Dear GAMB Community,
Your feedback and current market conditions have prompted us to conduct some research into the current ICO landscape. The conclusions of that have triggered a reevaluation of our initial hard cap.
In 2018, most ICOs that have gone to market after raising $20M+ have consistently underperformed. Projects with less funding have been increasingly more successful as they have been able to grow organically and without market pressure.
In hindsight, we should have opted for an ETH-based contribution model, instead of our current USD-based raise, to counter the continuous high volatility of Ethereum (from a $1,000+ high to a $225 low).
As a result, we have been actively searching for solutions that would allow us to adjust our hard cap without sacrificing the original vision of becoming a self-governed and decentralized ecosystem for e-commerce.
We have spent a considerable amount of time modeling around our company token allocations and making use of our future predictions for ETH. By shifting around how we allocate tokens internally, we are confident that we can decrease the GAMB hard cap to just $15M, which adjusts it by 50%.
This change will come hand-in-hand with a reduction of the token price (also by 50%) to 0.0001 ETH (previously 0.0002 ETH). This will have an immediate positive effect on all contributors — doubling everybody’s tokens.
Example:
If you previously purchased 1 ETH of GAMB tokens, before this announcement you would have received 5,750 GMB (5,000 GMB + 750 GMB bonus at 15%). After this announcement, you now have 11,500 GMB (10,000 base + 1,500 GMB bonus at 15%).
We are confident on a market recovery and we expect both ETH and our GAMB Token reserve to grow substantially in the future, allowing us to fund all operations. Additionally, with this change, the GAMB ICO is now almost sold out!
Dr. Felix Hoetzinger, CEO of Gambio Services AG and Advisor for GAMB, also stated that: “Gambio continues to be beyond excited and proud to support the decentralization of power for merchants and customers around the world. Based in Germany, we are confident that Gambio and GAMB will do great things in the future.”.
We would also like to reinforce that GAMBs soft cap of $5 Million has been reached and the project’s future is guaranteed. Development has already started and we are thrilled to be on this journey with all of you.
— GAMB Team
GAMB is a self-governed and decentralized ecosystem for e-commerce, driven by smart contracts, enhanced by open source development and empowered by the first Global Alliance of Merchants on the Blockchain. This revolutionary concept is supported by GAMBIO — the #1 e-commerce software provider in Germany.
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