Science Blockchain announces token freeze, plans to upgrade SCI token
SCI tokens will be frozen and permanently immobilized on Wednesday, December 5, and a new upgraded SCI token will be issued in the near future
Santa Monica, CA — November 29, 2018 — Science Blockchain Pte Ltd., the premier startup studio investing in and building blockchain technology companies, today announces that it will be freezing the SCI token as of December 5, 2018 in order to upgrade the token.
The upgrade will enhance the compliance process with respect to securities regulations. Science Blockchain will provide further instructions on the token upgrade process in the coming weeks.
Other tokens that have been distributed through the SCI token smart contract, such as AVT (Aventus), MFT (Mainframe), WPR (WePower), DOG (ICO Watchdog), NCT (PolySwarm), and more, will not be affected and remain available for withdrawal from Tokenhub, based on each SCI token holder’s status. Science Blockchain strongly encourages all of the SCI token holders who are permitted to withdraw their AVT, MFT, WPR, NCT, INVITE, and DOG tokens to do so immediately.
As a reminder, U.S. investors’ tokens are locked for one year and not able to be withdrawn from Tokenhub. SCI tokens were made available for withdrawal by non-US investors from Tokenhub beginning on Dec 14, 2017. Withdrawal requests could be made starting at 06:00 pm PT Dec 13, 2017. Withdrawal requests made before 08:00 am PT Dec 14, 2017 were fulfilled before 23:59 (11:59 pm) PT on Dec 14, 2017. All subsequent requests have been processed on a daily basis on U.S. business days and can take up to 2 business days to process due to security precautions. No new token withdrawal requests will be processed until the upgraded tokens are issued. If you have withdrawn your SCI tokens from Tokenhub previously, please ensure that they are held in a wallet you control at the time of the freeze.
To find information on the contract, you can visit: https://etherscan.io/token/0x1556a3ddb4fa2e9e8d6355380e4d22f9d32592cc
SCI token holders are encouraged to register and visit https://www.science-inc.com/blockchain.html for current information or to contact the team.
About Science BlockchaIn
Science has been helping entrepreneurs build successful businesses for more than six years, during which time it has funded or founded more than 85 companies, and has had $1.3B in aggregate portfolio company exits. Science Blockchain, the first incubator in the world to be funded by its own tokenized compliant securities offering (token: SCI), intends to continue this history of successful company building by helping incredible blockchain entrepreneurs create and scale the software giants of the next century. We do this in three primary ways: 1) incubating promising early-stage blockchain ventures, 2) engaging on a very limited and selective basis, with companies looking to take advantage of the possibilities presented by tokenized economies, and 3) investing in compliant private offerings of blockchain businesses. The unique token structure of SCI allows us to distribute 70% of the total tokens that Science Blockchain receives through our incubation and investment strategies directly to the SCI token holders. For more details, please visit https://www.science-inc.com/blockchain.html.
Disclaimer: This document contains certain forward-looking statements, relating to Science Inc.’s business, which can be identified by the use of forward-looking terminology such as “promising”, “plans”, “anticipated”, “will”, “project”, “believe”, “forecast”, “expected”, “estimated”, “targeting”, “aiming”, “set to”, “potential”, “seeking to”, “goal”, “could provide”, “intends”, “is being developed”, “could be”, “on track”, or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Science Inc. is providing this information as of the date of this document and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise.
