Less Than One Week Away From DAICO. Entering The Final Stretch
With less than a week left before our Token Sale (DAICO) we’re introducing a pack of updates, this one being extremely important. Please, pay attention:
- Our Token Sale advisors suggested extending the project’s DAICO by two months, ending on May 16, 2018;
- Hence we have revised the bonus program, providing more time to get bonus tokens: First 48HR (25%), Days 3–7 (15%), Days 8–14 (10%), Days 15–21 (5%);
- Once forced to move the launch of the Token Sale from Dec 2017 to Apr 2018, the first version of the platform with the startup game package will be delivered in Q2 2019;
- On gaining numerous requests from our contributors, we also decided to run an effective KYC (Know Your Customer) program for everyone. In addition, the U.S. citizens should pass the accreditation process. The respective instructions on passing the KYC/AML process will follow;
- Due to the expenses resulting from introducing the KYC/AML and verifying each contributor, the minimum contribution is increased to 0.1 ETH;
- Seeing a growing interest to our project, we enable whitelisting. Everyone who registers and passes the KYC/AML procedure successfully, will be whitelisted and have a guaranteed right to participate. We reserve the right to stop whitelisting any time;
- Our project is Ethereum-based. Entirely, upon adopting the DAICO model. Initial Hard Cap was based on completely different market circumstances, and we did not want to change it every time the ETH price fluctuates. In December ETH was $500, and we set 100 000 ETH Hard Cap at that time. It was about $60 mln overall. Then, the ETH price increased, so 100 000 ETH became $120 mln. Now, with positive forecasts for February and further, we are decreasing it;
- The Hard Cap is now divided into several parts — the International and the U.S.;
- The International Hard Cap is 40M USD. Starting from the 8th day of DAICO, minimum contribution remains the same, with no cap limit. On reaching 40M USD on Day 15, the international participants may still contribute until the Token Sale (DAICO) overall Hard Cap is met;
- The Hard Cap in the U.S. is 20M USD, with minimum and maximum contributions for days 1–7 being 1 and 100 ETH respectively. Starting from the 8th day onwards, minimum contribution remains the same, with no cap limit though. If the U.S. Hard Cap is reached on Day 15, starting from this day, the accredited U.S. participants may still contribute until the Token Sale (DAICO) overall Hard Cap is met. Under the relevant U.S. securities regulations, tokens sold to U.S. accredited investors will be frozen for a 1 year period;
- We now accept Binance (BNB) tokens and establish additional Hard Cap (300 000 BNB) with a minimum contribution 1000 BNB, but no cap limit. BNB tokens are not subject to a vesting period and can be withdrawn by the developing team for the project’s purposes (if needed) after the end of crowdsale. We will set a course for BNB in a few days before the start of Token Sale depending on the ETH market rate. Please, note that BNB tokens are accepted from the international (non U.S.) participants only;
- ABYSS tokens assigned for the Company will be frozen by the DAICO smart contract for a period of 1 year;
- The Reserve tokens (18% of total token supply) will be frozen for 6 months. The reserve will be used to provide motivational rewards to players to accelerate the ecosystem growth at the early stage of platform operation, and also to bring the amazing new games to it;
- Yet another good news for the U.S. contributors! Although only accredited investors are allowed to contribute, still all citizens and residents of the United States can join our Referral Program to receive free tokens for each referral payment;
- The Korean version of The Abyss official site is now available, with others сoming soon.
- And finally, we updated the “Use of Proceeds” section, with more detailed information added. Also there are two versions now: for the Soft Cap and Hard Cap contributed:
This is a complete list comprising 16 practical changes.
Also introducing Michael Kim, the project’s Business Development Advisor. Michael has worked in multinational video game and IT companies such as Electronic Arts, Microsoft, Blizzard, Wargaming and Havok.
He successfully took various responsibilities in marketing, sales, business development and management positions for more than 18 years. Since 2017, Michael is a CEO & Founder of CoinInside company.
Less than one week away from DAICO. Looking forward to it.
Join The Abyss, the world’s first DAICO!