Hard Cap Adjusted & ICO Date Moved For Adbank Token Sale (ADB)

UPDATE (Jan 10, 2017): Our hard cap has been adjusted again to 10,000 ETH to account for another massive run in ETH. 1 ETH is now equal to 30,000 ADB. This will be the final adjustment before end of ICO.

Adbank is officially announcing to reduce its hard cap from 71,500 ETH to 50,000 ETH to compensate for the recent Ethereum rally. In order to give us time to manage this change we have pushed our crowd sale to start on Dec 14 at 12pm EST and end Jan 21 at 12pm EST.

You asked. We listened.

When Adbank first decided its hard cap for the upcoming ICO, the equivalent amount in US dollars was $21,450,000. With the price of ETH nearing $500, that would mean our hard cap would have raised over 60%.

We recognize that this is absolutely bananas and way over capitalized.

Reducing the hard cap to only 50,000 ETH brings the total amount raised back in line with the needs of the Adbank business plan. Switching is far better for token holders than sticking with the original plan because it doesn’t overprice the ADB token out of the gate.

This move to reduce our hard cap will likely result in less ETH being raised but we know this is in the best interest of all token holders long term.

What This Means

• 1 ETH = 7500 ADB Tokens (up from 5000 ADB)
• The ICO will now begin on December 14, 2017 and end on January 21, 2018 at 12PM EST.
• Delaying the crowd sale is necessary for us to manage this change on short notice as all smart contracts for the ICO will need to be updated and audited again.

Feel free to get in touch with us anytime on Telegram or via email if you have any questions.