Ahead of Schedule — Lowering the Hard Cap
By Dave Howard, VP of Corporate Strategy at Pavocoin AG
As the ICO date is approaching, the Pavocoin team has decided to change our hard cap.
The nature of Pavo is to empower and include those who would otherwise not have access to state-of-the art technology, benefits and information. Pavo’s smart contracts on the blockchain will eliminate inefficiencies, resulting in fairer prices for farmers, particularly in developing countries, and will also provide farmers with access to better and more attractive financial services.
In keeping with this theme of democratizing access to financial services, Pavo is lowering its hard cap, to make the token of Pavo more inclusive and more useful. Making Pavo available to a wider audience is in the best interest of the AgTech ecosystem, our community, and everyone who needs to eat, which is everyone, as we strive to achieve global food sustainability, improved food safety, and increased food affordability.
Here is why we lowered the hard cap:
We have been able to rationalize the time and costs of our product development. We found that actual costs will be smaller than our preliminary estimates, and we don’t want to collect more funds than we need.
Our product development team has managed to do more with current assets and this means that we are ahead of our original schedule. Our deployments with major farms in California, and in Europe, and our proving our capabilities, which we will continue to do with planned deployments in South-East Asia.
Looking at our roadmap and realizing what our team has accomplished, we have shown that we are already delivering value to our customers.
Even as we lower the hard cap, our goal remains the same — transform agriculture with an IoT Blockchain platform and a corresponding digital currency with value for the entire ecosystem.
So, what are the changes?
First, we have lowered the hard cap: $30,000,000 USD
Our pre-sale and private sale continues, and we are pleased with the early indications of success.
The token price during the ICO will be: $1 USD + Bonus
Total token supply is: 200,000,000
Total token supply available for the crowd-sale is: 100,000,000
The minimum purchase amount is $500
In case of uncovered questions we’re glad to help you in our live Telegram group