At 23.59.59 GMT on the 14th of October 2017 the Kexcoin ICO closed on schedule.
In the 30 day period that the ICO was running we raised a total of:
- 193.57 BTC or $1.1m.
- We sold a total of 76,963 Kexcoins.
Our minimum fundraising goal was $5m. This was the minimum amount of money we would need in order for the project to be profitable and therefore viable.
With a bit of simple math you can see that we missed our minimum fundraising target and thus the project cannot go ahead. So the Kexcoin project is hereby cancelled.
We will now be refunding all participants in the ICO by buying back Kexcoins for the same price we sold them for which was 0.0025 BTC per Kexcoin.
While the Kexcoin project is not going ahead, many participants have made a huge profit purely by the fact that they tied up their Bitcoin’s for up to 30 days, during which time Bitcoin soared in price to $6,000.
So while on the one hand the project is not going ahead, many people are happy that they have still managed to make a profit by default :)
We have written a step by step guide on how to sell your Kexcoin and get your Bitcoin back at the following link.
Click here to access the step by step guide on how to sell your Kexcoin and get a refund
If you haven’t done so already, please go through that process to receive a refund for the Bitcoin you pledged during the ICO.
Once we have completed the refund process for all participants the Kexcoin project will be complete and will officially come to an end.
We have no immediate plans to restart the project.
If you have any questions please post them in the official Kexcoin chat group here:
https://t.me/joinchat/CHwvZEHIZ2FIfDHhm6UAdQ
it was simple enough on the exchange, but thank you for the guide. Really considerate of you and it certainly should help pass the grandma test
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Is there going to be another try at this ?
Also curious about why you guys think the crowdfunding failed to raise the right amount of money.
In my mind a am thinking that monaco card ico and wagerr where both organised with a better model of defining urgency of investment in mind, maybe there are some points to learn from their success and your failure to raise the funds at the moment.. maybe the timining with other real estate tokens being released ?
what are your thoughts ?
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We have no plans to relaunch. There are many possible ways we could have done this better but of course that has only come as the result of direct experience.
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I bought KEX on Bitshares a few days after the closure of the ICO.
Can I change them for BTC or are they lost?
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You should have used Eth for the ICO the money raised at the moment is the highest.
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Honesty, appreciate that!
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IT was terrible timing with all the fud(CHina, Jamie Dimon) taking place at the height of this ICO- No one was paying attention or looking to invest in an ICO during this period.
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This was a great project and very promising. Too bad it didn't catch the hype that it deserved.
~= moxie =~
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I appreciated the straightforward and 1:1 explanation of how Kexcoi was to operate. I considered it in my top 10 coins to invest. Unfortunately the fire was completely taken away from this ICO and not because of bad merit! If you consider redoing this ICO, please send me a message!
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