Notice Regarding Postponement or Cancellation of IEO scheduled to be implemented on the IDCM Exchange on September 30, 2019 and our further plans
September 29, 2019
Dear all those who warmly support the QURAS project,
Thank you for your continued support of the QURAS project (hereinafter referred to as “this project”). We QURAS project team would like to thank you all for your warm support.
Currently, QURAS Project Team (hereinafter referred to as “Project Team”) is working on further strengthening its governance system at the same time as development since the project has reached a certain level.
As the title above, here is the official announcement from the project team on IEO:
[Notice regarding postponement or cancellation of IEO and further plans]
QURAS IEO was scheduled to be held at the IDCM Exchange (Hong Kong S.A.R) on September 30, 2019. However, due to the sharp drop in the price of Bitcoin, BTC / ETH-denominated IEO prices are likely to fall below private sale prices.
This means if we carry out the IEO scheduled for September 30 to October 31 based on today’s Bitcoin price level, investors participating in IEO will be able to purchase QURAS tokens at the “IEO price <private sale price”.
In other words, investors who have purchased at private sale prices will end up purchasing higher than the IEO price, resulting in inequality in the purchase price. This is never desirable from a market fairness perspective.
Therefore, here we notice that the project team has officially decided to postpone or discontinue the IEO from the perspective of investor protection.
We are sorry for the inconvenience of all those who have been waiting for the purchase of QURAS tokens by implementing IEO on the IDCM Exchange, but kindly understanding our will and policy.
We do have a plan to list QURAS coin on Bithumb, and the date is set to October 3rd, 2019, to allow the users to trade QURAS coin.
Update information on the above will be announced later on the official website.
The QURAS project is proud of being the first project in the world to distribute transaction fees to projects and protect the privacy of smart contracts. At the same time, we are engaged in this project with the roles, responsibilities and pride that each member should fulfill.
In the future, there is no doubt that various issues will arise at each stage as the QURAS project grows up in stages.
We QURAS team believes that we must face these issues seriously and seek solutions with trial and error. This is our mission given to the Quras project team.
We QURAS team will work with a strong will to strengthen and develop this project through the development of better protocols and the development of stronger business areas.
Thank you for your continued support.
All members of QURAS Project Team