Fluence Tokensale Shift
Last days we have been receiving lots of questions about the upcoming tokensale and listing Fluence token on exchanges. Let me share some information.
We were expecting to launch the main tokensale in Q4 2017, but it seems the beginning of 2018 should be a better option.
Tokensale market became so hot last months: currently, up to 100 new sales come to it every week. Due to high competition, many of these projects don’t receive enough attention and cannot reach their goals. It leads to a situation when they cannot get enough liquidity on exchanges and therefore be listed on the major ones. Today, a tokensale is a relatively easy fundraising in comparison to VC, but nobody wins if it is not successful.
A successful tokensale event requires few components:
1. Right legal jurisdiction. For the main tokensale, we are having a conversation with Zug-based law firm which previously successfully incorporated Ethereum, Tezos, Golem, Bancor, Melonport and other well-known crypto networks. This should provide a better branding and increase the confidence of main tokensale contributors. However, due to latest statements from Swiss regulator the whole incorporation process should take about 4 months.
2. Right tokensale partner. It’s extremely important to have a partner who can presale our project to major investors right before the tokensale. Right now we are in the conversation with few leaders in the space, but they plan to have an open spot in the pipeline in the beginning of the year.
3. Released prototype. It is also important to have a proof of concept of the product before the tokensale to prove that the team can actually deliver. We can ship a prototype in Q4, but a better quality one might take some more time. That’s the third argument to have a shift.
All these arguments urge us to move the tokensale to the beginning of the next year. However, this way we will also get more time to release and grow our technology, establish solid partnerships with other crypto projects and dig deeper into the research area — which all should ensure a successful tokensale.
Below you can find a formal plan.
#1 FPT token unlock
Some of the Pre-sale contributors might want to trade their tokens and not wait until the main tokensale. To support this, we plan to unlock FPT tokens and allow to trade them through the smart contract. As a reminder, the base token price that was set after the Pre-sale is ~$0.44, but the market might vary it. However, we don’t expect the market price to change significantly. The ETA for token unlock is December 1th, when we’ll release a token holder panel for managing tokens. As a clarification, FPT won’t be listed on any centralized exchanges, but will be tradeable peer-to-peer instead.
#2 Token Generation Event
FLU tokensale is planned to happen under the Swiss jurisdiction in the beginning of 2018. The FLU token price for the main sale will still be set as $0.44. Tokens will be issued by the foundation managed by the Fluence team.