Remodeling the Token Sale — Join the Seed Sale
Hi folks,
At the beginning, thanks to all who provide us with positive and constructive feedback. We’ve taken all your feedback quite seriously.
Status Quo: All depends on Token Sale success
From the point we’ve started developing ufoodo till now the ICO market changed a lot. More and more projects are competing, government regulations have shown up and still international regulations are uncertain. We got lots of registrations for the Pre-Sale and a lot of positive feedback. So, we can approve the idea behind ufoodo has a reason for existence.
Because we believe in the ufoodo project and we are willing to do anything to realize this project, we analyze the current situation.
Through a Token Sale we only have the opportunity to raise project funds once. When we just hit our soft cap in Token Sale it will be hard to fence competition on the food delivery market and realize ufoodo’s complex ecosystem the way we planned it.
At the moment we see two major disadvantages: Firstly, we have not enough funds from Private Sales for a strong marketing campaign. Secondly, we do not provide a finished product. So, from a strategic perspective we decide to change our course.
We will split the total token supply into two parts. 20% will be distributed in the seed phase and 80% will be frozen for a future Token Sale. From each part 55% are going to be sold.
We will start the Seed Token Sale on 1st April where only 11% of the future token supply will be sold, instead of performing the Pre-Sale followed by the Token Sale.
The Seed Sale is limited by a hard cap of 3,500 ETH, a soft cap of 200 ETH and includes the already raised funds in Private Sale (about 134 ETH). As planned the ufoodo team will focus on product and business development till Q4 2018. With a stronger team, marketing activities and finished product the official Token Sale (DAICO) for the remaining 44% of total token supply will be executed in Q4 2018.
Turning ufoodo into a long-term investment
Why to participate in Seed Sale:
1. We guarantee to at least double the ufoodo token price in Token Sale according to Ethereum Exchange rate.
2. You ensure that the ufoodo project is independent from equity funds, so that we can develop the project with its community based decentral ideology.
3. Your purchased ufoodo token will also allow you to take part in DAICO polls after Token Sale.
4. After Seed Sale we aim to get the ufoodo Token tradeable with its limited token supply (20% of the planned total token supply).
5. With UFT you get the right to take part in community based development.
Goals till Token Sale
To ensure a successful Token Sale in Q4 2018 we define several goals. Of course, the realization of every goal still depends on Seed Sale success:
1. Open Token Sale for US Investors.
2. UFT listed on exchanges.
3. Finish wallet based ordering and delivery application.
4. Build a strong community around ufoodo’s ecosystem.
5. Open development for community.
6. Prepare digital franchise to start immediately after Token Sale.
7. Form strategic partnerships in crypto cosmos and on the delivery market.
Bounty Campaign
The already started Bounty Campaign will still be performed till end of April. Due to the decrease of the supply in this stage, we decided to increase the percentage reserved for Bounties from 2% to 5%.
We hope you will understand our reasons for the path we have chosen.
Thank you all for your support and for making ufoodo happen.
Best,
The ufoodo Team
