Gath3r IEO Updates
Posted by admin on June 10, 2019
First and foremost, we would like to extend a big thank you to all our supporters through the last year and a half. It’s been a crazy roller coaster ride so far and looks like this ride is only going to get better. As part of fundraising efforts we decided to have an IEO on Coineal on the 27th of May. While we were able to raise a reasonable amount of capital, we as a team decided that it would be best to return all funds and do a second round in the future, with Coineal and possibly other exchanges as well.
You may ask why? A few reasons:
1) We knew that the amount raised would not meet the internal runway required, before we can successfully move onto private equity rounds.
2) The last week leading up to the IEO, we had a significant news in regards to partnerships and media mentions, while they were very impactful, with such a short amount of time, we were not able to leverage them to best possible extent.
3) We have a few more exciting partnerships and new coming up in the next few weeks. Lastly, our POC (Proof of Concept) is nearing completion, and with the new timelines, we would have a prototype which we would be able to demonstrate for the overall public – increasing the impact we can have when speaking to investors.
Some other questions which may be asked:
1. Why did you not just leave this round as is and do a round 2 as well?
We had never planned for two rounds on Coineal, and our terms were always were for just one. Coineal very kindly has allowed us to refund the sale and do a round two, in coordination with other possible exchanges.
2. When will the 2nd round happen:
We can’t say for sure, as we are currently looking at the best dates, but it would no less than one month and no more than two months from the release of this letter.
3. How do I get my refund for participating in the IEO?
Please get in touch with anyone from the team, and we will guide you, alternatively Coineal will let users know how to proceed as well.
Some on-lookers may question our decision, but we carefully considered the circumstances and we thought issuing a refund was the best outcome for Gath3r and the overall community. Our decision to do this was in the spirit of being transparent with the community, so that we stay true to our ethos and commitment of transparency. This was also the reason we took a week to release the news, many nights of calls, and deliberations throughout multiple time zones lead to 11 board members agreeing with refunding and conducting a round two.
We would like to take the time to thank the community, our early investors, team and Coineal for their on-going support. We look forward to conducting a successful round two with your help
Below you will find information about our latest Partnerships as mentioned above
- Luxcore – Luxcore’s partnership with Gath3r is mutually beneficial. Gath3r will integrate Luxcore’s whitelabel web and mobile staking wallet, which adds value for Gath3r loyalty program and in return Lux will be one of the first customers of the merged mining feature, using it to add additional hashpower and security to their network
- Aion’s – Metalyfe. Metalyfe is a blockchain based browser similar to Brave. Metalyfe will be the first decentralized browser that will use Gath3r to create additional Monetization for their platform.
- Coinstruction – Coinstruction a European registered entity and the partnership is mutually beneficial. Coinstruction will provide Gath3r with it’s crypto/Fiat ramp so that Gath3r can provide FIAT based payouts for its users in the SEPA region. In-return Coinstructions sister company BESK, will use Gath3r merged mining feature within their own token ecosystem and offer it to it’s partners and customers
- Apereum and Gath3r Foundation, In line with the future requirements of the Gath3r foundation, Apereum will the first strategic partner that will source and vet all deals on behalf of the Gath3r Foundation. Apereum works with the likes of the Litecoin Foundations, Aion Foundation and many family offices and funds
Along with all the partnerships, we have significant media mentions as well, which are highlighted below. A few examples are below, while a general search of Google will show to the extent the news is being syndicated.
These partnerships have resulted in significant momentum for us and this has been picked up by the media: Blockchain Brad, the Daily chain, CryptoGems, 499 block in China, Bolian Finance, a noteworthy mention in Forbes, Mars Finance and syndicated news in China.
We are also very happy to welcome Charles J. Read on board as an advisor. Based in London, Charles is a multi-faceted blockchain evangelist who focuses on investment trends, public research, and assists with user acquisition for emerging technology companies building consumer applications. He has run the accelerator Servamps and worked with a number of startups including Sovrin, Quarkchain, Bitfinance and more. Charles joins the team to help build out strategy around exchanges and partnerships, and to ensure momentum is kept up for all supporters of Gath3r.
You can read more about Charles here: