Dear Investors,

We would like to thank you for your patience and update you with what is soon to come.

1. ETB to ETBS token swap.

We encountered an issue where not all investors have upgraded their tokens from the old to the new ETB contract. This caused issues with Cryptopia exchange, and paused trading for ETB.

We are going to resolve this issue by doing a token swap, the contract is already done and currently in audit phase. During the swap, old and new ETB tokens contracts will be swapped into a new token ETBS (new ticker). Nothing will be required from investors to do aside from having ETB tokens in a wallet that investors control private keys to. (Myetherwallet for example)

We ask you to withdraw ETB tokens from Cryptopia and Ether Delta before the token swap, which will be implemented in about 2 weeks from today. Cryptopia withdrawals are open for upgraded tokens and have been tested by Ethbits team, If you have any tokens missing on CRYPTOPIA from the old contract, which affected a few users, then the support at CRYPTOPIA should give these back to you (we don’t have access to their wallet), please contact them. As it stands we have no agreement to continue with CRYPTOPIA therefore we advise users should withdraw their tokens as soon as possible

Note: ETBS (new ticker) tokens will be listed on new exchanges and will be used to pay out dividends and fees in our local platform (same as before).

If you do not withdraw your tokens from exchanges you will be responsible for potential loss of tokens and you will potentially miss any bonus from Ethbits. Deadline will be announced shortly this week with a proper blog entry with every detail regarding this, you can start to withdraw from exchangers since now.

2. ETHBITS LOCAL

Our Local platform is in the final stages and NEW image is done and waiting for ETBS integration (swap contract) to be fully opened. We anticipate the swap and releasing the site by the end of August 2017. Shortly after, we will also release an official report which will cover our achievements, further look ahead and other relevant information.

Ethbits team will also be partaking in strategical partnerships and attending relevant crypto related events.

3. PROFIT SHARING

In August we intend to get the new token distributed and start paying back something to the holders of ETBS that has been made by indexing some of the ICO funds. Although Ethbits Local has made minimal profit during open Beta we have decided to release some funds back to the community for the support, as we promised in the ICO. The profit sharing amount will be paid out to our investors and will be based on a snapshot, the date and amount will be announced property in a separate blog entry shortly.

Note: To get future dividends you will need to have ETBS in the wallet that you control private keys to.

 

The ETHBITS team will remain at your disposal to clarify any doubts that may arise regarding this or any other situation.

Telegram: https://t.me/EthBitsChatroom
Slack: https://evening-springs-46451.herokuapp.com/
Twitter: https://twitter.com/ethbits
Facebook: https://www.facebook.com/EthBits/

Thank you for your time.

KIND REGARDS
ETHBITS