Token Distribution Begins, Free Airdrop & Whitepaper Clarification

adbank
adbank
Jan 27, 2018 · 4 min read

I want to personally thank everyone in the amazing community that has gotten behind Adbank.

The community’s support, especially on Telegram, has been incredible and we are excited to share these announcements to demonstrate we will continue to earn the trust you have placed in us.

As you know we’ve been very tight lipped about exchange listings and we are pleased to share exciting progress on that as well (more below).

Token Distribution Begins Monday

The team has been working fast and furiously (we all owe Narcis and Natalie a huge thanks!) to process thousands of KYC registrations and we are now in a position to confirm tokens will begin getting distributed on Monday, January 29th.

The majority of the tokens should be distributed within the first days and we should have everything distributed by January 31st.

Please go here to see how the Adbank token shows up in MyEtherWallet.

Exchange Listings: Announcement Coming

We have been very consistent throughout the ICO of saying, “we cannot comment on exchanges,” and that was due to Canadian and US securities laws. Now that the ICO is over; we can comment that we were approached by the exchange most requested from our community and the perfect first homebase for the Adbank token.

I am thrilled to be able to share this information as I know you put a lot of faith in us and we were forced to provide less than ideal answers to this VERY common question!

Stay tuned for more details and timing (it’s coming soon)!

Whitepaper Clarification Adjustments

We want to continually make decisions that are aligned in the best interest of token holders. For this reason we are making a few adjustments all with the intent of benefiting token holders.

Long Term Incentive Alignment — Reserve Tokens Locked Up

There was some discrepancy between the website, whitepaper and presentation deck around the lockup plan for the 29% reserve tokens. We can confirm that the intention all along and moving forward will remain aligned with token purchasers on the long term vision of Adbank.

This means that the reserve tokens will be locked up for 3 years with 6 month cliffs.

Lower Market Cap Clarification

We are happy to be entering exchanges at a low market cap and always try to make decisions that benefit token holders. Ultimately, due to some efforts from key token holders; our circulating supply market cap will initially be even lower than what we communicated on our website and whitepaper.

The market cap on the website and in the whitepaper was 18,666ETH. There are a few methods of calculating market cap and based on work with advisors/exchanges we are able to reduce the market cap.

With the combination of the run up in ETH and the reduction in the hard cap, our earliest strategic angel investor has a larger position than originally planned. This is good news for token holders as our earliest investors are prolific HODLers and are the driving force of pushing a cryptocurrency that achieved at one point top 10 on coinmarketcap.

The combination of the angel, other bonus rounds, bounty tokens, advisor tokens and the unsold tokens is the reason for some of the questions around market cap. In the end we are very happy to have sold out early, complied with the US and CDN laws and to be an even lower market cap token at the time of distribution.

The exclusion of many countries during ICO has left huge demand for the ADB token on the table. Final numbers and the lower market cap will be revealed later.

Free Tokens — 2 Airdrops Scheduled

Many of the unsold tokens from the ICO will be distributed to ADB token holders via two scheduled Airdrops. More to come on this soon.

  • Airdrop 1: 1 month after distribution
  • Airdrop 2: 7 months after distribution

The Adbank Team is Growing Fast

It’s been a busy few weeks of interviews and we are pleased to say that our team is growing quickly to drastically ramp up tech development and acquisition activities. We’re looking forward to introducing new team members to the ADB community in the next few weeks!

Check Out Alpha Preview!

Get a quick glimpse at our Alpha Preview to see the look and feel of the beta we are working on for Q2 delivery. Unlike most Alphas, this one actually has utility and can deliver ads paid for by ADB tokens!

See Alpha Preview now: https://alphapreview.adbank.network/

Here’s a sneak peak at some of some of the screens were working on for the beta version:

Sincerely,

Jon Gillham

Founder & CEO, Adbank

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