We are fixing the price of Ether to $1,000
Crypto markets have suffered a good deal of volatility in the recent weeks, with the price of Bitcoin dropping below $9,000, altcoins are following the same path, including Ethereum.
We believe in a decentralized future, and Vitalik Buterin’s ingenious idea materialized into the Ethereum blockchain. Even though its price has been volatile, we think that its potential is enormous; big companies have integrated it into their operations, top universities have set up lectures about it, more and more bright minds are establishing progressive and disruptive companies based on it. Therefore, we think that the current price of Ethereum does not reflect its potential and real value.
Many projects doing the ICO, including Signals, start a Token Sale by locking the token price in Ethereum according to the current rate USD/ETH 24 hours before the start of the sale. As many other alts, the Ethereum price is dropping, with the current value below $700 (ATH ~$1400) [30/3 update: ETH price is +- $390). Locking the price at $700 or lower amount could lead to an unfair situation during the 4 weeks of the main sale where investors get SGN tokens according to an Ethereum price locked at $700 when in that moment it is above $1000.
To avoid this, and with the objective of having a fair and satisfactory Token Sale for everyone, we have decided to give you an advantage. We have decided to fix the price of Signals (SGN) token at an Ether price of $1,000, even though its current market value is approximately at $700.
This decision also applies to our presale participants: We will give presale participants the same conditions when purchasing SGNs during the Token Sale. Although we’re aware that our presale participants purchased tokens when the market price of Ethereum was significantly lower than $1,000, they will receive additional SGN tokens as if the price of ETH was at $1,000.
What if Ethereum surpasses $1,000 during the Signals Token Sale?
If the price of Ethereum rises even more during the Token Sale and it surpasses the price fixed at $1,000 at the beginning of the sale, the total market value of raised ETH will reach the $18,000,000 hard cap sooner. In this case, we will stop the sale immediately and redistribute the rest of the tokens to all Token Sale participants (respecting the discount they received when they bought SGNs). That’s how we will ensure that even if the ETH value raises, the Token Sale will remain fair for all participants — including the first and the last participants, as well as participants from the pre-sale and the main sale.
Read our blog posts to find out more about how to participate in the Signals Token Sale and how the first participants get the largest discounts.
Signals Team
