The Pacio Seed Presale was closed on 15 November 2017 when 26.2% subscribed. The reasons for the disappointing result are clear:
- Inadequate marketing
- Value Proposition not clear enough for people to grasp readily
- The ICO market has become crowded, with some 75% of sales failing to reach their minima
However, the sale went off successfully technically, with no hacks, nor were any funds lost in the recent Parity multisig wallet vulnerability which “lost” some $150 million worth of other entities’ Ether, including that of some ICOs.
Further, the funds raised plus ongoing founder support are sufficient to carry Pacio for 7 months at the current low cash burn rate. As we won’t need 7 months Pacio is good.
The rethinking prompted by the result should result in an even better long term project, which will hopefully deliver good returns to those who did contribute, thank you.
We are re-working our ideas to make them more widely applicable, with clearer value propositions.
The Pacio site will be updated as this process proceeds.
Contributors to the Seed Presale whom we know have been advised of the process in greater detail.
If you contributed but have not so far identified yourself, please make contact via a site contact form or by emailing firstname.lastname@example.org, confirming the Ethereum (wallet) address you used to make your PIOE purchase, because we would like to be able to communicate directly with every Pacio supporter regarding plans and progress.
Even if you did not contribute to the Seed Presale, but are interested in the Pacio goal to help bridge the divide between traditional accounting and accounting plus real time management for the blockchain (or distributed ledger) era, we would love to hear from you. Please send any ideas or thoughts you may have via the contact form, or by email to email@example.com thank you. We would be delighted to continue the discussion and if feasible to take your views into account as Pacio develops.
Also published on Medium.