CYO ICO suspended as of 30th of October 2018
From the beginning, for cleyond doing the ICO for the CLEAN LOOP technology respectively creating the CYO token represented one of several financing options. In the meanwhile, however, we’ve learned that traditional financing instruments seem to match the market need / our companies’ offer better. The doors of opportunity open more readily via those approaches.
Even though we enjoyed the support of great implementation partners and advisors for IT, marketing, as well as the tricky issue of legal regulation, the market environment for a Germany-based ICO still represents itself as a problematic ground to walk on. Our ambition for quality was eating away enormous amounts of time and nerves to a point where the legal base in Germany proved as disadvantageous (think the small possibilities for token creation due to unclear or existing regulation).
Today, we are very much at peace with pursuing this innovative approach up to this point. Looking at the business from the “ICO” perspective triggered living up to international standards sooner, challenged the whole team to think bigger and helped create new business opportunities.
Therefore, this approach might very well become interesting again in the nearer future, especially in the case that vital steps paving the ICO ground in Germany through market players such as the Stuttgarter Börse or the “BaFin” become a reality. At the moment, however, we choose to deprioritise the option ‘ICO’ to focus on other options providing the important CLEAN LOOP technology optimum opportunities for success.
We want to thank you for all the positive feedback the project has received so far and especially the people that already bought CYO token. Of course, everyone who already bought CYO token will receive reimbursement for their purchases at the correct exchange rate within the next weeks (until 30th of November latest).
Last but not least, we look forward to each of you who will stay tuned in the development of CLEAN LOOP via the respective social media channels on Twitter or by connecting with us on LinkedIn.
Thanks again and see you in the cleaner future
Disclosed information in accordance with § 5 TMG:
Telefon: +49 8331 / 96 667-0
Andreas Nold, chairman
Jürgen Pfister, head of the supervisory board
Cleyond AG is registered
with the commercial register of the local court of 87700 Memmingen under HRB 17635.
Key visual on the front page by photographer Zak Noyle (valid license as of July 2018), other pictures copyright cleyond AG or as indicated.
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