At 23.59.59 GMT on the 14th of October 2017 the Kexcoin ICO closed on schedule.
In the 30 day period that the ICO was running we raised a total of:
- 193.57 BTC or $1.1m.
- We sold a total of 76,963 Kexcoins.
Our minimum fundraising goal was $5m. This was the minimum amount of money we would need in order for the project to be profitable and therefore viable.
With a bit of simple math you can see that we missed our minimum fundraising target and thus the project cannot go ahead. So the Kexcoin project is hereby cancelled.
We will now be refunding all participants in the ICO by buying back Kexcoins for the same price we sold them for which was 0.0025 BTC per Kexcoin.
While the Kexcoin project is not going ahead, many participants have made a huge profit purely by the fact that they tied up their Bitcoin’s for up to 30 days, during which time Bitcoin soared in price to $6,000.
So while on the one hand the project is not going ahead, many people are happy that they have still managed to make a profit by default :)
We have written a step by step guide on how to sell your Kexcoin and get your Bitcoin back at the following link.
If you haven’t done so already, please go through that process to receive a refund for the Bitcoin you pledged during the ICO.
Once we have completed the refund process for all participants the Kexcoin project will be complete and will officially come to an end.
We have no immediate plans to restart the project.
If you have any questions please post them in the official Kexcoin chat group here: