Unless you have been playing Yahtzee in your fallout shelter or travelling the Siberian tundra on a tricycle for the last 8 weeks you will have noticed that there has been a riot going on in the crypto markets and things have been challenging for everyone.
This has prompted many current token sales to review their strategies and we are no different. We have thought long and hard about how to achieve the best result for our participants and our vision and consulted our community along the way.
We have now made the decision to extend the opportunity of participating in our token sale, the sale will be extended until Thursday 31st May 2018.
Why have we done this?
Well for several reasons, really…
1.To allow the market to recover (and alongside this the price of ETH) to ensure that our participants get a good deal from contributing to our project.
2. To enable us to continue negotiations with some big name Customers/Partners and if possible within the time frame given, publish these to our community to illustrate the potential of Omnitude and the enthusiasm and confidence we are receiving from some very exciting businesses.These Customers/Partners are a big deal, they include governments, sporting giants and iconic global brands amongst their ranks. All of them excited at what Omnitude can bring to their businesses and organisations, all of them instantly recognisable anywhere in the world.
3. To prove to the crypto market we are beyond serious in our dedication to driving the mass adoption of blockchain through a vision that is very, very big. You will be able to come and meet us at Consensus in New York on May 14th-16th 2018 where we are a major sponsor along with IBM, Accenture and Microsoft.
Is our roadmap affected?
We are still dedicated to meeting the deadlines we have set out on our roadmap, this decision does not affect that in the slightest.
Burning tokens
We are still dedicated to burning any unsold tokens at the end of the sale. Ensuring that the total amount of publicly circulating tokens will always be 55% of the total supply. As we have always promised. And remember the % of tokens allocated to the team will be locked and 20% of the total token allocation for the team only will be unlocked on an annual basis over a five year period. This helps us protect the inherent value of our ECOM token.
Still no Whales!
We are still not accepting any Whales at huge discounts, the maximum discount we have ever given is 15% and that is still the case. We have turned down over $30 million in contributions because the requirements of huge discounts seemed neither fair or sensible for our participant base. We need our token to be primed for solid stable growth, not susceptible to large dumps on the market.
Solid and stable growth for ECOM
Our ECOM token has utility baked into it so it will always be needed to access and undertake actions within the Omnitude ecosystem. Consequently, the value of our token will increase with the growth of our ecosystem.
Annual audits
We are committed to being audited annually by a credible financial authority just like any other UK business, and having these results made public.
We are telling you this now because it seems the most open and honest way of communicating our decision, we did not want to wait until the last minute. This way you can make an educated decision on when the best time to participate would be for you.
Omnitude is going places, and we are bringing all our participants with us.
Any questions, please ask them on our Telegram channel.
Chris Painter
CEO and Founder
Omnitude
P.S. If you haven’t already participated, please do so here as well as read ICORating’s Rating Review here.
