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token-reschedule.html
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<title>Token Reschedule | DAV - Decentralized Autonomous Vehicles</title>
<meta name="description" content="DAV is a blockchain-based transportation platform which enables vehicles to discover, communicate and transact with one another using DAV tokens."/>
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<br>
<br>
<p>ZUG (25 April, 2018)</p>
<p>Hello DAV Community!</p>
<p>We are pleased to announce that our presale is proceeding nicely. We have closed and collected 24,000 ETH in presale contracts so far, with several offers outstanding. The markets have shifted to a generally positive trend, which is decidedly helpful. Overall everything is looking up!</p>
<p>We also wanted to give you an important legal regulatory update. During the time that DAV has been making exciting public announcements about the technology and our expanding alliances, DAV’s legal team has been quietly and diligently working in the background with the Swiss Financial Market Supervisory Authority (the Swiss regulators known as FINMA) concerning the DAV token. At this point, while our discussions are required to be confidential, we feel hopeful. Based on an expected review time, we hope to receive a formal letter from FINMA within the next couple of weeks.</p>
<p>Such a letter will provide DAV with improved regulatory certainty for its public token sale, something we feel could make the DAV project stand out in the current environment. The letter represents a significant opportunity to have a formal assessment of the token and thus we have decided to push back the start date for our token sale to June 11, 2018.</p>
<p>We know how excited you are about contributing to DAV and we share that excitement! The DAV team is committed to executing the best project possible, and we feel this change will help us and our community realize that goal.</p>
<p>Notably, many projects have cancelled their public sales in favour of presales that involve 100% of the token allotment. The DAV Foundation remains committed to offering a significant portion of the token sale to the public, despite the considerable legal overhead that public sales introduce. We feel this is the best approach towards launching a truly open, public, decentralized network, and thus we still intend to halt the presale upon reaching our internal ceiling, regardless of the timing of the public token sale.
<p>We are very grateful for your support, and will keep you apprised along the way.</p>
<p>With much respect,<br>The DAV Team</p>
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