qiibee Seed Round Update
An update from the qiibee Team on the Seed Round. As some of you may know, the purpose of the USD 5mil seed funding is two fold:
1) to give us the ammo we need to launch the platform, Devkit and real pilot applications before running the crowd sale
2) provide the team with the runway for the next 12 months for R&D, business development, marketing, and operations
When we first calculated all these costs, ETH was $400, resulting in a ETH 12,500 goal. Since then, ETH has skyrocketed in value, meaning our ETH target far outweighs our funding needs. From day one, qiibee has stressed the importance of community, fair business practice and transparency. As such, we feel it is only right that we adjust our ETH assumptions to USD 1,000/ETH. This means we will be selling a maximum of 100mil QBX tokens (5,000 ETH) in the seed round. Despite the recent downtrend, we are confident that ETH will increase again, and that this new structure enables our contributors to benefit from a lower cap while letting qiibee optimize the fund raise.
qiibee will approach the crowd sale with a similar set of principles. In the days leading up to the actual sale, we will adjust the target cap based on the prevailing ETH price. We do not want to raise more than what’s needed for a successful future of the qiibee ecosystem. Finally, we want to reiterate that 51% of all QBX ever minted will be sold during the seed round and crowd sale.
We are currently in the final stage of signing major retailers to start integrating their loyalty programs on our platform. Furthermore we are focusing on finalizing the due diligence process of the 50% pre commitments which will be paid in FIAT, and processing over 100 contribution requests.
Visit https://tokensale.qiibee.com/sale to see all the newest information and/or start your registration process!
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Disclaimer: All the information in this article are for informational purposes only and do not constitute legal, accounting, or investment advice of any kind. This article does not represent a solicitation for investment, nor does it represent an offering or sale, public or private, of any kind of financial instrument, security or otherwise, in any jurisdiction.