OKEX Frequently Asked Questions

Today we address community questions that have come up in response to the breaking OKEX listing and IEO announcement from last night. #CommunityThursday

1. Why is Pledgecamp launching this IEO?

This is standard listing procedure to list on a T1 exchange such as OKEx. The IEO will attract additional users throughout the world, and especially in China (which was excluded in the public sale). The increased global awareness of the project should benefit anyone who wants the platform to succeed.

In 2019, this is the primary way to list on top exchanges.

2. Why is the price $0.0025 per PLG?

This is a standard discount strategy set by the exchange as a way to promote the IEO to new users. The size of allocation is limited and is not intended to result in a significant raise. This is ultimately just one next step on the way to listing on OKEx and resulting future opportunities.

3. What about users who purchased at $0.01 per PLG?

We understand that the lower price is a surprise for some users and may cause an initial panic. Once that passes however, the savvy investor understands that an IEO price is set by the exchange and does not mean that is the true value of the token.

A PLG holder should realize that listing on a T1 exchange only benefits the token in the long run and opens up more possibilities for the future. If the savvy purchaser valued PLG at $0.01 before, then $0.0025 is merely a temporary mechanism that attracts a greater audience to the token.

As an analogy, if a user values Bitcoin at the current market price of $10k, and tomorrow someone sells off their limited holdings for $2.5k each, then this user would not panic that their entire holdings were suddenly 1/4 the value. It is a temporary “flash sale” that brings more people to Bitcoin, or an additional arbitrage opportunity for them.

The user knows their calculations from yesterday still hold and that their original $10k valuation remains correct, or possibly even undervalued after the token attracts the appetite of an entire new market.

4. What is the team doing during this time?

We are hard at work pouring our energy into the platform. If you remember, the Alpha release of the platform is scheduled for the end of August. For those who are concerned about founder compensation, for transparency, here is our compensation since the start of the project in Jan 2018:

Average compensation for the three founders = $4,767 net per month (inclusive of benefits and bonuses, which are $0).

Conclusion

We are as invested in the success of the platform as anyone else.

“Success” is disrupting the industry with a superior product, not speculative token selling before the platform even makes revenue.

Anyone with a speculative mindset without caring about the actual product may understandably panic out of ignorance, but speaking as a team , we have very little sympathy for the “get rich quick” mindset. For those who care about long term success with a real product, and can understand what is happening in a savvy way, we know you are excited for the future with us and we are excited to deliver to you.

Signed,

The Founders

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For more details about the Pledgecamp platform, refer to our white paper accessible at https://pledgecamp.com/whitepaper.

This post may contain forward-looking statements about the future functionality of the platform. The platform is currently in development, and we reserve the right to make changes to the design, names, or functionality of features in the interests of making the platform successful. For full risk factors, see white paper.