The Vestarin team has reviewed the market and has concluded that it is best to reduce the HardCap. The reasons for this will be explained. This article will have all questions and its answers making it easy for our investors to understand. Let us inform you that the 1 ETH is still = 3000 VST
Let us inform you that the 1 ETH is still = 3000 VST
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Why have we reduced the HardCap?
We produced our RoadMap when ETH had cost $300–350. As of September 2017, 100 000 ETH was equivalent to $30–35 000 000. This amount was an estimate of the project, as well as the plan for development of the final product.
Why now?
Cryptocurrencies market has a very high volatility. Dynamics of the cryptocurrency and, in particular the ETH have there ups and downs in the trend. The course was unstable for a while but for the last 2 months the amplitude of the coursework has decreased.
We can say that the course is not very predictable. Therefore we accept the present course of its level as its basis, and proceeds with new realities to recalculate the budget to reach the same amount of $ to the current course of ETH.
The problem with our hesitation is that the reduce of HardCap can be easy (i.e. to collect less), but it’s a problem to increase it again. This is our reason for a precautionary approach to this subject.
How this will affect the development of the project?
If the current rate of ETH is stable then there will be risks on the project. Even on the contrary — we act with honesty, reducing the HardCap sum according to the realities of the market. At the same time, a majority of other projects don’t apply with the same rules, seeking to collect not only the certain sum, but as much as they can. In other words, just mislead the participants of the token sales.
We have a purpose, a clear budget, and RoadMap. We do not seek to profit from the community, that is why we are reducing the HardCap. The Vestarin team is convinced that this approach will enhance our incredibility and find an understanding from all those who are interested in our project. Our attitude to business is responsible and deliberated.
Why are we so sure about this? Because SoftCap has been raised much earlier — in less than a week. Thus, we are already ahead of schedule. The community has supported us, so therefore we will be honest with our investors.
In the same context, we remind you that all unsold tokens will be destroyed after the token sales. Nothing has changed: the team do not dispatch to third parties, giving no opportunity to handle a token.
We have the product demo version, and Soft Cap is completed, we are confident that our product will be released in time, for the best benefits for investors, participants of our team and the whole crypto community.