit the idea of completing Trust Platform.
We would like to thank our partners at Kyber for sticking with us and helping us through this difficult journey. KyberGO platform is going to be a huge success even if we are not the first project on it. We would also like to thank you, our community, for putting your trust in us. We promise to work hard to continue developing a great product that you believe in. For those of you who already registered for the token sale on the platform you have a couple options:
- you can request to be removed from the Kyber database (using this link)
- or you can stick around and wait for a new project to start (there are some really great ones coming up). People who have successfully registered on Kyber are still eligible to participate in future token sales hosted on KyberGO.
We understand that there might be frustration in the community so we will be happy to answer any question that you might have about this announcement. Please feel free to reach us at firstname.lastname@example.org