As many of you have seen, these past 24 hours have been very wild for the crypto markets, for our community, and for us. We wanted to take the time to go over how things have been going for us and share our general feelings.
Two or three days ago the price of ETH was sitting at $440. Yesterday it hit $500, and this morning it passed $700. These enormous swings in price honestly worried us about our project’s security. Since we have to withdraw from our smart contract AFTER January 1st, ensuring wild downward trends don’t ruin things for us was on the top of our mind. It has never been our intention to raise more than we need. This clarification will surely show that. In other words, if we close the sale at the current price of ETH then it drops to $250-$300 we would have missed out
In the end of the day we truly care about our community. The entire architecture of our platform is built upon the bandwidth of those that believe in us and share our vision. In this newly emerging world of decentralization and sovereignty, we have the power to all come together to build something revolutionary.
So to clarify our hardcap, we will be leaving it at $12.5m USD. Once our counter hits that value, we will no longer be accepting funds or whitelisting anybody. We will be constantly monitoring the total value. If our total count falls significantly below that value (could be caused by ETH crashing) we will open up purchases again. Once January 1st comes we will look at the total amount sold in USD, if that amount is greater than or equal to $12.5m USD then we have hit our target and can freely withdraw and end the sale. However if the price of Ether drops significantly below $12.5m USD then we will be run into the public sale (January 14th, until we hit our $12.5 million goal).
We’re clearly listening to the community as we move forward with this project. A huge key to success is transparency and openness. Whenever we can we are asking for feedback and gauging how people feel about the direction we are taking. In the long run every step we take is intended to benefit this game changing platform!