Announcement and updates: ICO extension and developments
Dear GES Community:
Let me share the reasons for this and hopefully it makes good sense to you:
1. Market conditions
Well, I guess any crypto community member could see how bad the market is right now. For sure, the market sentiment impacts greatly on all ICO performances, not just GES. Many projects are seeking for extensions as well, and at least a few counterparts have told us that.
2. Major campaigns
GES has a current major campaign which just got confirmed. We will be featured on Reuters.com. We will also likely to be featured on one major news channel, which is currently in discussion. Hence we need some time to have all these gone thru.
3. GES has submitted Exchange Listing application
some sizeable, well known exchanges and would like to be able to confirm and announce the names within period to our community.
4. GES has been in discussion with some private funds
and also the Big Four firms which could endorse us for private equity deals. Also needing time here.
5. GES will need some time to participate in roadshows, specifically the ones in Japan and Australia.
6. We have launched our Technical White Paper and would like to give enough time for our community to view it, and at the same time, keep improving it.
7. Mistakes that we made and the market dynamics.
Well, one of the biggest mistakes that we made for our ICO campaign was not having the private placement rounds. We had the impression that ICO should be for the public and crowd, little do we know that the market dynamics had changed and most ICOs do a large private placement rounds then a small crowdsale.
We were also ‘betrayed’ by our whitelist (or rather, ‘betrayed’ by our own naivety) as we had a minimum and maximum pledge of 16,000 and 90,000 ETH, and that is after removing all dubious entries.
As such, recently we started to do more private deals, and we end up being able to close a few deals worth a few millions (some are yet to be reflected on our progress). However, as they are traditional deals, we need to prepare the legal documents, which is another reason we need extra time.
While during the extension period, we will put our focus our private deals, we will not neglect our crowd sales and community. With these, the GES team like to seek the understanding and continued support on this extension to 15th of April 1200 UTC.
Thank you yet again.
● Web: www.galaxy-esolutions.com
● Technical White Paper: Read Here
● Medium: medium.com/@GalaxyeSolution
● Facebook: facebook.com/Galaxy-e-Solutions-1244602885645627
● Twitter: twitter.com/Galaxye_eSol
● Email: [email protected]