Dear investors of THEKEY,
As you are all aware of that the ultimate purpose of the Token Generation Event (TGE) of THEKEY is to raise sufficient funding support for a quality and on time implementation of THEKEY. Our original requirement of funds at this stage for said purpose is around USD22 million and when we launched private placement and pre-distribution it was 4,600 BTC in equivalent. However, in the past several weeks since we officially kicked off our TKY Distribution Plan BTC has been appreciated 60%, (from USD 5,000 to USD 8,000). Therefore, if we stick to our original Distribution plan and alongside with the appreciation trend of BTC value, we will surely raise money more than we actually need at this stage.
Against the background indicated above I would like to make the following statement for and on behalf THEKEY,
1. The price of TKY to BTC remains the same, which is 1BTC = 1,000,000 TKY.
2. Further adjustment on hard cap is required. The total amount of BTC for our Distribution Plan has now changed from the fixed number of 4,600 BTC to USD 22 million equivalent BTC.
3. The total percentage of offering will remain unchanged, which is still 51% of the total supply of TKY. However, once we successfully hit the hard cap (in BTC equivalent to 22 million USD), THEKEY will immediately ends all its Distribution activities.
4. The undistributed TKY out of the 51% total supply will be allocated to Ecosystem reward fund and Project reserve fund.
5. Private placement stage will be closed at 9:00 Beijing time next Monday (GMT 1:00, Monday, Nov 27th 2017) and Pre-distribution stage will remain open till 22:00 Beijing time (GMT 14:00) January 15th 2018 or otherwise announced by the undersigned
6. To show our deeply gratefulness to supporters of THEKEY, we increase the target amount to be raised in Pre-Distribution Stage from BTC 880 to BTC 1,660.
7. We only accept NEO for Distribution Stage.
8. From 9:00 Beijing time next Monday (GMT 1:00, Monday, Nov 27th 2017) THEKEY only accept minimum investment in pre-distribution stage equivalent to 1 BTC.
9. Distribution will be launched at 9:00 Beijing time (GMT 1:00) February 1st if there is still undistributed TKY. THEKEY may open the white list at any time.
10. THEKEY auto registration system will be on line at 12:00 Beijing time next Monday (GMT 4:00, Monday, Nov 27th 2017) and the current manual system will stop its operation by 12:00 Beijing time next Monday (GMT 4:00, Monday, Nov 27th 2017).
I would like to take this opportunity to thank you all for your support.
Looking forward to meeting you tonight on our AMA at 21:00 Beijing time (GMT 13:00, Saturday, Nov 25th 2017). Be there or Be square! AMA will be on telegram: https://t.me/joinchat/FkZtERGQ1qUEU7iAzC6xVQ
Catherine Li,
Chairwomen and CEO of THEKEY
