[ANN] SophiaTX Announcement - The Blockchain for Business

[Chief__Architect]

7.3 Mio USD raised in ICO and already running out of funds?
https://icobench.com/ico/sophiatx

Assuming 150k/a for Swiss-salaries, 10FTE could work for 2 years with 3.000k USD?
4.3 USD Mio still left then?

As well assuming Equidato and the project holds some tokens, some actions to maintain the token price would have helped now to raise funds by selling tokens ?  
Didn’t the CEO proudly announce in the AMA that they don’t care about crypto-seasons and have millions in the sales-pipeline?

Big damage for ICO-fundraising if even Swiss-Projects run out of funds, without delivering remarkable results, after raising 7.3 Mio USD in an ICO.
I've seen start-ups delivering far more with 500k funding.

[Sozialtourist]

What are you talking about? Who says that they are already running out of funds? If you can't post a source for your accusations, it's just FUD.

[Chief__Architect]

What are you talking about?

https://twitter.com/CryptoMaster25/status/1106358932811837441

Downsize the team due to funding reasons

Is equal to running out of funds for me, do we agree?

[Sozialtourist]

What are you talking about?

https://twitter.com/CryptoMaster25/status/1106358932811837441

Downsize the team due to funding reasons

Is equal to running out of funds for me, do we agree?

Well, seems like I have to apologize. Didn't know that they had to cut down on personnel costs and dismiss part of their team. I hope that they haven't burned all of their funds completely. That would be indeed a sign of bad management.

[Chief__Architect]

What are you talking about?

https://twitter.com/CryptoMaster25/status/1106358932811837441

Downsize the team due to funding reasons

Is equal to running out of funds for me, do we agree?

Well, seems like I have to apologize. Didn't know that they had to cut down on personnel costs and dismiss part of their team. I hope that they haven't burned all of their funds completely. That would be indeed a sign of bad management.

Why is it that its very common for crypto projects who've done an ICO to have financial issues after several months when we know they've accumulated  good funding that could bring more good to the company longer than expected???

Let’s start a new ICO:
A public immutable ledger, connected to SME ERP-systems, for ICO’s to document their financials and management of funding.  
Or basic XBRL reporting for ICO’s to upload their financial status to a blockchain and every ICO investor has transparency and due diligence on their funding.





Since crypto is not regulated, why not announce to work on new exchanges? Ask twitter OG to pump the coin by paying with tokens for the service. Or a general statement by the project to maintain the token price by marketing and promotion.
Justin Sun probably would make a multibillion market cap out of this project.

Decent still hiring, seems like they don't want to fund Equidato Technologies AG anymore? If the low ETH price is the root cause for the funding issue, it does not sound feasible to let a startup die that has customers, products and a good team.
Other external investor could fund too, if there are successes and the positive outlook to earn money with blockchain. Talents are sometimes harder to get then funding  for hype technologies.
https://decent.ch/careers/

[muleroaa]

What are you talking about?

https://twitter.com/CryptoMaster25/status/1106358932811837441

Downsize the team due to funding reasons

Is equal to running out of funds for me, do we agree?

This seems impossible after such a raise. Where is the transparency, where are the financial reports?

[Darkoth89]

What are you talking about?

https://twitter.com/CryptoMaster25/status/1106358932811837441

Downsize the team due to funding reasons

Is equal to running out of funds for me, do we agree?

This seems impossible after such a raise. Where is the transparency, where are the financial reports?

Yeah, it would be nice to have some official announcement about this. If they are really running out of funds, for how long can they stay operational with what they have left?

[fq,frHUxP*joE]

And where are the funds, really? There were some serious bucks.

Well, I hope they at least had a good time with their lambos on da moon.

Let's just hope they will not abandon this project till the next market growth phase.

[Altcoinrusher]

And where are the funds, really? There were some serious bucks.

Well, I hope they at least had a good time with their lambos on da moon.

Let's just hope they will not abandon this project till the next market growth phase.

Is it really true? I guess we should not create preemptive statements that are unfounded, but somehow we need a reaction from the team with regards to this matter and hope they could give us an explanation about this and explain their side of the story.

[fq,frHUxP*joE]

And where are the funds, really? There were some serious bucks.

Well, I hope they at least had a good time with their lambos on da moon.

Let's just hope they will not abandon this project till the next market growth phase.

