We are living in very dynamic times, and we are always striving to quickly adapt to the ever changing cryptoworld environment. After listening to our community and consulting with our advisors, we have decided to restructure our ICO by extending the token sale to April 9th, 2018 and by making important changes to the token distribution, which will benefit the project in the short and long term. Please continue reading for the announcements.
1- EXTENSION OF ICO
We have decided to extend our ICO deadline from March 13 to April 9, 2018. Our ICO period is still well in line with the average of recent duration of ICOs, which varies from 2 months up to 4 months.
We understand the decision to extend the ICO is a serious one, which is why we have consulted our advisors, debated this internally, researched the effects of other ICO extensions (which have been very common recently), and believe this is the correct decision for the Crafty project and its long term success, as it will deliver the best long-term value to our users and community.
Nonetheless, as a way to recognize our early supporters and token holders we have restructured our bonus scale in a way to reward them.
Therefore, effective today, February 28 at 18h00 UTC any and all token holders who acquired CFTY tokens prior to the date and time of this announcement, will receive a special bonus of up to 25%!
2- ICO BONUS SCALE
Effective today until March 11, 2018 all participants in our ICO will receive a bonus of 15% to their contribution. Please check our detailed bonus scale in the table below.
3- DISTRIBUTION OF TOKENS
As a way of showing the team’s commitment to the success of the project and to our community, as part of our ICO restructuring, we have made 2 very important changes to our token distribution, which we are confident will only increase our project's strength.
In the event our ICO hard cap is not reached, any undistributed tokens will be burned. We will no longer move undistributed tokens to a reserve fund.
The team and advisors will no longer have access to their tokens in its totality after 6 months. We have modified the distribution of the tokens in the following way:
A - Founders and team will have a lockup period of 1 year to their Crafty tokens. Once the lockup period is over, they will receive equal installments of 10% of their tokens each month, for 10 consecutive months.
B - Advisors will have a lockup period of 1 year to their Crafty tokens. Once the lockup period is over, they will receive equal installments of 10% of their tokens each month, for 5 consecutive months and on the 6th month they will receive the last installment of 50%.
We want to assure our community that whenever there is a need for tough decisions to be made, the team will rise to the challenge to make sure the Crafty token will reach its optimal potential.
Once more we thank our community for the continuous support! Let’s keep crafting something big together!
Crafty Team
