September 15th 2017
During an exciting ICO we saw SIFT raise in excess of 7,000 ETH and the buy-in period for SIFT is now closed. The first thing we want to say is thank you to everyone who bought SIFT. Whether you purchased a single SIFT or substantially more we have been humbled by the response that we've received since announcing SIFT back in August. For a decade we've worked on creating amazing systems and we can't wait to repay every SIFT-holder over the coming months and years.
Those who purchased SIFT have already been credited with a balance of the token. The balance will become unlocked for transfers and trading in the coming hours - a separate news article will confirm when SIFT has been unlocked.
The next steps for us are to begin trading as soon as possible. It's been a crazy period to run an ICO. We launched just after Bitcoin hit a low of $1,750 and we saw Ethereum touch $400 during the past six weeks before recently plumetting. Our algorithms detected all these moves are we're keen to start trading as soon as possible. We are aiming to commence trading before the end of next week and will notify everybody before this time.
As soon as trading begins we will start relaying trade details and fund values. Links to these will be provided on this website in a few days time. We'll also be announcing monthly video calls to investors to report on that month's trading.
There have been a lot of discussions during the ICO. We've had SIFT-holders interested in buyback schemes, exchanges, reinvestment and many other ideas. The main thing for us is to focus on delivering immediate returns and providing the easiest way for everybody to get their dividends.
We had proposed that we would use our dividend smart contract that would allow SIFT-holders to withdraw dividends on demand. Almost everybody in our Telegram channel told us that they'd prefer to be paid it directly - allowing them to store SIFT in offline wallets. We've listened and we understand.
Since this is a change to our original structure and proposal, this change will be proposed via a vote on the blockchain before the first dividend payments are made. Stay tuned and we hope to have news of this in the next couple of weeks.
The first dividend payments are due to be made on the first Monday in November - Monday 6th November 2017.
We created a Windows application that could integrate with Mist and Geth to allow you to purchase SIFT. During the ICO very few people downloaded this application due to concerns about installing software on their systems. We understand this and have decided that rather than building out the desktop application further we will focus on creating web-based interface to SIFT smart contracts.
Whilst the first vote won't be through our website we do plan on adding distributed app support in the future and will be providing read-only access to trading data via our site shortly. During the ICO we had our contracts added into MyEtherWallet. This at least makes it easier for SIFT-holders to check them without needing to download ABIs in the short-term.
It's really important that we maintain communication with all SIFT-holders. Over the coming weeks we have key news, SIFT-holder votes, dividend payments and account transparency information to provide on an ongoing basis. We will be updating our website but if you want to see the latest we recommend joining our @SmartIFTNews Telegram where broadcast announcements will be made. We would also recommend that you join our newsletter since we will be sending announcements there as well.
We'll finish where we started - with a massive thank you to everyone who has helped make SIFT possible. Not only have we seen funds raised but we've also seen a great community created around SIFT and we look forward to carrying this on. Thank you.