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Hedera Hashgraph successfully closes token sale as it reaches hardcap

Hedera Hashgraph, a distributed public ledger that enables anyone to easily develop globally decentralized applications confirmed that its token sale announced at the beginning of the month has ended, with the hard cap of $20 million now reached.

On Tuesday, 14 August 2018, Mance Harmon, Co-Founder and CEO of Hedera, provided an update on the Hedera accredited crowdsale.

The full transcript and video of the interview are below and include some interesting statistics from the crowdsale worth reviewing.

Transcript

Hi, this is Mance Harmon, CEO of Hedera Hashgraph. As promised, we want to continue to give you communications about the crowdsale by video, so it’s easy to confirm these updates are coming from Hedera.

We have officially closed our crowdsale. We will not be accepting any new applications, and the crowdsale registration page has been removed from our website. Please do not fall for any scams pretending to still be collecting funds from Hedera.

Anyone who has already registered and is currently going through the investor identity and accreditation verification process will be able to proceed, provided they complete the process by August 18th.

To our supporters in China, Russia, Japan, Malaysia, Vietnam, and other countries where we were prohibited from taking investments, we do appreciate your support. We look for ways to continue to get you involved with Hedera.

Now, I would like to provide a few preliminary metrics from our sale:

  • Roughly 6,000 people registered for the crowdsale, indicating strong community interest in the project
  • Of those that registered, approximately 13% passed accreditation, and a large majority of those who qualified did invest
  • We recognize the process was challenging for many people. However, we felt it was very important to strictly follow the governing laws and the recommendations of our legal counsel
  • Even so, as of this recording, made the morning of August 14th, we are closing in on the $20 million cap
  • As noted earlier, we will continue to process those that registered but haven’t yet completed accreditation through the 18th. At that point, any remaining amount not sold in the crowdsale will be added to the $25 million dollars of tokens already allocated for the community. Your help in testing, utilizing and building on the network will be incredibly valuable to us, and we believe you should be rewarded for that

For those who have participated in the sale, a few notes:

  • The token generation event will happen on August 19th. At that point, the full 50 billion tokens will be generated and placed in the Hedera wallet
  • If you have invested, you will receive your tokens according to the distribution schedule you selected during the investment process

Thank you for all of your support. We are excited at the milestones ahead for Hedera and look forward to keeping you updated on our progress as we announce council members and roll out dapps on the network.

Video

Source:Hedera Hashgraph

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