[Announcement] Eligma Crowdsale updates
!!! Important: This article has been updated on April 11th to reflect the fact that we will lock the Ethereum exchange rate at 800 $. !!!
As we have been receiving a large number of KYC applications and the crypto market has been very volatile as of late, we decided to introduce a couple of changes into our crowdsale process. Here is a brief summary of the public presale with the changes highlighted:
Duration of the public presale: 20th March 12:00:00 UTC — 10th April 11:00:00 UTC or until the cap of 22,900 ETH for both the private and public presale phases is reached.
Phase target sum of contributions: 22,900 ETH (for both the private and public presale phases together). When that sum is reached, we will close our public presale. A maximum of 216 million ELI tokens will be available to contributors in the presale.
Contribution limits for the public presale:
Minimum contribution: 0.1 ETH
Maximum contribution: 80 ETH
Validation date: 17th April 8:00:00 UTC; we will lock the Ethereum exchange rate at 800 $.
Why are we doing this?
At Eligma, we believe that blockchain technologies are the future and that the momentary volatility of the crypto market will not affect our project, which is planned for the long term. We are therefore aiming to raise 22,900 ETH in both of our presale phases and use them for funding further development and the launch of the platform (for all information on the funds distribution see our whitepaper). If the total amount raised, converted into U.S. dollars on the validation date, 17th April, is higher than our presale cap of 16 million U.S. dollars, we will return the exceeding percentage to contributors’ wallets.
We have opted for a maximum possible contribution amount of 80 ETH instead of the floating maximum contribution accepted method to make our public presale process clearer. In this way, our supporters will know exactly how much ETH they can contribute. In the previous system, they would have to wait until 17th April to learn how much of their contribution would be returned to them and during this time their ETH would be locked. We understand that was a problem for some supporters, as they would not be able to operate with their ETH funds until our validation date.
We will also announce when we reach our presale cap as soon as possible, so our community knows when to stop sending ETH and has more time to prepare for the public crowdsale.
All the other terms and mechanisms remain unchanged and are described here.
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