After an overwhelming demand — we’re closing the first round of deposits
Last Sunday, after we launched our Alpha, we started accepting early deposits to help our most enthusiastic supporters purchase tokens prior to the sale. Seeing an unexpectedly high volume (and size) of early contributions, we have decided to immediately end the first stage of deposits.
We’re humbled by the overwhelming number of early deposits, which have come in at a remarkably higher rate than we imagined. We did not allocate enough of the 16,750 ETH (Wemark’s hard cap) for the first round and if we keep the current rate of deposits until the end of the first round (July 16), we’ll eventually have to reject or reduce a large number of deposits.
Our priority is creating a sustainable economy for the long term, so we’re taking extreme efforts to assure that WMK tokens end up in the right hands. We run careful and intensive due diligence, KYC and AML on each one of our contributors — and review each individual contribution before we approve it.
After Monday’s awesome flood of deposits, we’re spending late nights at the office reviewing and approving them. We’re aware that some of the contributors who made deposits on Monday still haven’t received a response from us — we’re hoping to resolve this as soon as we can. Thanks, in advance, for your patience.
If you already started KYC, you will have 24 hours (from now —5:00 pm CEST) to make an early deposit and be eligible for the early bonus (up to 30%). The second week of deposits starts, as planned, July 16th.
Anything you want to know about deposits? Read our Medium post.
We’re doing our best to prepare for the second week of deposits. We’ve enlisted more members of our team and cleared out other priorities to help reduce the review and response time to less than one day. Anticipating that contributions will increase as we get closer to the sale, we’ve reserved a larger amount of tokens for the second round starting next week. This should be sufficient to match the growing demand and interest in Wemark, which we are very proud of.
It’s all good and exciting, but also requires us to be flexible and make quick changes, to make sure we stick to our plans for the allocations of WMK and timeline for the sale.
We apologize in advance to early contributors who won’t get to contribute as much as they’d like, and to anyone who didn’t start KYC yet and won’t be able to get the early bonus. If you haven’t started the whitelisting process yet, you can sign up as usual and get ready for deposits to resume (with up to 25% bonus) on July 16th.
Whitelisting/making an early deposits for registered users can be done here: https://contribute.wemark.com
