This is the Consensus AI project investor update.
First and foremost, I’d like to thank you for being an investor and early supporter of the Consensus AI project. Our mission is to use the advancements in artificial intelligence technology to improve the collective decision-making, and you helped us get one step closer to making it a reality. I sincerely thank you.
After the sale completion, there were a number of questions that arose from some investors. This update addresses the questions asked, but if you have any further comments, please don’t hesitate to contact us by email or telegram.
SEN price
The strategic investor sale price of SEN was $0.03375. Some investors (depending on the time of the investment and the strategic value they brought) received a bonus allocation of tokens, giving them an effective price of $0.0225-$0.0250 per SEN token.
The price was locked in ether at the end of the sale period, March 20th, 2018, with the average price of ether on that day, $551/1ETH.
Some investors expressed concerns regardingthe price of ETH on the day on the closing vs the date they invested on. We have structured the sale to lock the price in USD ($0.03375), collect the contributions in ether, and to lock the USD/ETH exchange rate at the end of the sale. Ether price fluctuated during March, but most of the contribution were collected before the drop in ETH/USD exchange rate.
To address the fluctuation in the ETH exchange rate, we closed the sale on March 20th and decided to reduce to total supply of the tokens increasing the SEN token value.
Initially, the token supply offered for sale was 2.7B tokens, and the final token supply at the end of the sale is 1.65B tokens. This reduced supply values SEN after the sale at $0.05532.
Here is the SEN token smart contract address: https://etherscan.io/token/0xd53370acf66044910bb49cbcfe8f3cd020337f60
SEN token listing on trading platforms
Following the sale, we noticed some of the decentralized trading platforms listing SEN tokens. We haven’t listed/requested to list SEN on any cryptocurrency exchanges yet, so the trading that is happening at the moment is private deals.
We are actively working with the leading cryptocurrency exchange platforms at the moment and we will regularly update the community regarding the progress. Our goal is to provide the opportunity for as many people as possible to own SEN.
How much SEN does the team have? Do you participate in trading? Is the foundation selling tokens?
The team doesn’t hold any tokens and doesn’t participate in trading. The foundation reserved a supply for the future funding round that will be offered to later stage investors (traditional venture capital funds etc.). All of the unsold tokens at that time (if there are any) will be burned and the corresponding amount will be factored into the network mining schedule.
Airdrop participants getting native Sentient coin vs SEN token investors
As you may have seen, we issued an update regarding the airdrop distribution, informing that the participants will receive the native Sentient network coin upon the network launch (https://medium.com/consensus-ai/march-2018-consensus-ai-project-update-2-70534cc30c18).
In addition to the airdrop distribution at the time of launch, we will provide a way for all SEN holders to swap the tokens for native network coin, 1-to-1. Please follow our updates on social media and email newsletters.
etherscan.io
Consensus Token (SEN) ERC20 Token Tracker
The Ethereum BlockChain Explorer, API and Analytics Platform