Papyrus successfully raised $500,000 at TGE Round 1

The first Papyrus token sale, TGE Round 1, is now complete, and it was a huge success!

The last few weeks have been really intense for our team. We worked 24/7 to prepare for the launch on October 12. Then, during the sale, our team went into overdrive — no, make that mega-drive — working without sleep for days on end, making sure every one of our valued participants was fully supported. Many participants asked us for help and the whole team worked together to make sure everyone was happy. Now we can relax a little, take a breath and talk about our results.

We’re very proud to report that our team easily handled all issues with top security. We did not doubt the safety and security of the collected funds for a moment. Even during peak load, our site was working, and was secure, and we were able to provide tokens to all comers.

Of course, the sale was not without a fly in the ointment. One episode showed that not all of our subsystems were ready for the real world: in the first hours after the sale started, some participants weren’t able to buy tokens because of undetected errors. Fortunately our team found the bugs and fixed them fast, and we learned a few invaluable lessons for the future. We’re now more confident than ever that we can pull off the next token sale without a hitch.

For TGE Round 1, we sold 676,899 PRP tokens, collecting 1,149 ETH and 19.59 BTC, which at current exchange rates is approximately $500,000 USD. This is a fantastic indicator that the market and community believes in Papyrus.

What’s next?

1. Tokens will be distributed to token buyers before November 23, 2017.
2. As many readers already know, we have successfully deployed the initial prototype of the Papyrus ecosystem. Now we preparing live demo to key players in the ad market. Details on this process will follow.
3. The dev team is actively working on the architecture of the decentralized log storage, which will make all the supply chains between ad market participants absolutely transparent. 
4. No less important is the continuing growth and interaction of our partnerships. In October, Papyrus joined the IAB’s Blockchain Working Group. During the next few months we will continue establishing new partnerships with industry players to promote our ecosystem adoption.
5. We are preparing a private sale of Papyrus tokens to secure additional capital to scale the team and increase the speed of our product development.

That’s all for now. Thanks for reading, and stay tuned!

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