Dear community, we are sorry to announce that this thread will be closed

About the Skyllz project

After almost 1 year working on Skyllz and the opportunity of using technology to solve how education and the HR industry work, and after going through a lot of different stages, we have definitely decided to cancel any token generation event, or even the usage of a token within Skyllz.

At the beginning of Q2, together we our legal counsel, we decided to take a deep look on how a token, a cryptocurrency or any other incentive mechanism exposed to the will of the offer and the demand will help (or not) Skyllz to be closer to its long term goals. We did a lot of testing on users interactions and flows using points as internal units of account and we saw that certain assumptions that we expected to happen didn’t happen.

The main reasons that we saw are:
-The volatility and speculation around tokens in general (as we know today) won’t make sense for the product and business model themselves.
-Tokens and cryptos only attracted bounty hunters that are not very interested in our product itself. A target market that doesn’t help the development and growth of the product.

After all, we consider ourselves doers and tech lovers, and we started Skyllz with the enthusiasm and energy of building a solution to a problem that we have been trying to tackle during the last 3 years.

About a potential ICO or Token Sale

After checking with our lawyers during several months and seeing that regulations were still very unclear, we decided a few months ago to discard any possibility of selling any token through public or private placement. We haven’t raised any money to date related to any token sale of SKTs or any other token. We have no plans to do any token sale.

About bounties

As we have stated at the beginning of this announcement, we have seen that a token available for non-users or external exchange listings doesn’t make any sense for Skyllz. I wanted to personally apologize all the bounty hunters and members of the community that have participated in our bounty program.

Because no token will be created, there will be no token distribution.

We really appreciate the support of those who participated but finally, as a lot of early-stage company, we failed. We tried our best to find alternatives but timing and general market conditions made us take the best possible decision with the information we had.

Thanks a lot for being part of this community during the last months and for your extreme patience. We have tried to explore a lot of different possibilities before making this announcement.