Adding protective layers to Mysterium token sale
Hello all and thank you for your support and this incredible increase in interest. During last few weeks we have received so much of it— we can hardly handle the load.
As an example — we launched MVP program just 3 weeks ago and there are already over 950 nodes available. This is ten times higher than our expectations.
Protective Improvements of token sale terms
There is a great risk of ETH price volatility. We received signals that ETH price has a big chance of downward movement (short term).
Also we want to let you know that after the token sale takes place — all collected funds will be locked for 2 weeks, without any ability for us to touch them during this period, until we perform final checks.
Which means that Mysterium as project will be highly vulnerable if larger price movement takes place during this time.
Also we received lots if increased interest for Mysterium token sale from multiple countries, especially from Asia. And as you may know — presale through Bitcoin Suisse sold out quickly last week.
Given recent history of token sales where many participants were not successful at entering the sale just because it ended too abruptly — we want to protect you with following changes:
- All collected funds will be locked for 2 weeks in a secure Vault, making funds safe but increasing a risk of potential damage to project coming from ETH price volatility during this period;
- Once a 6M CHF SoftCap is reached — we decided to increase the timer to 72 hours from previously set 24h. This will allow all people a chance to participate in case you were to travel or otherwise not able to participate within a shorter time window.
- Seeing this great volatility in ETH price — we decided to add additional protective layer and set a hard cap to 14M CHF. If token sale is able to attract that many contributions — this will provide an additional insulation from possible downwards volatility and ensure Mysterium has sufficient funds to deliver promised results.
Protecting the fledgling Mysterium
We want to take certain protective measures protecting both the project and token sale participants, which led us to these final conclusions.
As a team we want to thank you all for taking the time and effort to get familiar with Mysterium, its goals, means and all the fine details. We wish everybody who will be participating in our token sale tomorrow — a smooth ride.
Stay tuned as we are getting ready to publish address data for participation, which will be posted only on: https://mysterium.network/
