Token sale of Adab is complete and we want to summarize its results.
We view positively the completed token sale and continue working on the project with a great enthusiasm.
We were not able to achieve our sales targets, but there were objective reasons for this and our results were significantly better than could be expected in the current market situation.
During the time of token sale, we sold 45.5 million tokens and another 13.6 million issued as a bonuses.
Additionally, we have accrued about 2 million tokens for the services rendered.
Thus, the total emission amounted to 61.1 million tokens.
In April and May of this year, Adab Solutions Company and affiliated Adab Solutions Group conducted the IEO on 4 exchanges.
The ADAB Token will not be traded on the IDAX exchange due to the incompatibility of the IDAX exchange requirements with the principles of Islamic finance. All IEO members, who already invested in ADAB token on this exchange, will receive back their investment.
About 5 mln Adab tokens were sold on the BitForex exchange and about 5 mln Adab tokens on the Bit-M and Bit-Z exchanges.
Despite the low level of sales of tokens on these exchanges, the process of selling tokens was as transparent and fair as possible.
We absolutely do not associate this level of sales of tokens during the crowdsale and IEO with a fair assessment of the project. There are a number of objective reasons, as the state of the market and the possibilities of the platforms on which IEO was conducted, which were overestimated by us, but our assessment was based on publicly available information and the course of negotiations with the exchanges.
The company believes that the real value of the project is immeasurably higher and our performance should prove this in the near future.
Summarizing the above, the total volume of Adab tokens issued on the crowdsale was 71.1 million units.
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