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Thanks to over 6,000 backers that participated in the pre-token generation event, Ingot Coin has achieved their soft cap goal of $40,000,000 and has even surpassed this goal.
Softcap Achieved, Now Working To Achieve Hard Cap
This goal was derived from the minimum amount of money needed to launch the ecosystem and all the accompanying supporting services (legal, PR, etc.) at their minimum values. Several of the smaller parts of the ecosystem were either removed or merged to be more cost-effective, and still allow the ecosystem to operate at an almost optimal level.
The hard cap on the other hand, is the maximum amount of money Ingot Coin will take. According to the whitepaper, $90,000,000 will be all that is needed for their extensive financial model. If hard cap is achieved, this will ensure the team allocates money for the best possible options (top developers, best practices, etc).
Ingot Coin says all goals and milestones will be met still even if hard cap is not reached, but initial growth will be slower. Achieving these objectives will also be slightly slower due to the some of the more external components that may not be properly funded if hard cap is not reached (IC Accelerator, IC Crypto Certifier).
Missed the Pre-TGE? No worries!
The second opportunity for users looking to purchase tokens for the revolutionary platform that will connect new crypto markets with existing traditional financial markets is available, with the more public token sale that will continue until August 11th.
Ingot Coin has also scheduled a second ICO round in the last quarter of 2019, where funds then will be used to implement a digital commodity exchange that will launch one year later.
Token Sale Details
Users will still be able to take advantage of a discount if they are able to act early enough, which will be applied to the base rate of $1 per IC.
The discount users receive is based off two factors: when they participated in the sale and the size of the transaction. For example, those in May (Pre-TGE) who purchased more than 10,000 IC were eligible for a 35% discount but purchases below 10,000 only got a 30% discount.
During the ICO, the maximum discount users can achieve was during week 1 of July, and with purchases over 10,000. The discount will decrease by 5% each week, until it hits 0% in the second week of August.
Once the token sale comes to a conclusion, IC’s wallet will go live quickly after sometime in Q4 2018.
For more information about Ingot Coin, to read their whitepaper, or to purchase tokens, check out their website. To talk with community members and team member alike, check out their Telegram channel. Ingot also has a thread on BitcoinTalk for those looking to discuss all things crypto. Any blog posts will be made on their Medium. Those interested in learning more about the team members behind Ingot and information on the business itself can check out Ingot’s LinkedIn.