Discreet Extending IDO Pre-Sale Phase
To satisfy both Discreet holders, and keep development viable, Discreet is extending its IDO.
After several years of research and a full year of development, the Discreet development team was eager to push what they had built out into the world as soon as possible. When Discreet launched in early June, 2021, the team initiated the 60-day time period for the IDO pre-sale that had been previously agreed upon. We understood that if conditions in the market were right, it could be possible to meet the fundraising goals in that timeframe. As the IDO pre-sale continued, a downturn in the market, delays in the launch of our new website, and other factors beyond the team’s control brought the team together to reevaluate their initial choice of a 60-day window.
After consulting Discreet’s community, it was determined that the best course of action would be to extend Discreet’s IDO pre-sale beyond that arbitrary 60-day period. Doing so would give the project the greatest chance of success, as well as increase the value potential for those who purchased $DIS.
The Rationale
An extension of the pre-sale would serve three primary functions:
- Allow for marketing efforts to continue, bringing as many eyes to the project as possible, and giving Discreet maximum exposure over different market cycles
- Continue to raise funds toward the hardcap goal set by the team
- Build increased liquidity for the eventual IDO, set to take place after the pre-sale.
The one drawback to the extension is that people who may have been planning to trade their purchased $DIS on a DEX like PancakeSwap would now have to wait a little longer before they could do so. But in the end, the potential benefits of extending the IDO pre-sale were determined to outweigh the drawbacks.
In consideration of the people who may have purchased $DIS with the intention of trading after 60-days, we are conducting a special one-time airdrop promotion, distributing 100,000 $DIS within the community, with that amount being distributed on a linear scale depending on how much $DIS an individual has purchased. (So the more $DIS you own, the more you will get in the airdrop.) More details about the airdrop will be made available on Telegram in the coming weeks.
Given the ambitious nature of Discreet’s project roadmap, it was felt that the pre-sale ought to continue through the testnet phase in 2021 and bring it to an end as Discreet launches its mainnet next year (2022).
The subsequent phases of the pre-sale will see incremental price increases in the cost-per-DIS. Details on the length of subsequent phases and amount of incremental price increase will be disclosed soon.
The Discreet team believes in this project and the incredible technology and tools behind the platform we’re building. We are so grateful for the support of the community we’ve built and are excited and optimistic about what the future holds. Thank you for coming along on this journey!
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