We have taken the difficult decision to delay our ICO until a future date, which we will announce in due course. This is primarily due to wider interest we have received from markets like the US where we are not currently allowing contributions from, due to the country’s recently announced regulations.
We’re taking the extra time to reconsider how to open up the ICO to as many countries as possible, including the US and will update you soon with a new launch date and process for the pre-sale.
We truly believe in the ICO model, we believe in community driven token ownership where consumers, marketers, and shareholders merge into one is a great model for public internet platforms to grow inclusively. We have previously blogged about our thoughts on a new corporate structure for more inclusive businesses and will continue to build a business on this model.
This is what we will be doing before we re-launch our ICO pre-sale
- Get a solid legal opinion and approval on our Shell tokens not being a security, in countries like the US so they can be offered to a wider audience
- Set up our ICO to follow all regulatory guidelines that currently exist and any future regulations that may come into being before we re-launch the pre-sale
- We will continue to build and add features to our app as per our public roadmap and grow the user base of the app
If you have already registered for the pre-sale, there’s nothing you need to do, your registration will still be valid when the pre-sale launches in the future. We will keep you updated as to when that is
We thank you for your understanding and will happily answer any of your questions on our social channels or at support@coveidentity.com