First of all we would like to thank each and every community member that contributed to the token sale. It’s been one week since the ICO started and we have raised nearly 15% of the total amount.
Our minimum sale amount is 100,000 USD. During the initial days of the ICO we saw a good level of traffic and participation but contributions have come to a halt in the 3 days. Since the early bird bonuses were setup to incentivize participation we can gauge that our token sale will not reach the minimum amount required to expand our project.
Currently we are going to wait until the 15th to make any decisions on the refund date. However, if we don’t receive any contributions during this week we will close the ICO dashboard and begin processing refunds for those users who want to return their ZILLA tokens.
We designated 1M ZILLA for the token sale of which 147,580 have been sold. The remaining tokens will be used to secure funding. There are also 1M ZILLA that are still designated for future airdrops and we plan to distribute those funds overtime to ZILLA holders through the Chameleon app. Once this mechanism is available we will make an announcement on how to get your rewards.
Market conditions are not favourable for ICOs and we are already taking steps towards securing funding through traditional means. Our company offers a variety of services but our MVP is Chameleon Pay which is available for Android and iOS.
We have enrolled Chameleon in several startup competitions in order to attract investors. Our focus will shift from creating more applications to polishing Chameleon Pay and monetizing it. By the end of the first quarter users will be able to make in-app purchases such as gift and mobile prepaid cards.
Furthermore, our company is seeking fiat integrations to allow users to purchase cryptocurrencies directly from the mobile app and spend it at online and physical merchants. We will achieve this by partnershing with multiple businesses and point-of-sale providers to integrate our payment systems. Our priority is to create revenue streams from all of our applications to sustain further development.
CyberTech Panama: ChainZilla is presenting Chameleon Pay as a viable solution as an easy to use e-wallet that integrates the best of the fiat and blockchain world.
BUIDL LATAM: One of our priorities is securing funding to expand our application set and establish our own fiat gateways in several countries to act as an on/off ramp for cryptocurrencies. People need to buy, store, and spend crypto. We have applied to Binance’s BUIDL incubation program which may offer us great exposure and possible investors.