Hello AERGO community,
To begin, we would like to thank you all for your outstanding support over the past few months. We’ve received significant interest in our upcoming token generation event (TGE), from loyal individual supporters to large strategic-value-adding organizations.
Moreover, we’ve received substantial support from existing clients and integration partners of our strategic technology partner, Blocko. Many enterprises that plan to help grow the AERGO ecosystem and build the future of the decentralized economy have shown interest in our cause. We understand that things have been quiet over the past few months. This post will outline the information you all have been waiting for.
AERGO envisions a world where radically reshaped trust dynamics create new socioeconomic networks and digitally transform existing ones. Since 2014, we’ve had a first-hand look at how powerful even minimally distributed systems — those based on permissioned blockchain setups — truly are.
We envision a world where radically reshaped trust dynamics create new, open socioeconomic networks; and digitally transform existing ones.
Most of the team behind AERGO comes from Blocko, South Korea’s largest blockchain infrastructure provider. Blocko has developed tailor-made permissioned blockchain products for large enterprises such as Samsung, Hyundai, Kia Motors; and some of South Korea’s largest financial services companies such as Shinhan Bank and Lotte Card.
We now propose AERGO — a fourth generation blockchain platform taking:
- the best of serverless cloud computing,
- the best of open-source,
- the best of permissioned and permissionless blockchain networks,
- the best of trustless environments
…and supercharging them with a team that perhaps has the greatest blockchain and open-source enterprise IT know-how in the world.
We’re looking to take it to the next level, by first understanding the needs of enterprise customers and their associated IT technology partners. We believe that the transformation begins by first understanding enterprise needs, tackling their obstacles, and guiding them forward. Once businesses start to shift their architecture and create new business models around this technology, decentralized economies will form, and the age of the internet of value will truly begin.
As such, one of the major tasks we undertook over the past months was to connect with many global customers around the world. We briefed them extensively on what we’re planning on building.
The endorsement of AERGO’s vision was amazing. The feedback we’ve received is also now very clear.
What these companies would like to see happen next is the following:
- That the technology is created, the software is put out, and that it gets adopted by many developers across the world. This includes open-source enterprise IT and cloud developers, dApp developers, as well as advanced research labs.
- They would like to understand better how the AERGO Platform could help them to build these new future business models and decentralized economies.
- They would like to see a new class of enterprise-focused applications and modeled use-cases so that the implied benefits to them are proven.
- They would like to see how impactful these distributed networks can become.
This last point is the one to pay attention to. It’s the reason behind our upcoming public token distribution event.
Private Token Sale Summary
The AERGO project is a serious project — created by not only one the most capable teams of blockchain and open-source developers — but it now also has serious long-term strategic backers behind it. We will always be truthful to our cause — our customers — and our stakeholders.
This includes our community of over 30,000 members. To this effect, and to remain transparent, we would like to provide a summary of the private token sale for the AERGO TGE.
We set ourselves a target of selling AERGO Tokens at a price of US$0.20 with a hard cap of US$30,000,000 USD. In our private token sale, we sold 144,151,452 AERGO tokens and raised US$28,832,654. Tokens will be released over a twelve month period, starting at the upcoming token generation event. (Update 11/18/2018: We raised $30,000,000)
We met all our private sale funding objectives. We are both honored and grateful for the trust shown by our backers in AERGO, our technology, and our team. Despite closing our funding round in early August, we have received over 550 screened additional inbound requests to help us and to back our project directly. The private token sale was oversubscribed by a factor of over twenty times.
Investing in our stakeholders
As stated earlier, our future customers and their key technology providers have made it very clear what they want from us. To this effect, we are planning to announce a number of initiatives in the coming months to directly invest in the various communities that underpin all our key stakeholder groups:
- General community and future end application users (supporters and enthusiasts)
- Geographic enablers (regional business partners)
- Open-source developer community (developers)
- Technology providers (blockchain hosts and cloud/telco providers)
- Platform users (dApp providers, Blocko’ customers, and partners)
We will announce details about each such initiative shortly. In the meantime, we will focus on our most important and most immediate campaigns for our general community and our geographic enablers.
Public Token Distribution Event
Most public token distribution events work as crowdsales. We’ve considered the idea of selling AERGO utility tokens to our general community in this way, though we feel doing this is perhaps not the best way forward for our project.
If our community is an essential component to what we’re trying to achieve here, why would we not simply directly invest in this community ourselves?
Yes, we’re going to invest in you.
To distribute network tokens to those that will end up using the platform, all tokens allocated to our public token distribution event will be rewarded to our most value-adding supporters.
We’re rewarding over US$3,000,000 worth of tokens to our community, with careful consideration on who we grant tokens to to make this event as impactful to our ecosystem as possible. The tokens we distribute will act as rewards for value-adding tasks completed in building the long-term vision of AERGO. This public token distribution event will cater to our most supportive individuals and potential regional partners.
We plan to allow a significant portion of our community to participate in this program. The rewards are not only impactful — they are potentially huge — with up to US$50,000 worth of AERGO token rewards being made available to the highest contributing members of the community
This is not proof of shill. This is not for people operating bots; this is not for people who don’t care about the long-term future of AERGO. Instead, this is for those that understand what we are aiming to achieve and want to help.
- A general public incentive program to reward our most supportive community contributors.
- An ecosystem incubation program to attract at least 50 regional business partners — enablers — from around the world.
Very shortly, we’re going to announce more regarding the following:
- KYC/AML details
- Regional participation exemptions
- Detailed terms and conditions for the RewardDrop campaign
- Details on the programs
This RewardDrop pre-announcement is subject to terms and conditions outlined here.
Moving forward, we’re going to announce specific plans regarding the AERGO community plan. This includes similar community investment plans into our open-source community, our technology providers, and our platform users. Expect more messaging from us on what AERGO truly is — which we will incorporate in our public token distribution event screening process.
We’re keeping our long-term vision in mind in every single step we take. We feel that to achieve our vision of reshaping the digital economy, this is the right thing to do.
If you’re reading this post, you’re invited to join us on our journey to create the most powerful open network in existence.
Be sure to join us on our social media channels to stay updated:
We recommend being in these channels and understanding the project to the best of your ability before the event kicks off, to ensure eligibility.
Keep watching this space, and expect more announcements very shortly.
— Team AERGO
This post is available in Korean here.