see that ICO finally started, how long will ICO run? When does it end?
Dear TIM Community Members,
As you are aware, we have extended our ICO. We understand that delay in TGE would have caused some disappointment among our investors. However, based on recent events as mentioned below, we took the decision to delay the ICO by 2–4 weeks, which is in best interest of all. We appreciate your patience at this time and will soon announce new date of TGE.
Meanwhile, we assure you that we have a roadmap ahead of us to make our ICO successful and your investment safe. There are few things mentioned below that our team is diligently working on:
Establishing smooth KYC/AML process for crowdsale
Introducing new marketing strategies
Scheduling Live Demo and AMAs
Monitoring market for better conditions
TIM platform has seen some phenomenal achievements in past few weeks. Apart from that, we also cleared the air over many open-ended questions. And now comes the good part of crowd sale which helps in mega successful token sale. The current market conditions are just not suitable enough to put through crowd sale.
From the past month, we are offering TIM tokens as Reg-S of SEC. As per our lawyers, there are considerable factors that qualify TIM as utility token , it makes absolutely best proposition to offer as REG-S keeping in mind some recent global events. You probably are already aware that only Bitcoin and Ethereum are identified as utility very recently. If those cryptocurrencies were to float now, they probably would have been offered as SEC Section 506 asset for an ICO. As William Hinman, director of SEC noted in his speech “Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralised structure, current offers and sales of Ether are not securities transactions.” And “Over time, there may be other sufficiently decentralised networks and systems where regulating the tokens or coins that function on them as securities may not be required.”
TIM is a cryptocurrency and Reg-S makes the offering completely compliant. Registering our company in a safe haven country rather than USA could have avoided us the need to be SEC compliant but it would have made it difficult for us to enter the US market or avoid compliance with SEC in future when asset enters USA. Most financial institutions don’t prefer to do business with a company whose sole purpose of registering in safe haven countries is to avoid regulations . For a global platform like TIM, our reason to operate in jurisdiction of USA is very sound and futuristic which new platforms will be following.
These legal setup parameters are very recent features of TIM ICO and the investor community needs time to assimilate its far-reaching impact for positive and healthy growth of platform. The delay in crowdsale will allow that exchange of information through various discourse to happen. It is therefore very important for crowdsale participants to become aware about the benefits of this step.
Any crowdsale needs good market conditions and confidence of market participants. We recognize the last few weeks have not been such ideal conditions in crypto. While we cannot speculate and time the market, we believe few of the above mentioned initiatives from our side will help us to conduct a successful crowd sale. The market is already showing signs of recovery but a few more steps will be an ideal point for ICO.
TIM ICO should happen through an exchange or a third party which is auditable and fool-proof for security. We are in final stages of discussions with various partners in this regard. The selection and setup for one or more such partners will be announced soon.
We have released the boot process video snippet of TIM where 2 nodes connect and start the GossipTrust protocol to reach 100 TPS in purely decentralized and independent mechanism. You can do the same setup by yourself for any number of machines. And report to win dev bounty or join the Devs. A set of demo, code review, more AMAs and technical Q&As will be released by end of this month when the experts become available from their schedule.
TIM CMD Screen
Behind the scene, we are working hard and a lot is happening in TIM. We are excited about our achievements in technology and innovation. We are going full force ahead in making TIM a revolution!
Thank you for your continued support and stay tuned for more technology updates and community events! We will deliver on our promises to make sure TIM is a long term value proposition for all.
TIM Devs
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