ICO Update: 1 Month Delay
Our team, both on the legal and development side have been working on the ICO infrastructure and the original token sale date was set for the January 1st, 2019. In order to carry out a successful ICO we must comply with regulation. We have 3 legal structures to help us carry out our longterm goals.
- C.Z. Web Services (Business and daily operations)
- C.Z. Block Tech Foundation (ICO, token & distribution)
- LABFin, (in process) — Latin American Blockchain and Fintech foundation, Panama(non-profit activities)
To carry out the ICO properly, there is due diligence and paperwork that needs to be filed, and approved by both of the main company structures in their local jurisdictions. Yesterday, Thursday 13th, 2018 we received a call from our legal team in Nevis and they suggested we pushed the ICO data back. The problem is due to the holidays and coordination between both legal teams.
Both of the teams are located in seperate countries. One located in Panama and the other in Nevis. Our legal team in Panama is also facing minor issues due to holidays. We need to be cautious and armed with this latest information, we have no option but to delay the token sale until February 1st, 2019. We beleive it’s the responsible thing to do in order to avoid any mishaps.
We will use the extra time to test our ICO dashboard which is already activated but hasn’t been made available to the public yet. We are currently making the final touches on the KYC module and coin compatablity.
We feel that this delay could be a blessing in disguise given that our developers are in the final stages of the pre-release of Chameleon Wallet. We believe that by February there will be a public beta available for the public.
Happy Holidays!
Thank you all for supporting us and being part of this young project. We wish you all happy holidays and a wonderful new year! Stay tuned for our next newsletter for a chance to be one of the first people to test the Chameleon Wallet.
Any questions? Reach out to us
- Discord: https://discord.gg/KstgP8P
- Telegram: https://t.me/chainzillaio
- Email: hello@chainzilla.io
