You have all heard about the fixed pricing of CAN at 6000/ETH that we announced earlier this week. It has proven to be a controversial decision.
Our goal was to create a fair opportunity for all contributors, take into account the current bear market conditions and emulate actions being taken by other offerings in the market. We also thought that a very conservative approach of setting the peg lower than the lowest ratio at which pre-sale buyers bought, would be good for the project and well received by our community.
Our community did not agree with that approach. And we heard that loud and clear over the last 48 hours through our AMA on Reddit and in our Telegram group.
So, we are making changes.
1. We are ending the peg to ETH. We are reverting to the original terms, which means that CAN is priced at $0.10 and is not pegged to Ether.
2. To wind down the peg in an orderly fashion, the change will be effective Tuesday April 10, 2018 at 10AM PST/8PM EET.
3. We will of-course honor the published terms for the buyers who purchased during the peg.
4. We are awarding 10 Million bonus tokens to our pre-sale token buyers. Tokens will be automatically deposited to your account in proportion to your pre-sale token purchase, before the end of token sale.
5. Token sale will end as scheduled on April 30, 2018. All unsold tokens will be burned and there will be no changes or extensions to the sale.
A message from Pradeep Goel
Solve.Care Community, we have always tried to conduct ourselves throughout the token sale journey such that you would be proud of us. We really value you as a community member.
With your continued support we will put this road bump behind us and get back to the business of building a great community and global CAN economy.
Originally posted on Medium.