Dear U.S. supporter,
The X8 project has come a long way in providing the crypto safe haven for all crypto users. This email will communicate our intentions in regards to the U.S. market and how we can enable our U.S. followers to keep the ties with the wider family of X8 project members.
Our dual token model is introducing a safe and stable X8C currency token and a dynamic X8X utility token. We are confident that the X8X token exhibits all the characteristics of a true utility token. Furthermore, this utility token is not just any utility token. The X8X does not have any characteristic of a security. It rather takes advantage of the 100% tokenized business model, which is the future in the new economy. The token focuses on what it can do and what kind of function and utility it can provide in the financial world. It is unique in how it can transcend financial instruments to another level.
We are sure that the X8X utility token will secure the status of a utility token also in the United States of America. We went to great lengths to ensure that this token does have all the all the required characteristics and background so that it will be accepted as a utility token also in the United States of America and by the SEC.
Our aim was to be able to offer participation in our project and the X8X TGE (token generating event) to U.S. citizens. Nevertheless, because the TGE timeline and the Limited Whitelist phase of the TGE came about faster than we were able to receive a response from a U.S. institution to provide a solid legal base for this step, we had to decide to put the safety of the project and other participant contributions first and continue with the X8X utility token sale without the participation of U.S. citizens.
In this context our project sought the best solution, because we care a lot for our support base. The X8 project has always been about the long-term perspective and we believe that everyone should be able to join us. When merging all the perspectives into one, we were able to come up with the following proposal to invite the members of the U.S. crypto community, so everybody who wants to support our project gets a fair chance.
- U.S. citizens cannot contribute during the TGE (X8X utility token sale)
- X8 project will create a reserve of 1.000.000 X8X utility tokens from the airdrop quota
o Airdrop size will be reduced from 27M to 26M tokens.
- The reserved quota of 1.000.000 X8X tokens will be offered to U.S. supporters directly prior to the X8 project’s entry into the U.S. market.
- The quota will be offered to those followers from the U.S. who will complete their Video KYC by 22th Jan 2018.
- Only successfully verified U.S. supporters will get a chance to obtain the X8X from this special package.
- The future limitations on contributed amounts for each individual will remain the same at 10 ETH, just as during the Limited Whitelist of our TGE.
- In case the entry into this quota will be oversubscribed, contributions will be averaged out and a proportional amount of X8X will be obtainable by each individual.
This is a symbolic gesture which the X8 project can make to remain in a good relationship with our U.S. community base and at the same time remain fully compliant. The price of the token at that future point is not determined, but we are looking for the most sensible, practical and fair offering that we will be able to pursue at that time. We believe it is in the interest of the entire project and the wider community to keep our ties with our American friends as strong as possible.
Everyone, who will decide to successfully complete the KYC will be notified about all the updates in this regard.