The community has shown support for the updated White Paper concept, enabling us to move forwards in a compliant manner.
In the light of new and clearer regulation for blockchain and cryptocurrencies being published across several different jurisdictions over the course of the last few months, we recently set out a series of proposals that would change our White Paper to ensure our token model is compliant. This, in turn, would enable us to move forward within the new regulatory framework, thereby allowing us to access new and existing markets without fear of losing these relationships in the future.
Two weeks ago we launched a feedback process, allowing the community to voice their opinions on the proposals using the software we have already developed. TIME holders were invited to lock their stake within a smart contract, and submit their responses to the updated White Paper — weighted in proportion to the amount of TIME they hold. Our community is our strongest asset and it is enormously important that we bring you with us on this journey.
The feedback process is now over and we are pleased to announce that the proposals have gained support from the community. Thank you to all who participated!
The results of the opinion gathering process were as follows:
- A total of 215 689 TIME tokens were used to submit feedback
- 211 139 TIME were used to submit a ‘Yes’ response
- 4 549 TIME were used to submit a ‘No’ response
Therefore ‘turnout’ was 30.37%, with 97.89% stating approval for the proposals.
This means that we can move ahead with the changes with strong support from the community, cementing the new status of TIME as a utility token that is compliant with US securities laws and, by extension, likely every other relevant jurisdiction. This opens the door to new business partnerships and listing on new exchanges.
We are very grateful to our community, both for confirming their approval for the changes and for participating in the feedback process in the first place. It is very important to us that we have such an active and engaged group of token holders.
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