Thank You

The time was 6:42 am UTC and the last submission was accepted in our contract address to mark the end of our token sale. In total, we have raised 200,000 ETH, all thanks to you. On behalf of the Kyber Network team, I wish to express my heartfelt gratitude to everyone who has participated in the token sale.

We saw a total of 21,309 unique addresses who participated, out of the 22,348 addresses that have been approved, and that translates to approximately 95% conversion rate. In the second round of the token sale, 54 lucky members were able to send their contributions ranging from 0.01 ETH to 800 ETH, to the address. No contribution made with more than 50 Gwei was accepted. The tokens are transferable 1 week from now, or after 24 September.

While the token sale lasted only a little over a day, the amount of time spent and the effort taken to coordinate the token sale were long and tedious. First and foremost, we had to make sure that our smart contracts are adequate, so we conducted tests runs and trials using different conditions and variables with a small group of volunteers for a week. Our token sale smart contracts went on to facilitate over 23,000 transactions, and tokens were transferred to contributors immediately at relative ease and with minimal waiting time.

Secondly, communication was another key aspect that we placed a lot of emphasis on, as we had anticipated phishing attempts that could mislead the public during our token sale. In preparation for that, we have assigned moderators (southerner, denizined, imweihuang and arthur, your patience and professionalism in handling members of all types are LEGENDARY!!) and volunteers (thpiderman, spidey6600, skharsaed, yungsarria, chiajaymin) to closely monitor various channels including Reddit, Twitter, and Medium. By positioning ourselves in different platforms, we ensured that information was disseminated properly, and scammers or trolls could be reported the soonest possible, so that actions could be taken to reduce the exposure of those malicious attempts. During the duration of the token sale, we have reported and brought down 4 phishing sites and 4 Twitter accounts.

I would like to thank the Kyber Network team members and advisors for getting the company to successfully raise a good round. Not forgetting the community moderators and volunteers who have been extremely diligent in keeping the community safe and secure for all members, and in keeping the communication from Kyber Network to fellow members succinct. Lastly, this token sale wouldn’t have been possible if not for the enthusiastic support from all of you.

This marks the end of one phase and the beginning of another. Moving forward, we will channel our energy and resources to product and business development. We promise that we will continue our effort in creating a world-class and highly usable platform that everyone has access to.

Onward!