Is it really true? I guess we should not create preemptive statements that are unfounded, but somehow we need a reaction from the team with regards to this matter and hope they could give us an explanation about this and explain their side of the story.

Well, since a part of the crypto-ideology is zero trust...

Not that I have no hopes for this project, because if it fails, then who the hell won't fail?

[muleroaa]

Some pretty strong opinions about SPHTX. I guess I would have to agree with some of them...

https://twitter.com/Crypto_Brahma/status/1109050449888534528

[fq,frHUxP*joE]

Some pretty strong opinions about SPHTX. I guess I would have to agree with some of them...

https://twitter.com/Crypto_Brahma/status/1109050449888534528

Yeah sad and they weren't very active about software updates since the main-net launch. I mean, yeah, there were some development in the core infrastructure, wallets-shmallets, explorer and all, but where is the marketplace they've promised, for example?

For the money amount they had after the ICO it's quite underdelivering to have just what any dirt-cheap fork of bitcoin or anycoin could have.

Yet maybe it's a positive side the price drop was a developer cashing out, not a general capitulation. They were regaining value along with the market prior to that.

I don't know about commercial partners, but the market can only judge by the activity visible from outside. And this are new releases, delivering promised features and active development in general. Also the community. Again, the marketplace: the early access for developers was promised to be available a year ago already.

[billybonus3]

Did core team member(s) die or just left? We need official reply

[Darkoth89]

Some pretty strong opinions about SPHTX. I guess I would have to agree with some of them...

https://twitter.com/Crypto_Brahma/status/1109050449888534528

Yeah sad and they weren't very active about software updates since the main-net launch. I mean, yeah, there were some development in the core infrastructure, wallets-shmallets, explorer and all, but where is the marketplace they've promised, for example?

For the money amount they had after the ICO it's quite underdelivering to have just what any dirt-cheap fork of bitcoin or anycoin could have.

Yet maybe it's a positive side the price drop was a developer cashing out, not a general capitulation. They were regaining value along with the market prior to that.

I don't know about commercial partners, but the market can only judge by the activity visible from outside. And this are new releases, delivering promised features and active development in general. Also the community. Again, the marketplace: the early access for developers was promised to be available a year ago already.

A major partership would be the best thing that could happen at the moment. Sure, they already running out of funds and having to cut ties with some employees is bad but if they could prove us that their product  will be used very soon, this could bring back the investors' confidence in this project.

[jvper]

This project could have been something big. They had funds for that. The team was strong.
Was it lack of money? No. Lack of expertise? No. So what happened? ...

[cryptodv]

This project could have been something big. They had funds for that. The team was strong.
Was it lack of money? No. Lack of expertise? No. So what happened? ...

Like I said before, I had a lot of hope for this project. I don't even know what really happened. Just like that, this project is in the shitter. I didn't lose that much. I know people who bought this at $1 or more. Very disappointing. Crypto is really cut-throat. 

[o48o]

This project could have been something big. They had funds for that. The team was strong.
Was it lack of money? No. Lack of expertise? No. So what happened? ...

Like I said before, I had a lot of hope for this project. I don't even know what really happened. Just like that, this project is in the shitter. I didn't lose that much. I know people who bought this at $1 or more. Very disappointing. Crypto is really cut-throat. 

Imho they should had stayed in the same ecosystem as Decent. Dividing the space will divide the support.

[jvper]

This project could have been something big. They had funds for that. The team was strong.
Was it lack of money? No. Lack of expertise? No. So what happened? ...

Like I said before, I had a lot of hope for this project. I don't even know what really happened. Just like that, this project is in the shitter. I didn't lose that much. I know people who bought this at $1 or more. Very disappointing. Crypto is really cut-throat. 

Imho they should had stayed in the same ecosystem as Decent. Dividing the space will divide the support.

They could have saved some effort if they did so. Also, creating useless stuff as token buybacks or HODL Rewards was a total waste of dev time and as a result money.

[Altcoinrusher]

I guess we should just wait for any official news from the team on the immediate plans that they will be implementing upon and what will they do to mitigate such issues.

[jvper]

I guess we should just wait for any official news from the team on the immediate plans that they will be implementing upon and what will they do to mitigate such issues.

The team promised to announce further news by April 1st. Today is April 16th and it just sounded like an April Fool's joke. The team needs to act quicker. Community is demanding a response.