The main reasons they gave for doing so are:
- Previous private and pre-sale rounds have already raised sufficient funds for them to execute on their roadmap.
- Higher degrees of volatility in the market now, so they would rather focus on project development instead of diverting resources to run additional sale rounds.
- Their team has been growing quickly and that requires attention to correctly manage as well.
Prior to this announcement, there were community concerns regarding the second phase of the public sale since that would most likely keep token prices low on exchanges if they could be purchased there instead.
It was unexpected that both phases of the public sale would get cancelled. Many projects in the crypto space opt to raise tens of millions of dollars more than they need, so this comes as a pleasant surprise (reminiscent of the low ICO cap that OmiseGO had).
The Aion team listens to feedback and regularly interacts with the community. We are looking forward to their next updates which include transparency on the usage of funds:
A use of funds post will be published shortly that will go into further details. In addition, the Aion project will disclose consistent updates on roadmap execution, token metrics, and use of funds throughout the project as part of our commitment to effective governance.
For anyone not familiar with the Aion Network, the presentation below by Matt Spoke (CEO) gives a quick overview.
We will be posting an in-depth analysis of Aion soon, but it is safe to say that it's our favorite project thus far and we have great expectations for it in 2018.
We have also created a custom page to track Aion Token Release Schedule (TRS) rankings.
Disclaimer: This article is provided for informational purposes only and should not be taken as investment advice. Please conduct your own independent research before performing any purchase or sale of a cryptocurrency. We currently hold AION tokens as part of our long term portfolio.
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