Dear PARKGENE Supporters,

We are delighted to announce the launch of our new website, as promised, found at https://genewalletnew.wpengine.com. The new site implements the first of our two-step approach for the peer-to-peer PARKGENE service, with the GENE Wallet being an integral part.

In this first step we allow parking space owners to list their space with the PARKGENE service, thus making the spots available for drivers who will be looking for parking in their area. This service is made available worldwide and users can list their parking spots wherever they live.

The two-step approach is important to acquire the critical mass of parking spots needed, before we make them publicly available to our drivers. It’s also an important time to do user testing and to optimize the service.

We continue to work towards the commercial roll-out of PARKGENE Service and we plan to release the Mobile Apps and Web Booking service on June 4th, 2018.

We are looking forward to the community’s engagement and enlargement. To that end we will soon announce our referral reward scheme for our members to invite their friends to join and become part of the Global Parking revolution that PARKGENE introduces today.

Please feel free to register and list your parking spots so you are ready when we open for business. Every new user will receive 50 GENE tokens to spend within the PARKGENE service (not intended for trading in exchanges).

We will keep you posted on our progress.

The PARKGENE Team.

In order for the ICO participants to receive their tokens is to go through the KYC procedure.

Given the big number of participants and in order to proceed with the distribution of the GENE tokens in a timely fashion we will distribute the tokens as soon as we reach 90% of KYC completion. We will alert all the remaining participants and give them time to complete the KYC, when done we will send them the tokens as well.

This process is only needed for the ICO participants, not the bounty hunters.

Following we are providing you with the steps to complete the KYC procedure and prepare your profile to receive the GENE Tokens.

1. Visit https://tokensale.genewalletnew.wpengine.com and login with the account you used for your ICO participation
2. In the top bar you will will see the “KYC” option. Click it.
3. Fill all your data as needed in the KYC form in order to be evaluated. All fields marked with * are obligatory to proceed
4. That’s it. Your data will be processed and you will be informed about the status of your KYC
5. In case you have any problems please email us at [email protected]

All participants and Bounty Hunters need to provide their ETH (ERC-20) wallet address in order for us to send the GENE Tokens. Anyone who has not provided the ETH (ERC-20) wallet address will not be able to receive tokens.

To complete this task

1. Visit https://tokensale.genewalletnew.wpengine.com and login with the account you used for your ICO participation
2. In the top bar you will will see the “Profile” option. Click it.
3. Provide your ETH (ERC-20) wallet address in the field “ETH Address”. If you do not have an ETH (ERC-20) wallet address you can create one at Myetherwallet.com or use our GENE Wallet on your Android Device by downloading it from here
4. That’s it. You only have to wait for the Tokens to land to your wallet. We will keep you posted.

SINGAPORE, ATHENS, LONDON. Thursday January 25, 2018

PARKGENE announced today that it offers downside and upside protection against cryptocurrency volatility for GENE token holders.

“Having listened to our community’s concerns regarding the volatility of their cryptocurrency positions, we have decided to help alleviate the concerns of crypto appreciating or depreciating during the course of our ICO, offering guaranteed protections, both in the upside as well as the downside”, said Nikolas Skarlatos, CFO of PARKGENE.

The Volatility Protection scheme is further detailed below with the following two protections offered:

1. Up to 20% upside guaranteed

If the digital asset exchanged for tokens appreciates, the token holder will get extra tokens up to 20% of the upside.

2. Downside protection against any downside risk

If you have purchased GENE tokens using cryptocurrency, we will lock the number of tokens against the crypto price at the time of the purchase.

More specifically, below you can find the upside-protection level based on participation:

If the digital asset exchanged for the tokens appreciates, the token holder will be able to benefit from this as his tokens will be recalculated up to a certain percentage based on volume (see table above).

Please note:

• These recalculations will only involve the tokens allocated from the sale transaction. The adjustment does not apply to bonus tokens.
• Recalculations are made daily (for reference) and the final calculations will take place on February 19, 2018 or at any point that our hard cap is reached and the ICO is sold-out.

To better understand how the Volatility Protection works please see the examples below:

Example 1: You’ve purchased 95,000 GENE with 1 BTC at $9,500 USD/BTC. At the end of the ICO, BTC has appreciated to $13,000 (a 36.8% appreciation) you will receive 15% more tokens. (14,250 additional tokens)

Example 2: You’ve purchased 95,000 GENE with 1 BTC at $9,500 USD/BTC. At the end of the ICO, BTC has fallen to $7,000 (a 26.3% depreciation) your purchase is not affected by the price decline

Example 3: You’ve purchased 95,000 GENE with 1 BTC at $9,500 USD/BTC. At the end of the ICO 1 BTC has appreciated to $10,500 (a 10.52% appreciation) you will receive 10.52% more tokens (9,994 additional tokens)

PARKGENE is closing it’s Pre Sale ICO today. The CEO (Ilias Louis Hatzis) writes a weekly post on Daily Fintech (the Blockchain Bitcoin & Crypto Weekly CXO Briefing that comes out each Monday; see later today). I have a high regard for Ilias, so count me biased on this one.

I am no expert in parking, but I have done enough to understand the pain point. I also know that I would be quite happy loaning out my parking space for cash. I can also see that this is a good use for a Utility Token – you basically prepay for your parking.

Although I don’t know much more than the average Joe about parking, my years as an entrepreneur and advisor helps me to recognise  a smart, driven entrepreneur when I meet one. Ilias Louis Hatzis scores that front.

Daily Fintech is written by entrepreneurs for entrepreneurs – so please wish Ilias good fortune on his journey.

Source: https://dailyfintech.com/2018/01/15/parkgene-ico/

Bernard Lunn is a Fintech deal-maker, author, adviser and thought-leader.

You can reach out directly to discuss our advisory services by sending an email to julia at dailyfintech dot com

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