Postponing the Aventus Token Sale
July 18, 2017
Hi Aventus community,
It is with great regret that the Aventus team has decided to postpone our token sale set to launch on July 19th, 2017. Given the current landscape of ETH price and investor sentiment, the Aventus team has come to the difficult conclusion that we will wait until late August.
In the past several weeks Ether has lost nearly 70% of it’s value from it’s high of $400.00 leading to large sell-offs and causing investors and crypto-enthusiasts alike to take a more cautious approach to token sales and the cryptocurrency space as a whole.
Our view on the market
There were a number of underlying factors that led to this crash that were, unfortunately, unavoidable:
- Successful token sales such as Tezos, EOS, and TenX exchanging large amounts of ETH for fiat to cover operating costs.
- A broader sell-off in global cryptocurrency markets including Bitcoin and Litecoin attributed at least in part to Bitcoin scaling discussions.
- Increased scrutiny and speculation regarding an overall cryptocurrency bubble.
- Expected market correction from the extraordinary growth rates exhibited in recent months.
- Scams and Hacks leading to millions of dollars being stolen, most recently the CoinDash hack.
Our various corporate partners across the globe have all echoed the fact that sentiment is very low at the moment, and that it is not an opportune time to have a token sale.
Our Plan moving Forward
Rather than launch our token sale at this stage, we will finance ourselves internally and now focus on product development and closing trial partners prior to launching our token sale. We will continue to update and grow our community as things develop and as the markets recover. Some things to come:
- Trial announcements for later this year
- Some technical blog posts about incentives in the Aventus protocol
- More trial and partnership announcements
- Case studies of Aventus protocol usage
- Interviews/features in big publications
- Videos of our presentations at the Ethereum London meet-up and Coinscrum.
We offer our sincerest apologies for the delay in the sale and hope that the community at large will understand and continue to support the Aventus team as we bring our solution to the event ticketing industry. In order to stay up-to-date as we develop the Aventus system please follow us on Twitter, join our Slack Channel, or join our mailing list.