I received this email today
" It’s been around 2 weeks since we successfully finalized our crowd-sale. Remember those tokens that were going to be burned? Well - they have been melted down and removed from circulation forever. We would like to thank everybody who participated and supported us throughout this project! We are looking forward to realizing the goals we have set for both you and Paragon.
What was burned and why?
We have burned around ~35 Million PRG Tokens!
That sounds like a lot - and it is - but this is an important part of how our model was planned to work. As stated in our white paper, all unsold tokens are burned - removing them from circulating forever. This decreases our PRG supply even further, resulting in less supply even when demand goes up. Remember that PRG will be the only form of payment for solutions such as our Paragon Spaces!
You can review the burn in more technical detail here:
https://etherscan.io/tx/0x2cb23ea46ec2486d14a151ed1a5947eff475f2e0f09e801659ab6acb7f3f678c So where does that leave us?
Of the 100 Million PRG available for pre-sale and crowd-sale - ~65 Million was allocated. There are a few reasons that we did not sell more tokens than that. The most prominent one is due to large (and institutional) investors not having followed through with agreements and payments, resulting in a partial burn of PRG that was initially allocated to the presale.
So what did we raise during crowd-sale?
~ 533 BTC Escrow BTC -
1JuScKMcWKYf89FdWwb1TxaYBk8boSnNbn
~ 8092 ETH Escrow ETH -
0xa06cDcb65aA680559808D0b18323Bfd11cAbD956
The above does not include the amounts raised during our presale phase. The presale figures will remain private due to various NDA’s and agreements with participating parties.
Exciting events and votes!
Next week on the 7th of November, Paragon is hosting an event in San Francisco! Two of our partners will also be attending: ChronoBank and Velton-Zegelman Firm! Some great drinks, tasty snacks and most importantly, an awesome ambience will be present! Tickets and details will be available shortly in the Paragon store - so be sure to login and get a ticket before it's gone!
Also - don’t forget to vote on the location of our very first Paragon Space! All of you get to vote, and ultimately decide on where we open our first Paragon Space!"