PROJECT X-GAMMA – CLOSURE
We are informing you, that after careful consideration, we have decided to stop all activities related to the X-Gamma project. We have determined that this is currently the only logical and realistic option in order to prevent possible damage to holders and keep their funds intact.
It is currently not feasible to continue the project in accordance with the initial plans, because the two fundamental conditions set at the beginning of the project - the financing and the schedule - have not been met. There was not enough funds raised to complete the project within the set deadline in order that X-Gamma project could be successfully launched and started to generate revenues in the 2018 season. The continuation of the project would pose a risk for the holders, as you could not be guaranteed the preservation of a value in the ratio of 1 : 1, as promised at the start of the project. It also seems fair to us, that the holders do not have their funds tied to a project that is idle, but have the opportunity to redirect their funds somewhere else.
More than 90% of funds were gathered in FIAT currencies and less than 10% in ETH and BTC. Funds were spend for construction. Deposits by holders will be valued in EUR and returned to the same extent as they have been invested. The means are provided by the mechanism of melting, which means that the gamma tokens are returned and destroyed.
The funds to return to the gamma token buyers will be provided by selling the
villa Rustika, and the return procedures will start seven working days after the villa has been sold. In case the villa could not be sold, the funds will be provided from other sources by 31 December 2018.
We thank you for the trust you have shown us and your understanding. We are convinced that we have proven that we are trustworthy, as we are committed to honoring our obligation of returning assets in the amount of 1 : 1 in the case of early termination of the project.
For any additional information, please contact: [email protected].
Thank you,
X-Gamma Team
We are informing you, that after careful consideration, we have decided to stop all activities related to the X-Gamma project. We have determined that this is currently the only logical and realistic option in order to prevent possible damage to holders and keep their funds intact.
It is currently not feasible to continue the project in accordance with the initial plans, because the two fundamental conditions set at the beginning of the project - the financing and the schedule - have not been met. There was not enough funds raised to complete the project within the set deadline in order that X-Gamma project could be successfully launched and started to generate revenues in the 2018 season. The continuation of the project would pose a risk for the holders, as you could not be guaranteed the preservation of a value in the ratio of 1 : 1, as promised at the start of the project. It also seems fair to us, that the holders do not have their funds tied to a project that is idle, but have the opportunity to redirect their funds somewhere else.
More than 90% of funds were gathered in FIAT currencies and less than 10% in ETH and BTC. Funds were spend for construction. Deposits by holders will be valued in EUR and returned to the same extent as they have been invested. The means are provided by the mechanism of melting, which means that the gamma tokens are returned and destroyed.
The funds to return to the gamma token buyers will be provided by selling the
villa Rustika, and the return procedures will start seven working days after the villa has been sold. In case the villa could not be sold, the funds will be provided from other sources by 31 December 2018.
We thank you for the trust you have shown us and your understanding. We are convinced that we have proven that we are trustworthy, as we are committed to honoring our obligation of returning assets in the amount of 1 : 1 in the case of early termination of the project.
For any additional information, please contact: [email protected].
Thank you,
X-Gamma Team
