Photo by G. Crescoli on Unsplash

ICO Main Sale Launch Delay

Announcement: Tim Bos, CEO and co-founder of ShareRing advises positive changes to token sale:

· Previously scheduled to launch May 7, 2018, the sale has been rescheduled to Monday, June 4th, 2018.

· The main sale offering will be reduced from 20 million to 10 million.

These changes, made with advice from ShareRing’s expert group of advisors, arise from a range of factors.

Industry Factors

· Ethereum market state: Many people are holding onto Ethereum as the bear market ends and the price continues to rise. It makes better business sense not to sell while Ehtherum is on a bull run and people are reluctant to sell it in favour of alt-coins and ICO’s. ShareRing believes that this will change in late May/early June when people will start to move into ICO’s with gusto!

· ShareRing Consensus presence: ShareRing has accepted the opportunity to host a very large event at Consensus 2018 in New York [LINK to https://www.coindesk.com/events/consensus-2018/]. Due to the premium quality of this event they wish to position the ICO launch date as a post-event activity.

· Pending Fund Contracts: ShareRing is attending roadshows in Asia over coming weeks. During the time of the roadshows and Consensus event, the company will meet with a number of funds who have requested to collaborate with ShareRing. Time is needed to secure these significant deals.

Blockchain Factors

· Smart Contract Audit Extension: New vulnerabilities were found in smart contracts which required extending the Smart Contract audit to be diligently completed later than originally anticipated. A second round of auditing has been completed, and ShareRing is awaiting confirmation from auditors of the positive outcome.

· New KYC Service Provider: ShareRing sought a premium provider that could match their requirements in following good anti-money laundering procedures. In changing provider, more time is needed in order to achieve optimal KYC regulatory compliance.

Stakeholder Benefits

· Reduced circulation: A main sale offering of 10 million rather than 20 creates a reduction in circulation which benefits existing stakeholders and those joining the main sale.

· Tokens become choice of currency for investing in startups: The company will hold the extra tokens (and any unsold tokens) specifically to invest directly in future startups. ShareRing believes this will increase overall efficiency as well as better integrate and strengthen each startup’s role in the ecosystem. It is also anticipated this will increase the demand for tokens as startups utilize tokens in joining the network.

The lower number of tokens will make it more difficult to join the main sale, so it is recommended to complete the KYC process and whitelist as soon as possible.

ShareRing will host 2 x 20 minute AMA’s with Tim Bos, (the first one on May 9th at 12am UTC and the 2nd on May 9th at 11am UTC) to answer questions and clarify this information. Tim will also have some exciting information about our upcoming Asia roadshow as well as our events during Consensus in New York.