(Vilnius, Lithuania) – Decentralised small businesses financing platform, Debitum Network, has this morning announced adjustments to their upcoming Crowdsale, following a 6-week series of meetings with blockchain community leaders from all over the world.
The adjustments involve a reduction to the Crowsale’s initial hard-cap, a staged token sale approach, and a strong focus on delivering Stage 1 of the project.
Earlier this week Co-founder, Martins Liberts published a blog post where he commented:
“The team and I have always been open to constructive feedback, and will continue to use the voice of the community to help steer the development roadmap. After returning from my recent trip to New York, the team and I have been intensively discussing how to act on the feedback, so that we’re remaining true to our community-led principles.”
The company’s Crowdsale was initially hard-capped at 200,000 ETH (approx. $60m) – a figure calculated by the team’s seasoned CFO, Justas Šaltinis, to begin developing the platform for more than 50 countries.
The adjusted hard-cap for the entire Crowdsale will now be 50,000 ETH (approx. $15m), allowing the team to focus on Stage 1 of the roadmap and align better with current ICO market conditions. This effectively means the company will now focus on rolling the platform out to the first 15 countries on their roadmap, instead of all 50.
In further support of a staged approach to the platform roll-out, the company has also announced that it will be splitting the Crowdsale into two rounds.
Round A will be capped at 4,000 ETH, and will be a chance for early supporters to gain a 30% bonus. This will take place on Thursday 7th December at 3PM GMT – a week later than the original November date, to give potential contributors time to familiarise themselves with the announced adjustments.
Round B will be capped at 46,000 ETH, and will take place on Thursday 25th January, 2018.
“This approach supports current ICO market conditions and still gives our die-hard fans a chance to participate this year”, said Martins Liberts.
No further funds will be raised until the platform has been successfully launched in all 15 countries. Only then will the company begin raising funds for Stage 2.
The company is opening its Round A Crowdsale on 7th December, 3pm GMT and will be capped at just 4,000 ETH. Because of the buzz generated within the community so far, they expect to quickly sell out. Round B will open on 25th of January and will be hard-capped at 46,000 ETH.
“We believe that small companies must have fair opportunities to connect investors from any part of the world and then utilize their investments. We have experienced this need ourselves while developing successful IT and alternative finance businesses. We feel that now it’s time for us to share our experience and to help other companies grow. We are proudly creating a trust based instrument which provides equal growth opportunities for different size businesses,” said Liberts.
For further information, including a demo of its MVP and a white paper, visit https://debitum.network/
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