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Nearby token sales have been postponed after CoinList was overwhelmed by demand

August 12, 2020

The long-awaited token sale for the NEAR protocol of the decentralized application platform (DApp) has been postponed for 24 hours According to CoinList, the exchange hosting the offer crashed at the scheduled launch time.

Originally scheduled for 10 a.m. ET on Aug. 11, The token sale was postponed 24 hours after the CoinList was flooded by prospective traders. His Twitter account received a deluge of complaints the dealers who planned to participate in the offer.

Unhappy buyers compared the debacle to similar failures that occurred during the platform’s initial token sales during the platform 2017. Although a large number of people are complaining that they cannot access the platform, the Screenshots Published on WeChat suggest that some participants have successfully invested in NEAR.

Nearby token sales have been postponed after CoinList was overwhelmed by demandNearby token sales have been postponed after CoinList was overwhelmed by demand

The token sale is on planned to begin on Aug. 12 at 10 a.m. ETand it will be NEAR’s last offer before its mainnet goes live.

Participants can choose to invest in three different token tranches;; The first option offers tokens with a holding period of 40 days for USD 0.40 each and stacks of coins that are planned for linear publication over 12 or 24 months from the start of the mainnet at a price of USD 0.34 or USD 0, 29

The first tranche is capped at 25 million tokens and total sales are capped at a total of 100 million tokens. It is open to accredited investors outside of the US, China, Belarus, Cuba, Congo, Iran, Liberia, Myanmar, Sudan, Syria and Zimbabwe.

The false start of token sales comes after a strong year on CoinList offerings.

In May, CLabs raised $ 10 million to develop its Celo blockchain network in a Dutch auction that sold out within 12 hours. 509 investors from 62 countries took part in the offer. In March, Solana’s Dutch auction, valued at $ 1.76 million, was also sold on CoinList.

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