The Fabric Token crowdsale has finally come to an end. In this article, we are going to review the 45 days in which the ICO ran, starting from February 15th, 2018.
Including the pre-sale funds, we raised a total of 2617,45 ETH. Most of the activity took place in the first and last few days of the ICO.
Sadly, since the beginning of February the crypto market has been in a very poor shape and this has had a huge effect on the TGEs (Token Generation Events) taking place in that timeframe. Funds directed at ICOs have dropped substantially in February and March 2018, as compared to January 2018 and December 2017, however, we are very happy with the amount of contributions we gathered.
The 2617.45 ETH will be enough for us to continue developing the Fabric Token ecosystem confidently. We announced right from the start that, regardless of the crowdsale’s outcome, we are going to make this project into a reality – and nothing’s changed about that.
The Final Distribution
You all know by now that the original distribution was set to the total cap of FT, which was 100 million tokens. However, as the final total cap depends on the number of tokens sold in the crowdsale and since there has been some confusion around the distribution of FT after the crowdsale, here’s a short summary to clear things up:
- 24.593 million FT (56.42%) allocated to the public. This includes 1 million tokens for the bounty program participants and 8.75 million tokens for the project’s two strategic partners.
- 12 million (27.52%) allocated to the core team. These tokens will be locked for 1 year and will be released exactly on February 15th, 2019.
- 7 million (16.06%) allocated to FT advisors. These will be locked for 6 months up until the 14th of August, 2018.
Altogether, there are 43,593,614 FT in existence. The number of tokens in circulation is currently 24.593 million, excluding the 1 million for bounty program participants that have not yet been distributed to their respective owners (more on that in the next announcement). Also, as per the crowdsale price ($0.1125 per 1 FT), the current market cap of FT is around $4.9 million USD – assuming it starts trading at that minimum.
Transfers on FT
As promised, transfers on Fabric Tokens will be frozen until we land a decent exchange listing. For more info on the matter, refer to section four from this article.
That’s actually really simple – TokenGen. All our efforts are directed at developing the ultimate smart contract creator for the token economy. We are working hard to better the tool as much as possible, to an extent even higher than the one described in our roadmap and we think it would be great to see the next version release coincide with the announcement about listing FT on a good exchange. But, we’ll see how things turn out.
While these past few months may not have been the best time to run a TGE, we have no regrets. We had a plan and we executed it. And even though we didn’t reach our hard cap, we are actually very satisfied with the crowdsale’s end result. We did everything we we needed to do in order to ensure the long term success of this project, which, in the end, is what matters most.