Wemark’s Token Sale Summary — Everything you need to know

We’re excited to announce the final data of our sale and mark the official end of Wemark’s token generation event. Although we canceled our public sale, we raised 233% of the soft cap. We’re now laser-focused on launching our marketplace and kickstarting the economy.

In case you missed it — here’s a recap of the past few months:

We released Wemark’s whitepaper in April, kicking off an inspiring journey.

While we originally planned to end the TGE with two rounds of deposits and an open public sale, we made the tough decision to cancel the public event. The number of contributors and whitelist requests on both of the deposits’ rounds has left us incapable of completing all the required measures for complying with the evolving regulation.

At that stage, we already reached the soft-cap target of 3,250 ETH, and decided to cancel the sale (and lose potential contributions), removing the risk of unverified or unlawful contributions, which, with the absence of a rigorous manual process, we could not prevent.

Deposits came in between July and early August and many contributors were required to provide more information about themselves or the source of their funds, in addition to the basic KYC application. To keep the process as clean as possible, we’ve taken extreme measures to comply with regulation and anti-money laundering (AML) instructions. Furthermore, citizens of 11 countries weren’t allowed to participate in the sale, including major markets such as China and the US.