The Tierion tokes sale sets a new high-bar for ease-of-use.

Token sales are broken. Today, Tierion is announcing a token sale system that sets a new standard for ease-of-use and industry best practices. We worked with the team at Element Group to solve many of the most frustrating problems with past token sales. The result is a system that surpasses the already high standard set by Civic with their recent token sale.

Why are token sales so frustrating?

Let’s start by looking at a typical buyer’s user experience. Buyers sign up to receive information and begin researching the project. Some participate in a presale. In exchange for a guaranteed slot, they must pay up to two weeks in advance. This makes buyers anxious as they watch the price of Bitcoin and Ethereum move prior to the sale date.

On the morning of the sale, the seller posts a BTC or ETH address. Many of the tokens have already been sold, and everyone rushes to purchase what remains. The sale reaches its cap within minutes. Buyers that didn’t get into the sale now have Bitcoin and Ethereum locked up for weeks while the seller issues refunds.

This is a terrible user experience.

The process is equally frustrating for the sellers. The presale is primarily managed via email. A wallet must be manually generated for each buyer. Purchases are tracked in spreadsheets. This cumbersome process is the primary reason for long presale periods.

On the day of the sale, sellers are inundated with emails from frustrated buyers. Transactions continue to be posted to the sale addresses long after the cap is reached. Purchases are manually reconciled and processing refunds can take weeks. A tired admin worker is one “fat-finger” moment away from losing your Bitcoin forever.

This madness must stop.