Simple Token ICO Update: 150% of Target Achieved, Momentum Accelerating, 40 Hours Remain

Those who follow the ICO space know that most token sales spike early and then flatline.

With Simple Token, we’ve been experiencing an acceleration of sales as more and more people hear about the project and then join our Telegram channel and ask questions to our team.

With 40 hours remaining we are now at 150% of our target, thanks to 5085 buyers and 6117 very active Telegram members.

Our team is completely overwhelmed and humbled by the outpouring of support from the community. We’ve learned a lot through this process — and I’ll write several follow-up blog posts on what’s worked and what didn’t — but one thing for sure is that engaging with the community has been our best strategy. People who get to connect with us, ask us questions, and learn about the purpose and utility of Simple Token, tend to support the project. Thank you. We promise to be as connected with the community — if not more — when the token sale has ended.

As this chart shows, the % of ST sold vs. our target was growing steadily but not spectacularly until 23 November. Since the 23rd it has taken off, growing 7.7% on average per day. During the same period our Telegram channel grew 100% from 3000 persons to 6000. Looking at our analytics attribution data, the vast majority of the increase can be attributed to positive word of mouth, crypto-industry websites and podcasts, and social channels.

This next chart shows the steady climb in # of transactions per day, with day 15 of the sale being the strongest day in number of transactions-wise since the day 1 sale (day 1 is skewed because it was only open to people who pre-registered).

With 40 hours remaining, we are inching up closer and closer to our “Power” bonus, whereby all purchasers get an extra 5% bonus on all of their purchases. We structured these Community Bonuses such that they apply to all purchasers, old and new — someone who purchases today or 8 days ago get the same bonuses, as does someone who comes in after one of the milestones are achieved.

  • All bonuses apply to all purchasers and all purchases past and future until 1 December or the hard cap of 240M ST is achieved. Our customers can buy as many times as they like, on any day they want, and still get the bonuses on every purchase. We designed it this way for fairness to all. The motivation to purchase earlier is that the sooner we hit each milestone, the more time there is for the community to spread the word and hit the next milestone.
  • After the kicker, our next milestone, ST Power, is 180M ST, and if hit all purchasers will earn another 5% bonus.
  • The absolute Hard Cap is 240M. Any unsold un-bonused tokens from the hard cap will be burned.
  • (I’ve been using this analogy in Telegram to explain our philosophy regarding our community bonuses: You can think of it as if we are running an ice cream shop. Our goal is to sell 100 ice cream cones. But we have 240 to sell. So we decided to give all of our customers discounts in form of extra ice cream as we sell more — so everyone shares in the upside, and to grow the community and get more people involved in the ST project. We also believe that it’s in the community’s best long term interest to have as many token holders in the early days as possible, with a long tail distribution)
  • The token sale will end when the Hard Cap is reached or on December 1, 2017.

WHO SHOULD BUY ST?

We want buyers who want to use the OpenST protocol and who believe in the long term potential of the project, not speculators. As shown above, we have taken great strides to help make sure that all purchasers of ST are getting great prices.

Please purchase Simple Token only because you believe in the project and promise of Simple Token to help mainstream businesses embrace and benefit from blockchain. We cannot comment on it as an investment and we cannot provide investment advice on any topic nor discuss any potential returns on any investments.

To be clear: There will be no further bonuses or adjustments for the duration of the token sale ending 1 December, 2017, except for the Power bonus if hit. As described on our website at https://sale.simpletoken.org

Our advice for ST buyers: Focus on the real utility and benefits of ST.

FURTHER BACKGROUND

STANDARD PHISHING SCAM ALERT STUFF

LEGAL DISCLAIMERS

This Medium post is not a prospectus nor a solicitation for investment and it does not pertain in any way to an offering of securities in any jurisdiction.

You must read the entirety of our Terms & Conditions document carefully before making any decision to purchase ST Tokens. You must also monitor the https://simpletoken.org website and our Medium publications for any announcements from the Foundation as they may add to, or change, these Terms and Conditions at any time.

Purchasing, holding or using cryptographic tokens carries significant potential financial, regulatory and other risks, including potential loss of the entire value of Payment.

Tokens are only for sophisticated purchasers who are knowledgeable and experienced in the features and risks of digital platforms, digital assets, blockchain technology and smart contracts. Potential purchasers should determine for themselves the relevance of the information contained in this document and related materials, in each case as supplemented from time to time, and the necessity for additional enquiry, research and professional advice. Any decision to participate in a token sale should be based upon such independent investigation and advice as you deem necessary. This document should not be considered as a recommendation by any person to participate in any token sale or digital platform.

In particular, you should not purchase any Tokens unless you have read and understood the terms and all other relevant materials and fully understand the Token Sale, including at least the following:

  • the nature and purpose of the Token Sale and its cryptographic context
  • the procedures required to purchase Tokens;
  • the nature and the extent of the risks to which you may be exposed by participating in the Token Sale or purchasing, holding, transferring or exchanging Tokens, including those set out in the Risk Disclosure; and
  • the regulatory, tax and accounting treatment of participating in the Token Sale and purchasing, holding, transferring or exchanging Tokens, as well as any other relevant implications.