ANNOUNCING MATERIAL CHANGES TO THE IGNITE CROWDSALE

Ignite’s pre-sale will run from Friday 15 December, 18.00 GMT, until the same time on Friday 22 December. The main crowdsale will commence on Monday 15 January 2018, 18.00 GMT and run until the same time on 28 February 2018, or until the crowdsale cap is reached, whichever is sooner.

The Ignite pre-sale is designed to raise awareness for the project and offer an incentive for larger contributors to join the sale.

Due to recent increases in the price of Ethereum, we have been fielding a lot of questions regarding how much, exactly, we are seeking to raise. For this reason, we have decided to revisit our crowdsale caps.

Originally, we were looking to place 20,000,000 IGNT tokens into circulation at a crowdsale price of 150 IGNT per 1 ETH. At the time that we set this pricing, this would have equated to a raise of circa $17m (of which 60% would be set aside to seed the Ignite INDEX), assuming the maximum number of discounted tokens were sold during all private placement and pre-sale phases. However, the current value of Ethereum (circa $700 per ETH) has pushed our cap values to completely unnecessary levels. So we decided to rethink things…

We are reducing the initial supply of IGNT to 10,000,000 tokens only (while maintaining the price as it is), with 25% reserved for staff and partner incentives and a further 2% reserved for bounty programmes. This leaves a total of 7,300,000 IGNT available to the public at large. Of this, Ignite’s early fundraising efforts have led to distributions to contributors in excess of 4,000,000 IGNT tokens and secured significant funding for the operations of the business.

25% of the remaining IGNT tokens will be made available during the pre-sale, with the remainder (including anything unsold in the pre-sale) being made available during the crowdsale.

Although it is difficult to know exactly how much ETH we might ultimately raise due to the different discounts available during the presale, and to then express that as a cap, we have a soft funding target of 20,000 ETH in total, and would not anticipate raising significantly more than 30,000 ETH.

What if ETH should continue to grow in value?

Assuming its cap is reached, Ignite has elected to draw a MAXIMUM of $7m (USD) in total operational funding from the proceeds of the crowdsale, regardless of whether 40% of the raise in ETH may be worth considerably more over time. All additional proceeds will be added to the deployable capital base of the Ignite INDEX. We will only convert ETH to fiat, as needed, to cover the day to day operational costs of the business and the ongoing development of the IGNT platform, thus ensuring that any continued increase in the value of ETH adds as much value to the Ignite INDEX as possible. We feel that this is a great solution for all contributors to date and, hopefully, the many that are yet to come.

We would like to take this time to, once again, thank all those that have supported us and that have helped us get to this point. In particular, our early supporters who helped find the much-needed funds which allowed us to take the first steps on this path. Special thanks must go out to all the Ignite project’s advisors who have believed in the Ignite project as passionately as we, its founding team, have; and to those who have kept us smiling as we worked, and continue to work, 24/7 to build something truly special that we know will rock the worlds of both crypto and traditional finance.



No going back now — the pre-sale starts tomorrow!