Note: This article is a repost of socialmedia.market token sale update.
Yesterday we shared important news about the updates in the token economy on our social media channels. Here are the details on what to expect and why you will benefit from the changes.
During the past several months the exchange rates for ETH and BTC (the main cryptocurrencies that we are using on the platform) have been volatile. During the SocialMedia.Market pre-ICO the fluctuations of exchange rates reached almost 100%. Therefore we decided to adapt our SMT economy to meet the current state of the market.
Firstly, we are updating the Hard Cap for our project, reducing it to adjust to the current rates. Now it’s 16 000 ETH. We believe that this budget is enough to start our project.
Also the token exchange rate is being changed. Now you can buy 2500 SMTs for 1 ETH.
We made sure that these changes of the SMT prices do not affect our early bakers who contributed during the pre-ICO. We will recalculate the balances and bring them up to the new exchange rate: new SMTs will be credited to your accounts within the next few days.
“We appreciate the support of our early bakers who joined us during the pre-ICO. Therefore we decided to provide them with additional tokens based on the updated exchange rate and the current state of the market. The SMTs will be credited based on the 1 = 3,75 ratio. For example, if a user bought 1000 tokens, after the update they will convert to 3750 SMTs”, — shared Dmitry Shyshov, the CEO and founder of SocialMedia.Market.
You can see your balance of tokens in your personal account. Follow the link to check it: https://ico.socialmedia.market.
We are also extending our main ICO. We want our contributors to have less restrictions in the time frame. The second phase will start on February 9 and will end on March 16, 2018.
We hope that this time frame will be enough to make sure that you are not limited by any restrictions and can explore the opportunity and join the project.
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