When we launched our ICO for AirToken, our goal was to raise at least $15 million to successfully execute on our plan. Due to overwhelming demand, we sold out the $6.5 million AirToken pre-sale weeks ahead of schedule.
Now that the pre-sale is over, we have been listening to our community and assessing their feedback. Originally, we decided to have a “traditional” ICO, where anyone can purchase AirTokens in any amount during the token generation event. However, this style of ICO theoretically allows wealthy people to purchase large amounts of AirTokens, preventing smaller purchasers from taking part in the ICO. For example, when the BasicAttentionToken ICO happened, less than 50 people purchased the entire supply of tokens. We believe that having a diverse, larger number of individual AirToken holders will help increase long-term interest in our project and better ensure the success of the token longterm.
Therefore, we have decided to implement an AirToken white-list, at the same bonuses available in the public ICO, capping the amount of AIR each white-listed purchaser can get, to better diversify our AirToken community and prevent large “whales” from buying out the entire ICO.
We recognize that this is a decision made after the pre-sale, and in order to make sure our pre-sale purchasers get a nice boost for believing in the AirToken project early, we have decided to increase all pre-sale AirToken bonuses by 3%. We will send updated paperwork later in the week to AirToken pre-sale purchasers to amend the total AirTokens they are receiving in the token generation event. We very much appreciate the support given to us by pre-sale AirToken purchasers, and we want to extend our gratitude with this extra bonus.
Given that the AirToken ICO is not far off (September 19th at 14:00 UTC), and that our Ethereum ICO solidity contracts have been exhaustively tested and audited for several weeks, we cannot implement a “traditional” white-list without delaying the ICO.
Instead, we will offer interested white-list token purchasers the ability to purchase $300 to $10,000 USD in ETH or BTC before the ICO. White-list purchasers will need to fill out KYC (“Know Your Customer”) information on a website form and send their ETH or BTC to us before the ICO begins. Purchasers will have their ETH wallet addresses hard coded into the token generation event and have their AIR minted and sent to their ETH wallets automatically during the ICO.
The white-list website will be posted on our social media channels and sent directly to subscribers of our newsletter. Please sign-up for our newsletter at https://airtoken.com/ to receive news immediately once it’s released. The white-list website will be active later this week.
White-listed individuals are capped at 1 purchase each. All pre-sale AirToken purchasers can also take part in the white-list, and all pre-sale and white-list token purchasers can still take part in the public ICO. The bonuses available in the white-list are identical to the public ICO bonuses.