CREDITS ICO started on February 17th and finished in 17 hours with the result of $20 000 000 hard cap reached. CREDITS CEO & Founder Igor Chugunov and CREDITS CTO & CoFounder Evgeny Butyaev have recently shared the details of CREDITS ICO with Coinstelegram.
What are your impressions about CREDITS ICO?
Igor Chugunov, CREDITS CEO & Founder: ICO can be compared with climbing Mount Everest. One should be preparing for it for a very long time, foresee risks and possible mistakes, but still it’s almost impossible to get prepared for everything. In the end of 2017 we raised $3 000 000 hard cap during the pre-ICO and it was our first small victory. During ICO we gathered $20 000 000 mln hard cap within 17 hours, this clearly shows that we are on the right track and people believe in our project.
Evgeny Butyaev, CREDITS CTO & CoFounder: Before the start of ICO we’ve got more than 120 000 requests for Whitelist for the total amount of $1 350 000 000. During ICO we received about 20 000 transactions from about 15 000 addresses, thus about 15 000 contributors have become CREDITS token holders.
An average amount of payment was around 10 ETH. We didn’t have a goal to conduct ICO within 5 minutes, we were trying to involve the maximum amount of participants.
Could you please describe in details how you held ICO?
Igor Chugunov: When people ask me how our ICO was, I always answer that it was rather difficult and challenging but very interesting. Yes, we faced some problems. During the ICO we noticed a lot of fraudulent activity from individuals who contacted participants on behalf of CREDITS administrators and technical support team, creating fake websites and smart contracts. I was surprised by such a huge amount of scammers. However, it proves that CREDITS is a high-potential project that attracts attention of crypto enthusiasts. During ICO there was about 35 000 subscribers in our English speaking Telegram group. Besides, there were a big amount of active subscribers in regional Telegram chats of Japan, Korea, Russia, China, India, Turkey, Spain, Brazil and the Arabic countries.
Evgeny Butyaev: We’ve received feedback from many developers who supported us in the Alpha-version testing. Not everything was smooth, but we managed to point out the weak points, work out the consensus algorithm and we are inspired to make a high quality product. Taking into account all the remarks and messages sent to the technical support service, we are preparing a new release of the Alpha-version where we are trying to eliminate all the issues. According to the roadmap at the moment we keep on developing smart contract module and we are going to release platform updates regularly.
What advice can you give to entrepreneurs who are getting prepared to ICO?
Igor Chugunov: There is no ideal ICO strategy. However, there are two main points: a great team and setting right goals and objectives. Every member of our team has put maximum effort into achieving our common goals and I am grateful to everyone starting from the developers to the community managers.
Evgeny Butyaev: It is very important to connect with the community. We received a great support from the experts who gave us good advice and were leading us in a right way.
What are your further plans?
Igor Chugunov: We have huge plans and we will carry on working hard and productively. We are going to update the platform every week and add new options of working with smart contracts. Now we are negotiating about cooperation and partnership with different projects that are ready to switch to our platform and develop services and decentralized applications. It’s only the beginning of CREDITS way, we have rather ambitious goals and are ready to do our best to achieve them.
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