The GET crowdsale is completed. Thanks to all the 1179 unique contributors!
As of now (December 13th, 2017) the GET Protocol crowdsale has been completed. This means that it is not possible to contribute to the GET Protocol ICO. If you are interested in acquiring GET, the next opportunity will be to buy GET on an exchange. To keep up to date to updates regarding the listing of GET on exchanges make sure to register to our newsletter.
The crowdsale numbers:
- Total Ether raised: 10 934,62 ETH
- Total unique contributors: 1179 unique addresses
- Current value of ether raised: €6 227 582
- Total issued in crowdsale : 9 901 391 GET
About the crowdsale — Burn it all
While some seem to interpret not hitting our hard cap as something negative for the tokens value, I am afraid I have to point out a flaw in your thinking. The unsold tokens; about 25.8 million, will stay un-minted and can never be minted again (called burning).
This accounts to a crowdsale burn ratio of 0.2683304057!
- Meaning that in the team partition: 8 560 534 GET will be burned.
- Meaning that in the UGF partition: 19 755 079 GET will be burned.
- Meaning that in the bounty partition: 1 317 005 GET will be burned.
All team tokens are vested for minimally 1 year, after that they will be vested linearly. These tokens will not hit circulating supply. Tokens in the UGF will also not effect circulating supply directly. Read the whitepaper. Stability fund does not effect circulating supply on net.
Circulating supply conclusion
The total circulating in the short term (so adding the crowdsale and bounty tokens together) will be: 10 383 554 GET. Bounty token will be distributed in January ‘so short’ term circulating supply will be just the tokens sold in the crowdsale (9.1 million).
All numbers stated here are preliminary in upcoming days everything will be checked, checked and double checked again. Please allow me time to do this. I will communicate when I know that these numbers stated are 100% correct.
Some burns still have to occur!
Due to tax reasons (asset/bonus evaluation by Dutch tax authority) we have minted the team/adviser token allocations before the private pre-sale began under an 100% ratio (thus assuming that the crowdsale would hit the hard-cap). Do not worry. This was not done with un-ethical/self-serving intent. This was merely done to prevent excessive taxing of the vested tokens. These tokens will be burned to ratio upcoming days and put into a vested wallet contract. We will provide proof of this (you will be able to track this on etherscan as well, by the way). Trust us. We will keep communicating everything clearly and honestly like we have done all along!
The road ahead for the GET Protocol
- From 27 December 2017 we will be moving to our new offices in Pakhuis de Zwijger, near Amsterdam central station. We have outgrown our current offices as we are expanding rapidly already. All contributors are welcome to come by and check it out, grab a coffee and get your ass handed to you in a match of table tennis!*
- We are hiring (developers mainly) to build the GET Protocol! We have several people already starting in the new year and embarking on our mission to create an honest ticking solution for the event industry.
- If you are an event organizer or ticketing company that wants to run a pilot with us. Contact us! We are fully operational and experienced. Make an inquiry by emailing us at info@guts.tickets and we will introduce you to the future of ticketing!
- We have some amazing partnerships and announcements coming up so stay tuned. We are just getting started.
It. Is. On. Lets wake up some sleeping ticketing giants.
Please ALWAYS announce you are visiting beforehand by emailing us. Also realize that we have a lot of work to do, also we are an IT company ;) . So don’t expect a welcome party or some great reception. What you’ll witness is a group of about 15 guys/girls hammering code and having meetings. We have a awesome balcony though!
Now lets address the elephant in the room; Exchange listing of GET
We are working on getting the GET listed on a major exchange ASAP.
Exchange listing procedures always force the requesting party to sign a NDA (Non Disclosure Agreement), meaning that the GET Foundation team is legally not allowed to disclose any information on when and where the GET will be trade-able over a particular exchange.
Making inquiries/asking when an exchange listing will happen is therefore completely pointless as our team will not be able to comment on the progress. Also realize that it would be a bad sign if you even got an answer as this would mean that a GET Foundation team member is in violation of the NDA and this will endanger the whole listing procedure altogether.
It is also important to consider that having the token listed swiftly is not a matter that is completely in our hands, crypto exchanges currently face processing huge amounts of new crypto users, new coin listings and changing regulatory environments. I am not implying we aren’t making any progress, because we are, but merely that you should be patient and trust us when we state that we are doing everything in our power to make exchange listing happen sooner or later.
More about the GET Protocol ICO
If you want know more about the GET, read our white paper, sign up for Telegram or get yourself a smart event ticket in our sandbox environment.
