Sold Out : The Veris Foundation Pre-Sale.
On May 2nd we sold out our pre-sale at 100,000 VRS. I want to sincerely thank everyone who has believed in our vision and contributed to our mission. I also want to thank our team which has worked hard to ensure we delivered our main net and wallet prior to the pre-sale launch on March 19th. It was important to us to have a main net and wallet functional prior to our go live so as to not sell a token (which in this case would constitute a promise of a future main net).
Our full crowd sale will now begin May 21st and run until either 30,000,000 VRS are sold, or August 31st. Note that our minimum raise is the equivalent of $3M USD as of the close of the crowd sale. Our maximum cap is $40M USD. All contributions between $3M and $40M will be used to create the endowment which will fund operations for the Veris Foundation. This endowment will allow Veris the time and capability to displace much larger, entrenched entities in the health care space. It will also allow Veris to refund part of your contributions in the future once additional revenue streams are in place, as well as back the growth guarantee in our whitepaper.
In business, timing can have a large impact on your success. And timing is something you can not measure until the events have already past. For Veris we launched in March 19th 2018. This choice of timing put our pre-sale squarely at the end of the fifth largest crypto market downturn. We consciously chose in the Fall of 2017 to have our main net fully functional prior to launch resulting in our launch when the market was least optimistic towards crypto and blockchain. What we also knew was this downturn would end as it has in every past crypto correction. Thus we extended our pre-sale window as shown below.
This extension allowed us to mitigate the effect of timing on our business. This extended window also provided time for traditional US healthcare firms to get comfortable with contributing to a blockchain based startup.
Confidence is now returning to the space. Between community members and the increased interest in deploying our proposed solution into US healthcare, Veris is positioned well to take advantage of better timing for our crowd sale.
