Tierion Token Sale — Summary & Survey Results

Thank you to everyone who participated in the Tierion token sale on July 27th. Our team is making final preparations for the launch of the TNT token and the Tierion Network. Here’s an update on the numbers from the sale as well as the results from Tierion’s post sale survey.

The Numbers

We successfully achieved our goal of reaching a broad audience who is interested in supporting the Tierion Network.

Total purchasers = 5500+ Total USD = $25,354,187.94 Price per TNT $0.072440536

Please note: these numbers have been adjusted slightly after the final reconciliation of all transactional data. The original posted amount was $25,310,910.

Process

Overall the token sale process went smoothly for our customers. We received many compliments on the site’s ease of use. Several recent token sales experienced security and scaling issues. Our team was proud that the Tierion token sale had no major problems.

Upon the opening of the sale, several thousand people registered for an invite code and entered the queue. The system processed the queue in an orderly manner. Total sale took just over 24 hours to complete.

No token sale is perfect. We experienced a few minor issues.

1. The progress bar on the web site didn’t move for the first two hours of the sale. This caused some confusion among those watching our token sale.
2. A small percentage of people didn’t receive their confirmation emails. Our team was able to diagnose and correct this problem before the close of the sale.

A small number of transactions had issues. We will be contacting each buyer to resolve the transaction. If the transaction is not able to be resolved, the funds will be returned to the originating address. At this time, we expect to resolve 100% of the outstanding transaction issues.

Survey Results

We send out a survey to everyone that participated in the token sale.

Over 90% of respondents found Tierion’s token sale site easy to use. Our team worked hard to design a token sale user-experience that matched the design quality of our existing products.

Nearly 94% of purchasers found the information on the token sale web site easy to understand. t4

About 2% of purchasers didn’t receive their confirmation emails. Our team identified this issue and worked quickly to resolve it during the token sale.

Over 88% of respondents are interested in running a Tierion Node. We’re thrilled to see such a high percentage of people interested in directly participating in the Tierion Network.

Conclusion

Token sales are complicated. The best-practices, technology, and service providers that support token sales are still immature. Teams should be prepared to spend thousands of man-hours planning for and executing the sale. We think there’s room for improvement. Tierion will be sharing more about what we’ve learned in future posts.

I’d like to thank Glenn Rempe and Jason Bukowski. Their heroic efforts made the Tierion token sale go smoothly for our customers.