I am disappointed on how they ran their ICO.
- Pausing the ICO when only 5 days left - it is not even discussed that there will be another ICO
- Now they locked the tokens probably till 2019, its hard for me to look at my frozen $8000 money
I am starting to doubt on how they manage things
Hi, thanks for reaching out. I wanted to clarify a few of the points you raised in more detail.
Firstly, it is important to note that every decision we make regarding Verasity is always done in a way to balance both the long-term and short-term needs of the company, our token holders, and our users.
The sale is currently paused due to market conditions where the value of BTC and ETH has dropped substantially since the start of our sale. This has slowed the Verasity sale, as well as many other top-tier ICO’s we have been following. Investors wanting to back Verasity are out of the market until conditions improve. You can read the full details of why we paused here:
https://medium.com/verasity/update-on-the-verasity-token-sale-64c750ee81fbAlthough the sale is paused, our team are working hard and continuing the development and delivery of our roadmap. As we have reached our softcap, we are able to continue this development.
Regarding the token lock until Q1, this was again a difficult decision to make and we appreciate the patience and support of our token holders here. Due to the sale pause, we have had to delay our exchange listings. Despite this, we are committed to distributing purchased tokens on time. This is why we provided the ability for those who purchased VRA to get their tokens on time.
While we have distributed tokens, it was important to make sure that risks such as a secondary market forming were mitigated. Therefore, the distributed VRA will not be tradable until either VRA is live on the exchanges, or we launch our platform. Whichever of these events happens first will trigger the enablement of VRA tokens in wallets.
You can read a detailed post about why VRA is not currently tradable here:
https://medium.com/verasity/heres-why-vra-tokens-aren-t-tradable-right-now-b8feab42573aThank you as always for your patience and understanding. The crypto-markets don’t always follow rhyme or reason but all the decisions we make are considered and for the benefit of the community and the future of Verasity as a whole.