Ocean Protocol — Token Sale
Our Network Launch Token Sale has now come to an end. We’d like to give you an update on how it went.
We raised just over $1.8m from 350+ contributors on the Coinlist and Fractal launchpad platforms. We deeply thank everyone that contributed in this round, and we are proud to have seen our community expand, evolve, and reach new corners of the globe during this sale!
The Numbers — Coinlist, Fractal and Private
Prior to the sale, we’d received $13M in allocation requests from 1,783 potential contributors. Once the sale opened, this converted to $3.96M in commitments. Within the overall Coinlist commitments, there were several big ticket pledges of $1M each, which after looking at the data, we assessed as being being not possible to follow through. Taking these outliers away, $1.96m was committed and we ultimately took in $1.55M via Coinlist — a conversion rate of 79%.
In addition to Coinlist, we received $117k via Fractal, and privately we raised an additional $150k to bring it to a total of just over $1.8m.
Progress Updates
To keep the community informed, we added a progress bar to our website with the aim of providing as up-to-date and transparent information on the sale as possible.
During the sale, we had multiple streams across multiple platforms to calculate, and we did our best to estimate a realistic conversion percentage from committed to contributed. It was inexact and skewed by several large pledges which ultimately withdrew. With transparency a cornerstone of Ocean Protocol, we are disappointed that these factors played into us not being able to provide as detailed information on the status of the sale as we’d hoped. For that we are sorry.
Next Steps
We’re looking forward to delivering the v1 beta network within the next few weeks and Ocean Tokens (ERC20) will be transferred into contributors’ ETH wallets shortly thereafter. We will keep you updated on an exact token delivery date.
If you are a Seed or Pre-Launch contributor and haven’t already submitted your ETH address, please do so as soon as possible or you may not receive your tokens at the same time as everyone else. We have sent out several reminder emails— if you haven’t received anything from us, please check your spam folder.
We will share more information about listing on exchanges in the coming month. Thank you for your understanding that we are unable to provide any kind of comment on exchanges in the meantime.
On behalf of the entire Ocean team, we’d like to send a heartfelt THANK YOU to our incredible global community of thinkers, dreamers, blockchain developers, entrepreneurs, data scientists, tokenomics enthusiasts, AI researchers and tech visionaries for showing your support during this sale. We are building Ocean Protocol for you.
Ready to dive in? — Check out the Ocean Documentation to get a sense of what we’ve been working on, and fire all your technical questions in our Gitter chatroom.
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