4 Token Sales Postpone Until August
After recent attacks and hacks hit multiple cryptocurrency projects in the past week, three have postponed upcoming token generation events (TGE) to reevaluate. Some also cited the upcoming Bitcoin soft fork deadline as a factor. A fourth decided to postpone after failing to meet a presale goal. Token Report has been keeping an eye on these projects on the Token Tracker.
Propy
New open date: Aug. 10–15
International real estate transaction platform Propy had originally planned to open on July 25 and run for one month. It announced in a Facebook post on July 23 that it would be delaying its token sale in light of the Parity multisig wallet and CoinDash attacks as well as the Bitcoin fork deadline approaching on Aug. 1. It estimates that the exact date will be announced on Aug. 2 or 3.
Rivetz
New open date: Aug. 10
Massachusetts-based Rivetz announced on July 24 that it would postpone its token sale in light of the potential changes to the Bitcoin network on Aug. 1 which would in turn bring up security concerns or market disruptions. It said in its announcement on the website that it would release a “Security 101” guideline on its website to help people verify the contract address while “heavily” using SSL and public key infrastructure (PKI) certificates to assure proof of authorship. Rivetz’ presale will be ongoing during this time.
Filecoin
New open date: Aug. 7
The much-anticipated Filecoin token sale, which will only be open to accredited investors with individual annual income of at least 200,000 USD, has been postponed until Aug. 7. The team announced it in a newsletter sent out on July 25, citing the need for more time to verify investors and the accreditation process. Filecoin also said it would hope that the extra time would allow “new date participants [to] have ample time to dive into [the] technology … and get through the mechanics of preparing for the sale.” It released a Filecoin primer document further outlining the project as well as promises to release a roadmap and research works in progress. Token Report summarized Filecoin’s offering in this week’s newsletter.
SLOGN
New open date: TBD
SLOGN (website), originally set to open July 25, announced it will postpone its token sale indefinitely after it missed a minimum fundraise amount of 1,000 ETH, set for its presale. The company, which is developing a logistics marketplace with an artificial intelligence component, said it will refund contributions on its website. Developer Ihor Pidruchnyy in an email said SLOGN will go ahead with product and business development and plans to commence another token sale in the future.
Token Report is an independent financial information service founded by Galen Moore and Peter Vessenes. Galen is a financial journalist with a background in startups, venture capital and launching news sites. Peter is a co-founder of the Bitcoin Foundation, and launched the first VC-backed Bitcoin company in 2011. He is managing director at New Alchemy, a boutique consulting and investment group based in Seattle, Wash., that is making a pre-seed investment in Token Report.
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