As our operations continue to move forward we wanted to share another update with you. We are moving towards a more long-term focused finance management strategy.
As with all businesses, finance management is an important topic and as strong believers in self-regulated transparent ICOs we want to openly share this information. A best-followed practice for any business is to not have assets depreciating in value due to inflation or other economic influencers. The reason for this is that all companies want as stable of a business runway as possible. This creates safety for the business, staff, shareholders, investors, partners, community, and the markets.
As we have mentioned during our crowdsale as well as in our whitepaper the contributions raised during crowdsale will be transferred into fiat.
Our finance team has developed a strategic approach to our ETH asset management. The main reason for the need to take actions right now is to offset the current negative trends happening in the market
“We believe it’s worse for Debitum Network project to see ETH price sharply drop decreasing collected funds value from 10M to 3M USD, rather than not seeing collected funds raise in value from 10M to 20M USD due to ETH price increase.” February 19, 2018
as well as to sustain our operations. Our product and business development operations require fiat transactions in the day to day business – hiring costs, office expansion, IT infrastructure, hardware, etc.
Some of the fiat will be transferred to our company bank accounts to be used for operating expenses, the leftover amounts will be held in exchanges to enable our finance team to take advantages of ETH price positive movement.
If you are interested to know more about this reach us at [email protected]