Acta Finance Regrets to Announce Cancellation of IDO with Paid Network
Today we regretfully bring you the unfortunate news that due to Paid Network’s recent decision, the planned IDO on Ignition will no longer be taking place.
Paid Network has stated that although they recognize the great potential of Acta Finance, they have decided not to conduct the IDO on their platform at this time. Acta Finance was not provided with specific details on why or how they arrived at their decision and thus cannot give the community more information than what was communicated to us. That said, we must move forward respectful of their decision.
Paid Network- IDO Cancellation Notice- March 17th, 2023, 5:53 a.m UTC
“Over the last few days, we have been reviewing Acta Finance as part of our newly established DD process where we conduct follow up DD for delayed launches. We had several conversations internally after our calls and finally came to a decision.
Although we think that Acta Finance has great potential, we regret to inform you that at this point we will not be conducting your IDO on Ignition. Please note that to protect the integrity of our review process, we cannot provide you with details on why we have made a decision one way or another.
Additionally, we are currently fully focused on upgrading our tech stack and will be unlikely to do launches in the immediate quarter as the new mechanism will need proper marketing, UAT etc.
That being said, should you have any other questions or require help in any way, we continue to be at your disposal and we really look forward to seeing what you guys will launch.”
Solution Despite the Setback
Although this was unpleasant news to receive, our priority is our community. This in mind, Acta Finance would like to assure our members who held PAID tokens in anticipation of our IDO that we are committed to providing them with an alternate and secure opportunity to invest in Acta Finance. Therefore, we will be setting up a Google form for those who bought PAID tokens to invest directly in our IDO. These individuals will receive a guaranteed investment amount and can invest directly instead of through PAID Ignition. Further details and access to the Google Form will be announced during the AMA on Monday in our Telegram Community Channel.
In the meantime, the team has requested the return of the 592,592.592 ACTA that were sent for the IDO to the Paid Ignition address: https://snowtrace.io/address/0x67a3A8dD6Ac54A6F850f46F5c644FF9068A8546B#tokentxns
We understand that this may come as a disappointment to some members of our community, and we share in that disappointment. However, we remain committed to delivering on our promise of providing innovative and intuitive DeFi tools to our users. We will continue to keep our community updated on any new developments both from a business perspective and a tech perspective.
For any questions or concerns, please do not hesitate to contact us. We will be hosting an intimate Q&A session with our CEO on our Telegram Community Channel on Monday March 20th, at 3pm UTC and will do our best to thoroughly answer any and all of your most pressing questions. We appreciate your ongoing support and look forward to TGE and to fulfilling our mission of empowering users with our dynamic ecosystem.
The Acta Finance Team