Dear All,
Since the start of our pre-sales in mid-February and throughout the Pre-ICO and the current ICO, the team in iP2PGlobal has made significant progress in developing the critical blockchain components for the iP2PGlobal P2P personal financing platform. These developments were completed using mainly our own internal funds and some cash investments we received during our Pre-sales campaign.
The state of our iP2PGlobal P2P personal financing platform . . . .
With the completion of the 'Blockchain' component, especially the Tawarruq financing & escrow smart contracts, further works will now only relates to the web application (front and back-end) development. To ensure an ongoing smooth progress in the development of the iP2PGlobal platform we will build it on top of our existing, tried and tested iP2Pmoney.com's P2P lending web application.
We now plan to launch iP2PGlobal P2P platform during the 4th quarter of 2018. This new platform will have slightly different features from the one we envisaged in our ICO's whitepaper but will achieve its aims of providing a global, fair and representative P2P Crypto lending platform.
And introducing iP2PDirect . . . . .
I am also pleased to announce that our team has just completed the core development of another exciting product which will be named iP2PDirect, in comparison to iP2PGlobal P2P platform the development of iP2PDirect was fully funded by our own internal funds.
iP2PDirect is a peer-to-peer marketplace where users can buy and sell ETH & ERC20 tokens to each other, using fiat money via direct bank transfer. As per our iP2PGlobal platform, IP2PDirect is another product that we hope will disrupt the crypto market by making it easier for people to purchase cryptocurrencies. The target launch date of iP2PDirect will be in August 2018, and the countries we will be launching during the first phase will be China, Hong Kong, Indonesia, Malaysia, Philippines, Singapore, South Korea and Taiwan.
In conclusion . . . .
Based on the developments above we as the management of iP2PGlobal Ltd, have come to the conclusion that iP2PGlobal Ltd no longer need to rely on our current TWQ token ICO to raise any initial capital for the development of the iP2PGlobal P2P platform, therefore we have taken a decision to STOP the ICO campaign for Tawarruq or TWQ token with immediate effect.
Therefore;
I) All ETH that we have received during the Pre-ICO and ICO campaign will be returned to the crowdsale subscribers within the next 14 working days from the date of this statement. TWQ tokens will NOT be issued to these subscribers.
II) The majority of the cash we have received during Pre-sales will also be returned to the private investors within the next 14 working days from the date of this statement. TWQ tokens will NOT be issued to these private investors.
III) As for the people who have received TWQ during airdrop campaign, your TWQ's holding is still valuable, please read below.
IV) For our many supporters who have joined our referral and bounty program and who have worked hard to spread the news about TWQ and iP2PGlobal throughout all these months, we will be issuing the TWQ bounty due to all of you within 21 working days from the date of this statement.
TWQ moving forward . . . .
Once ready the iP2PGlobal P2P platform will still require the use of TWQ tokens, without the TWQ tokens users cannot submit any loan application to the platform.
Moving forward:
I) we will fix the price of TWQ to 0.0004 ETH per token,
II) we will NOT be listing TWQ token in any crypto exchanges.
III) Users who wants to buy and sell TWQ token in the future can only do so directly through the iP2PGlobal P2P Platform itself or through our iP2PDirect App where TWQ will be one of the ERC20 tokens listed in the marketplace.
We value your support . . . . .
We always value all of your past support and we hope for continuing support, so keep following us in our current social media channels and chat channels, and don't forget to visit our website for new developments, especially nearer to the launch date of iP2PDirect next month.
Thank You,
James Loy
Chief Executive Officer
July 4, 2018
