Credits ICO Update – Pre-ICO Cap Raised Ahead of Schedule
ICO Update for CREDITS approved for posting by Grace Whatts.
Successful Pre-ICO Completion
The CREDITS ICO platform has successfully completed pre-ICO, collecting $ 3 million investments 4 days before the official end date.
We express our great gratitude to all those who showed interest in our project and we will do our best to fully justify the trust you have shown.
Early closing of pre-ICO clearly showed that the project is appealing to people from all over the world. Alas, our tokens have not been caught by all persons interested!
“We have collected enough funds to actively develop the CREDITS platform according to the roadmap of the project.
We apologize to all those who did not have time to participate in the pre-ICO: we were forced to close it as we have reached the hard cap.
In the nearest plans, we have the ICO in February 2018. The acceptable fundraising limit of 20 million dollars is a reasonable sum for the realization of such a large-scale project. ” – said CEO Igor Chugunov.
What is the Credits Project – ICO Project & Goals
CREDITS is an open blockchain platform with standalone smart contracts and internal cryptocurrency.
The platform is designed to create services within the blockchain using smart contracts and a public-data register.
The project team expresses great appreciation to all those who have shown interest in the CREDITS platform and reminds about the upcoming ICO.
The Alpha version of the platform will be launched very soon, therefore it was decided to postpone the ICO date to February 1, 2018 so that everyone interested can test the platform and see how it works.
ICO Key Dates –
ICO dates: February 1st – February 28th, 2018
Total number of issued tokens – 1 000 000 000
Exchange rate of a token – 1 ETH = 5000 CS (CREDITS)
Contribution Cryptos Accepted: Bitcoin or Ether
To increase the investor’s confidence, we use escrow. Escrow is a way to block funds collected by ICOs from third parties (investors) until certain conditions arise.
The team will not be able to spend the cryptocurrencies collected during the ICO before the promises to develop the alpha version and release of the full version of the platform are done.
Due to the heightened interest on the part of contributions and Crypto community, it was decided to conduct a preliminary Whitelist registration.
The contributions will need to undergo a standard KYC (know your customer) procedure in order to comply with the international rules on combating crime and money laundering. Any person wishing to contribute more than 10 ETH in the project will be required to pass this procedure.
During the ICO, the company plans to sell tokens worth of $ 15-20 million.
In the first half of the year, the company will be able to use only 50% of the collected funds, but no more than 7-10 million dollars for the development of the platform.
The remaining funds will be unlocked after the launch of the Alpha version and the release of the platform.
ICO Project Funding Calculations –
According to the calculations of the project budget, the company will need 15-20 million dollars for the first year of operations, development and promotion of the platform.
For the next 2-5 years, the team will gradually sell tokens as needed in small quantities, so it doesn’t provoke a fall in prices.
This ICO model and the financial development of the project will allow us to quickly start the creation and development / financing of the project from the number of tokens remaining for operational activities (operational tokens).
Igor Chugunov – Founder of the CREDITS platform
“I, as the founder of the CREDITS platform, am proud that we were able to enlist the support of experts and investors in the industry’s blockchain.
This shows that our project has every chance to become a new stage of development and the next stage of the widespread introduction of blockchain technologies into the daily lives of millions of people.
Our project has ambitious plans, we have assembled an excellent team of professionals who live in the idea of creating and developing a CREDITS blockchain-platform. “