So ico was extended, what a untrustworthy greedy move from the team
It was absolutely not done out of greed. We understand the resentment but the fact was creating 10,000 individualized wallets for our users security was just overbearing on the ETH api (btc was fine). We couldn't of planned for it and have been facing it's affects for the past three days (and still going). Just re-posting email out of clarification.
It is our pleasure to announce the extension of our ICO period by one week. The new ending time is as follows:
Saturday, August 26th 3:00AM GMT
Why did we decide to extend the ICO?
When we initially started the Presale/ICO we intended for a total period of 5 weeks, 4 weeks presale and 1 week ICO, where we would ramp up efforts on all ends. During that period we took an extra step to ensure the security and privacy of our registrant's funds, by implementing uniquely created contribution addresses. However, with that implementation came a slew of issues. As it turns out the Ethereum explorer API had many issues keeping up with our quickly increasing wallet count, as well as their very own ongoing network issues and load. As such we ran into bugs that included; inability to login, inaccurate reporting of ODN both as a whole and individually, the need to shut down many of our ads (due to traffic slowdown) and more. The system we added to protect our users in turn was also the system that caused hardship on the frontend. The good news is your contributions and ODN holdings are 100% secure and our backend is readily protected at all times. In fact, and I kid you not, the keys to those wallets were brought from overseas, by hand, to the UK where they now reside in an untouchable safe. We are that serious about security.
A wise man once told us that if you have a product you believe in, that your best bet is not rushing it and compromising it's structure and integrity. Thus we are going to use this time to implement a work around of current API issues, while working on QT/Testnet in tandem, and making sure the final days of the ICO go smoothly and lead to a clean and professional release. Furthermore this extra time gives us some room to keep building our community, whose growth has been nothing short of amazing lately. Lastly, just to reiterate, we are not changing any other terms and we will be burning (or not creating) any unsold coins at the end of the ICO.
While our app may be about privacy I hope our contributors now have a good idea of the team they are backing. We are an open book. We're always active and we'll continue to be so through the entirety of the project. We welcome you all to continue to communicate with us on a daily basis and be involved in the future of the Obsidian Platform.
A huge thank you to everyone thus far and we hope you all understand our decision. We truly look forward to continuing down the road we are already on with all of you.
- The Obsidian Team
