AssetChain — Post Token Sale Wrap-Up Announcement
First of all, the Acudeen team would like to acknowledge our contributors, our followers and the strong community support for being with us throughout this amazing journey. We are more than fueled and ready to execute our vision to provide liquidity to every micro, small and medium sized business through the AssetChain platform — one step closer to Global Financial Inclusion.
We are grateful for the belief that you instilled in Acudeen as a company. We couldn’t have done it without you and we’re more than happy to share some exciting news for everyone at this stage!
Let’s jump straight to the point..
Yep, that’s right. We are proud to announce that ALL of our ACU Tokens allocated for public consumption have been sold. Technically speaking, we haven’t realized the full $35,000,000 amount yet as some of the deals are structured in a such a way that we will be funded in tranches, but again, what’s important for you to know is that we have sold all tokens.
As of the moment, our team is now analyzing the data and double checking all accounts to make sure that everything is in order, including but not limited to: KYC Data, Stellar Wallets, Execution of SAFT Agreements from Private Investors and a full report with our auditing partner, PWC. Please login to your account on the token sale platform and make sure all information is checked. This guarantees a seamless audit process and transparency with all contributors of the AssetChain/Acudeen Token Sale, both public and private.
As promised, the exact date for the distribution of tokens will be on June 30. We know that this is a little later than promised, so we’ll go into detail in the next part. For the meantime, the Acudeen team promises to remain completely engaged with the community and will be holding frequent AMA (Ask-Me-Anything) sessions for any inquiries that you may have.
If that wasn’t good enough news..
We successfully arrived at an agreement with an influential blockchain and exchange partner who helps us close this sale on a strong note. With that being said, there are special measures put in place to make sure that the project will become a successful endeavour — not just from a platform perspective, but also from a market perspective. As a result of this, we decided to introduce an initial lockup of 12 months for all contributors of the sale, including the Acudeen team.
We understand that this is a change to the original distribution plan, however, we believe that the result far outweighs potential short-term gains. That being said, we do understand that there may be some issues with those who intend to liquidate within a shorter time frame, so our team is offering a fair option for those who purchased tokens during public sale to sell them back at the original purchase price (1 XLM = 29 ACU).
Once you access the Token Sale dashboard, a distribution checklist will let you decide on the amount of ACU you want to sell back and the amount you want to retain for the 12-month lockup. Contributors who were able to purchase ACU Tokens during the 15% and 25% bonus periods will be able to sell their bonus tokens as well.
Why is there a 12-month lockup period?
They say that good things come to those who wait. While we can’t reveal any specific details yet, we can say that there is a good reason for this mandate and a compelling reason for you to retain your purchased tokens.
The ACU Token will officially be listed on an exchange within a month’s time and on a globally recognized and widely used elite-tier exchange within 6–8 months. We aren’t allowed to share specific details yet, but we will be coordinating to make a joint announcement of this exciting development with our partner in the coming days. Stay tuned — we’re sure that you’ll be exhilarated with the news.
Over the coming months, we will be conducting more roadshows worldwide to raise awareness about our game-changing platform and our team will make sure to keep everyone in the loop by publishing detailed announcements about development progress, upcoming events and other relevant news every two weeks.
How do I avail of the buy-back option?
The option to liquidate their contributions (1:1 including the 15/25% Bonus ACU) is limited to:
- Contributors of the Public Sale from May 27, 2018 to June 10, 2018, 5:59 PM (UTC +8).
The process is straightforward on our token sale platform. In the dashboard, simply enter the allocation you want to sell and you will receive the proportionate amount in XLM (Stellar Lumens) during the distribution phase.
Those who acquired ACU Tokens by the following means are NOT qualified:
- Participants of the Acudeen Bounty Program
- Participants of the ACU Referral Program
- Winners of the Acudeen Lottery Program on our Telegram Group
- Winners of the Weekly Points Campaign on our Telegram Group
The deadline for everyone to avail of the said option will be on June 30, 2018. There will be no extensions in consideration for the community. Email reminders will be sent out every now and then to those who have not accomplished this.
How exactly does this work?
While our team firmly believes that ACU is best categorized as a utility token that will drive the new blockchain-based ecosystem on the Acudeen Platform, we do understand that not all contributors will want to utilize it the way we envisioned it to be. Thus, we’ve listed two possible examples in which our new development could affect you and how you can end up in a win-win scenario either way:
Case # 1: Contributors who aim to liquidate and monetize their ACU Tokens on exchanges immediately once listed.
If you obtained ACU for short-term positioning purposes in trading , this will be a tricky spot to be in. You may choose to sell them back at the price you bought them for if this is the case. If you were able to chase the 15% or 25% bonus, then those ACU tokens can be bought back as well and you may be able to profit from that.
Case #2: Contributors who aim to utilize the Tokens for actual consumption on the AssetChain Platform in 2019 as well as contributors who are willing to wait out the 1 year vesting period for better positioning in terms of trading with the exchange listings to be announced.
On the other hand, if your objective is to hold ACU Tokens until the AssetChain Platform is ready in Q3 2019, then this will benefit you in two ways: First is that all existing users of Acudeen will be required to use ACU in order to continue using the platform (meaning that with more usage, volume will naturally go up), and second is that it will be ripe for trading on the top-tier exchanges by that time.
If you decide to retain a certain allocation past the June 30 deadline, you will not be able to sell the ACU tokens until the lockup is lifted. In the meantime, you may still buy and sell ACU tokens via the exchanges as we build market momentum.
Once again, thank you for your support throughout these past months. Together with a strong community, our existing business operations, strong partners, and a solid commitment to get ACU listed on top-tier exchanges, we now have all the necessary ingredients to assure a successful rollout of the AssetChain platform while allowing the ACU token to capture value in the open market.
With this shakeup, this will mean that while the Acudeen team focuses on the development phase of the AssetChain Ecosystem, majority of the tokens will be traded exclusively by our investors for the 12 month lockup phase and thus the option for you to sell back the tokens if you don’t feel confident about holding your ACU for an entire year.
In light of this development, if you trust that our team is competent enough to deliver a fantastic product and an ecosystem for movable assets as detailed extensively on our Whitepaper, then we are more than happy to have you on board this exciting journey with us.
We’re sure this may be initially confusing for you as we’re unable to divulge specific details yet, so we will be hosting multiple AMA sessions within the coming weeks to answer your inquiries.
Our first AMA will be hosted June 10, 2018 at 7:00 PM (UTC +8) via our Telegram Group. We hope to talk to you all by then. Cheers!