The CRNC Token — Weekly Update #10🗞🌎

The token distribution initially scheduled for today, Friday, August 24th, is postponed, along with the commencement of the Airdrop process with Coinlist. We understand the road to token distribution has been a long one with several delays and the entire Current team appreciates your continued patience and support. We know this comes as a disappointment to many of those in our community, but we’ve decided to delay based on the recommendation from legal counsel.

Current has followed a slow and measured approach with each phase of development and distribution, and we’re confident this practice, while not fast, is in the best interest of protecting our contributors, future token holders, company, and team.

When operating in an industry where regulatory guidance is ambiguous at best, and one that’s unfortunately rife with fraud, it’s critical that the company abide by the highest of standards, and self-regulate until regulations are clearly defined. For an in-depth look at how Current is approaching regulation and consumer protection, please refer to our recently published Medium post.

Before making this decision in collaboration with the advice from our counsel, we saw a unique opportunity to take a proactive approach and open up a dialogue with key regulatory representatives in the United States — conversations we feel are more effective before distribution rather than after.

Simply put, we feel like we have a lot to prove, and want a seat at the table while these regulations develop. Our perspective is that brief delays in distribution now will lessen the opportunity for severe issues in the future.

From a technical perspective, we are prepared to conduct token distribution successfully. Our smart contracts have gone through a final audit by three different third-parties and given a 100% passing score. For more detail, we’ve recently made our GitHub repository with the smart contract & auditors report publicly available.

We apologize for the further delay, but by taking these steps with a well thought out approach, we’re ensuring that we’re protecting the interests of everyone involved. We still intend to publicly launch Current on Android next week along with doubling the number of daily invites sent out for earning with Current protocol on iOS.

Thank you for your patience as we go through this process, we remain committed to keeping you informed.

The Team @ Current

Please read important legal disclaimer: No money or other consideration is being solicited by this communique, and if sent in response, will not be accepted. Our discussion may contain forward-looking statements that are based on our beliefs and assumptions and on information currently available to management. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “is designed to,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.

These statements involve risks, uncertainties, assumptions and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each such forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements include, but are not limited to, statements about: developing and designing the Current network, including the $CRNC token and its future utility; the anticipated development and growth of the Current network; maintaining and expanding our base of users; our anticipated growth and growth strategies and our ability to effectively manage that growth and effect these strategies; our expectations regarding regulatory developments and their effect on the Current network, including the ability of applications on our network to develop a user base and a successful business model; and potential future listings on an exchange or ATS. We cannot assure you that the forward-looking statements will prove to be accurate. Furthermore, if the forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.