Matchpool Optimisation Strategy
This article details our decisions to protect the current Ether raised in the Matchpool Crowdfunding Campaign.
Update: As part of our optimization strategy we are going to sell another 20% of the total raise so we will reach the target of 50% of the total raise, which is another 25k ether.
The Ether price is currently volatile and so a decision has been made by the Matchpool Team to hedge 10% of the raised funds. 12,500 Ether has been sold for 504 BTC.
504 BTC x $1129 (BTC price)= $570,000
Information Update: We had a miscommunication within the team and I want to correct my original post. The funds were not sent to BitcoinSuisse. The funds were sent to a secure Trezor wallet, which can be seen below. It was a hectic day we’ve had a couple of sleepness nights so I apologise for the misinformation.
It would have best to communicate this first to the community before completing the transaction, however Ether was extremely volatile and the decision was made quickly in the interest of the project’s future.
This decision was made in the interest of the project, our contributors and to protect the raised funding. In the future, we may sell an additional 50% of Ether into Bitcoin and we will notify this amount when necessary.
We believe that transparency is critical when communicating company decisions. Trust, reputation and accountability are core values of Matchpool’s culture and are the key components to our platform.
We are humbled by all of the support and contributions so far. There is 7% left to go at 440 GUP to 1 ETH. If you would like to contribute towards the campaign, there is still time. If you require support with your contribution we will be supporting again all day today in Slack in the #support channel.
Max & The Matchpool Team