Update — Day 10 of Simple Token ICO, 109% of Target Hit, 3105 buyers, & Comments on Rising ETH prices

In our 10th day of the Simple Token ICO, we have now achieved 109% of our Target for the sale. Huge, huge, thank you to the 3105 people who have purchased ST and supported the project already!

It has been simply awesome to the number of new purchasers accelerating the past 48 hours — whereas most token sales putter out after the first day. Our very active Telegram channel has now grown to 4787 members. (you can find me and several of our team members there 18 hours per day.) Again: thank you, thank you, thank you to the growing Simple Token community for you support and enthusiasm. We are humbled and inspired by your interest in our mission to help bring the benefits of blockchain to the mainstream. Your passion and support drives us forward.

The ST token sale will end on 1 December or when 240M ST are sold, whichever happens first.

Like everyone else in the industry, we have been watching with amazement as ETH has been rising and rising and during our sale began on the 14th. This is relevant to the ST sale because the only way to purchase ST is with ETH. If you’re holding ETH, you’re hopefully happy about your gains.

With regards to what it means for ST.

  • Every purchaser of ST will get an additional 5% when we hit the Kicker when 120M ST is sold.
  • Every purchaser of ST will get an additional 5% when we hit the Power bonus if/when 180M ST is sold.
  • So, every buyer of ST is already getting 35% bonus ST and will soon get 40%. This applies to all previous purchases and all new purchases.

What this means in terms of effective price of ST for buyers:

  • Markets go up and markets go down. Recently it has been up. Tomorrow it could go down. Our focus has been on the project and in creating a fair process and good price of ST for all buyers.
  • When the sale started ETH was hovering around 330.
  • Someone who bought in at ETH 330 is effectively paying $0.06793493785 per ST with the current 35% bonuses, $0.06550869007 per ST once we hit the Kicker.
  • Someone who bought in at ETH 380 is paying $0.07822811025 per ST with the 35% bonuses, $0.07543424917 per ST once we hit the Kicker.
  • Someone who buys in at ETH 410 is paying $0.08440401369 per ST with the 35% bonuses, $0.081389584632 per ST once we hit the Kicker.
  • Someone who buys in at ETH 440 is paying $0.09057991713 per ST with the 35% bonuses, $0.08734492009 per ST once we hit the Kicker.

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 Kicker and Power bonuses if/when 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.