A statement from the Casper Association regarding its current token sale on CoinList.
To the Casper Community -
Yesterday, the Casper Association completed the first phase of its historic token sale on CoinList, one week before Casper’s highly anticipated mainnet launch. The CSPR token sale drove unprecedented demand — the sale, only one-third of the way complete, already has the largest participation ever on CoinList. We are charting new territory, and we want to extend our gratitude to the entire community for supporting the Casper Network and being a part of this record-breaking milestone.
We went into the CSPR sale with one goal: to distribute tokens widely, transparently and compliantly to as many qualified buyers as possible. The CSPR CoinList token sale was 10x oversubscribed soon after being announced. The overwhelming interest is a testament to the sophistication of Casper’s technology and the strength of our community. It also meant we would inevitably be unable to distribute tokens to every individual who was qualified and eager to participate. In response to the demand, on March 10th, we increased the token sale allocation from 10% of the total CSPR supply to 16%, growing the public supply from 1 billion to 1.6 billion tokens. This doubled the token allocation for the Option 1 token sale from 400m to 800m CSPR.
At the start of the March 23 Option 1 sale, we had more than 230,000 unique registrants on CoinList. Option 1 sold out in 2.5 hours, with 18,181 participants purchasing 800,000,000 CSPR tokens. Option 1 of the token sale proceeded as it was designed to, with full transparency. We worked with CoinList to do everything we could to ensure as many qualified individuals were able to participate, but we know the majority of registrants were unable to do so.
We understand that because of the unprecedented demand there is some anger and frustration from people who weren’t able to participate. We want to communicate firmly that Option 1 of the token sale proceeded as it was designed to, with full transparency, and with no changes to the process since it was originally announced. The token sale FAQ included an explanation of the precise structure of the sale, including the waiting list and queuing system. The process has remained the same since the sale announcement, and the details have been publicly available for all sale registrants. We encourage all registrants to revisit the CoinList Casper page and read all relevant information regarding the sale.
One last thing...
In response to the overwhelming interest in CSPR, the Casper team is currently working with CoinList on an additional opportunity for our community to participate. Details are currently being worked out, and we will share the specifics of this “Option 4” as soon as we can. Please be patient and stay tuned!
The Casper community has been a strong, passionate, and critical part of the Network’s growing ecosystem. We know this token sale did not proceed as each individual hoped. The demand for the CSPR token sale is evidence that we are at the dawn of a new era of blockchain technology and Web3. There will be more than enough options for people to participate in the Network in the months and years to come. DEVxDAO recently launched to support the growth of Web3 technologies with a grants program for developers, startups, and entrepreneurs - beginning with the Casper Network.
We look forward to continuing to work with this community to build an incredible ecosystem together!
The Casper Association
