Dear Iryo supporters, a few months ago, we had postponed our planned initial coin offering and held a limited pre-sale round with the ICO date to be announced later in the year. In our opinion, the conditions on the market have not substantially improved since then, while the signal to noise ratio has probably even worsened. We have therefore decided to cancel our ICO indefinitely.
While the current situation might be negative in terms of crowdfunding opportunities and for good projects to outshine the bad ones, we think it will bring positive long-term results.
Blockchain is a paradigm-shifting technology and it is only natural that it sparks creativity and captures the imagination of many. However, the hype always causes too much to happen too soon. While we are still firm believers of decentralization and tokenization and we have little doubt in our minds that ICOs are a good form of raising capital and are here to stay, we believe more time is needed for the ICO space to clean out and to get back to a healthy growth phase. In the current environment, it is not about the best ideas, the best teams and the best implementations but about other things, things that we are not and do not want to be good at.
That does not mean that Iryo is closing its doors. We are as committed as ever to our mission to unlock the value of healthcare data and to help put healthcare on a path of sustainability. In the past year, we have proved that we have the vision, the skills and the execution power to make a positive impact and many interesting opportunities for Iryo have sprung up, that we are now pursuing.
In the meantime, we will let the work speak for itself and distill the good crypto projects from the bad ones. We will seize this opportunity to do what we do best, and that is combining bleeding-edge technologies with a humanistic mindset to create products that have a meaningful impact. And if we ever decide to hold an ICO, we will be stronger than ever.
We would like to thank everyone for your continuous support and kindly invite everyone to remain active members of our global community and to participate in our telegram channel. We also encourage anyone interested in our work, to reach out to us directly. Healthcare is the common denominator of us all and if we want to improve it, we need to be as inclusive as possible.
To everyone who has participated in our public pre-sale:
We will be returning the collected funds within the next few weeks. The ETH funds will be returned to the address they were sent from. The EOS funds will be returned to the EOS wallet addresses that were linked to the ETH address from which we received the EOS ERC-20 tokens. If you wish to receive your funds to a different address, please reach out to us individually. You have until Friday, October 12th, to do so and please note that we will require some form of identification to make sure that the rightful owner is claiming it. If you do not contact us by Friday, October 12th, we will assume that you would like to receive the funds to the originating address. Please keep in mind that after we send the funds, the transaction is final.
When all the funds are returned, we will delete our database of individuals and corporations who have whitelisted for our crowdsale in accordance with the data privacy protection regulation.
Thank you for all the support so far and we hope that you remain a supporter of Iryo and our quest to improve healthcare.
Vasja Bocko, cofounder & CEO