Ocean Protocol Pre-Launch is Target Reached

We had over 3,000 people participating and reached our hard cap of 9M€. We’re deeply grateful to our community that supported us. It’s a milestone that gives us the resources we need to move forward and deliver on our promises.

Photo by Rick L on Unsplash

What happened

The Pre-Launch started just at the moment when market conditions turned. The Ethereum price plummeted almost 20% from Monday 685€ to 562€ today. This brought FUD to a lot of people.

We also set the individual cap too low. We optimized for inclusiveness by whitelisting 10,000 but made it so that our strongest supporters weren’t able to contribute as much as they wanted to.

The low cap was uninteresting for whales (good), the long lock-up period scared away speculators (very good), we set a fair price for the token which some disagreed with (blog) and we held back from taking a wall of money from institutional investors so we could give the community the chance to participate in the Pre-Launch token distribution.

Twenty-four hours in, we’d reached half our goal.

We changed course

We wanted the project to have the resources to fulfill our promises. We mostly accomplished the goal to let the community in, but the low individual cap left us short of our public goal of 9M€. So we decided to steer the ship towards our staunchest supporters, give them a chance to contribute more and they came through for us.

We’re Moving Forward With Excitement and Our Community

We’re very excited because we know who are our true supporters and believers. This gives us the strength and momentum to move forward confidently.

We want to send a deep thank you from the entire team, to our supporters. We feel your energy, ideas and enthusiasm in our channels and feedback. We’re humbled and grateful for your support.

Special thanks go to the following community members for providing counsel, energy, and much appreciated support:

Moeddie, Case, Alex, Neetesh, Herbert, Peeech, H. Ht, PythonEd, Coin, Zono, Sebastian, Maz, Theo, Hyde, D4134, Sia, MF, LadyBlack, Jesus, Gonzalo, Andrey, Vic, Sebastian, MF, Bryan, Liji, R Con, Channy, Marco, LongJohn, Seamus, Juk, Sahebsons, Smontema, Faceitall, Cheng, Sonic, Azulmarino … and many more.

You are the community that we asked for.

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