We would like to address your questions regarding the current condition of the project and the lack of promised IDO. We’ve been working long and hard to find suitable projects for the SmartPad launch. The situation, however, is as difficult as ever and as we previously mentioned, many of the projects decided to postpone their IDOs indefinitely.
It is true that the promises were made about launching IDOs within a certain time period. We were talking to a number of different projects, but they decided to delay the launch until the better times. We know that we asked you to wait patiently a number of times already, however, launching a project now would bring nothing but loses, which is definitely something we would like to avoid, as you’ve continuously put your trust in us.
We thought long and hard about what we can do while still maintain our face as a launchpad platform. And this is the solution we came up with. There are some projects in the current market space who would like to launch an IDO, but don’t need a large fundraising cap. By having a smaller cap, there is a higher chance for returns, certainly at a lower scale than grand IDOs, but returns nonetheless. We believe this is something IDO participants may find attractive.
Therefore, we have made a decision that as long as the market is in this state, we are going to focus on a low cap projects. Not only that, but we already found a project in need of the small fundraising amount. Over the next couple of weeks, we are going to tease some news about it before announcing it officially. We know you are tired, and your patience is running out, but we desperately need some additional time to launch it successfully. This way, we will make it up to you for the prolonged period of waiting.
Thank you for your attention.