January 03, 2018
Dear GFT supporters and presale participants,
Over the last few months, we had numerous conversations with representatives of banks and financial organizations located in 4 jurisdictions. However, we haven't reached an agreement that would satisfy our requirements by means of low-cost worldwide payment settlement. Without payment provider, GFT Network will be unable to keep the declared service fee rates on global gift certificate transfers.
In this light, we have decided that the best approach is to terminate the project and refund all our GFT token holders as we feel that it's the right thing to do in order to protect our early supporters.
Starting January 3 at 6:00 PM (UTC+0) the trade in GFT/XLM will be open on Stellar Decentralized Exchange (accessible from any Stellar wallet with DEX support or stellarterm). We will place a buy order to buy back all tokens at 2.0317 XLM per GFT. Owners of GFT tokens will thus be given the opportunity to sell all their tokens for a fixed price per token (~ 1.77 USD per token at the moment of publication). This refund process will be carried out automatically before January 12, 2018.
Upon refund completion, all GFT-related public services and websites will be terminated.
Please contact our support team (firstname.lastname@example.org) in case of any additional questions. We will work with our community on a case by case basis.
Our team is deeply sorry to make such announcements, but we have no choice at this point. We are really grateful to our supporters who believed in us and shared our vision.
GFT Network Team