ICO updates - Week 2
I have decided to update the softcap to $200,000. This would allow for $100,000 in daily trade volume if half the circulating supply of tokens is actively traded.
Realistically, UNSK token cannot succeed in becoming the ideal asset for day traders without a listing on coinmarketcap. This requires $100,000 in daily trade volume. It is more likely that only 10% of token holders will actively trade right away so the fundraising goal is still $1M (3,500,000 XLM). I will keep developing UNSK for the next 5 months but cannot guarantee continued development after ICO if we are unable to sell over $100,000 worth of tokens. If the UNSK market cap is under $200,000 it will likely require too much additional time and energy to continue building enough interest in trading the token to achieve $100,000 in daily trade volume.
If the softcap is not reached by 1/1/19 either the company tokens will be permanently transferred back to the issuing account and development will be abandoned or the ICO end date will be extended. The buyback will remain in perpetuity.
I have transferred the maximum company half of UNSK tokens (105,000,000 UNSK) out of the distribution account to prevent an accidental sale of too many tokens. This account will become an escrow account ASAP.
I am actively seeking a Stellar Smart Contract (SSC) developer to help make the ICO specifications immutable and begin creating the HODL wallet. I have been in email discussions with 2 potential devs for over a month and am becoming impatient. I plan to reach out to some public developer communities later today.
I intend to submit The Unsinkable Project to the Stellar build challenge by 7/25/18. I would like to have the white paper peer reviewed before then. Ideally some of the SSC will be implemented by then too.
As promised I have been checking the distribution daily to update the buyback offer.
Currently the only investor for PICOUNSK is myself, and no one has invested in UNSK. This makes sense because I have performed extremely minimal marketing/announcements. Only tagless posts on reddit and twitter with new accounts. I would like to achieve minimum SSC functionality before making a serious marketing push.