InsurePal Pre-Sale Contributions: Ethereum value growth to cause a proportionate return of funds

Since we started the InsurePal whitelisting pre-sale, we have witnessed a tremendous growth of Ethereum. This has caused us to exceed the pre-sale hard-cap set on $12,6 million. As a consequence, the surplus of funds will be proportionally returned to all pres-ale contributors.

InsurePal is closed-end fund, meaning we are raising a fixed amount of capital through an ICO (initial coin offering). These funds are then structured, listed and traded as IPL token. The price of IPL token will be determined by the marketplace and locked on January 16, only a few hours prior to the crowdsale.

In total, we are raising $18 million of seed capital. Of 300,000,000 IPL tokens issued, there are 201,000,000 IPL available in the token sale in the following manner:
- Pre-sale: 70% (140,700,000 IPL)
- Crowdsale: 30% (60,300,000 IPL)

The growth of Ethereum affects presale contributions

In the whitelisting pre-sale, we aimed for $12,6 million and sold-out all 70% of IPL tokens available (with an additional 10% bonus included). Our pre-sale contributors have contributed with Ethereum, whereas InsurePal pre-sale and crowdsale hard-caps are defined and limited with USD dollar. Since we began with the whitelisting process, the crypto marketplace has witnessed a tremendous growth of Ethereum. As a consequence, the contributions made in pre-sale have surpassed the initial pre-sale hard-cap goal.

All presale contributors will be proportionally refunded

We have considered a number of options for returning the surplus of funds invested and decided the best way is to use the method of “hair-cut”, meaning we`ll return them proportionally to each and every presale contributor.

Doing so, we will achieve two important advantages:

- All pre-sale contributors, regardless of their input, will receive an unchanged amount of IPL tokens

- All pre-sale contributors will also be refunded with a proportionate share of Ethereum returned back to their wallet address.

We are convinced that this solution is in the fairest for all of you who believed in our project from the beginning and have shown your support in such a large number. By doing so, you will not only get your IPL tokens, but also gain on the extra Ethereum.

The process of returning funds to early contributors will be initiated on January 16.

Last-minute Crowdsale Details

InsurePal crowdsale is set to begin on January 16, once a specific block is reached. We will make an official announcement and publish the InsurePal crowdsale public wallet address here: https://insurepal.io/crowdsale. We will livestream the event on our Facebook page, so stay tuned! :)

Please, also note the start estimation is not necessarily 100% accurate. All who wish to participate are advised to whitelist as soon as possible as KYC process takes time and spots are getting extremely limited.

For more information about InsurePal crowdsale, visit our website www.insurepal.io and join us in conversation!

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