For the past five months, the DACSEE team has made substantial progress in both product development and increasing the user base of our drivers community. We successfully launched the DACSEE app in Malaysia and within this short period of time, we now have over 30,000 drivers in the Malaysian community.
The results we have accomplished so far is a testament to our commitment to this project and serves as a firm foundation for DACSEE’s next phase of growth. However, we admit that we have underestimated the importance and care that should have been put into communicating the project’s latest status to the people most important to this project – our community members. We sincerely apologize for this oversight. We wish to reiterate that trust is the most important value in this journey to champion our mission – ‘for the community, by the community’.
The DACSEE public sale was set to end on May 31, 2018. However, after careful consideration, we have decided to extend the token sale to July 23rd, 2018 for the following reasons:
- We are in discussions with several potential institutional investors in Asia and the United States and multinational corporations from Malaysia and Japan for strategic partnerships. Some of these firms are in countries that require more time to obtain the necessary approvals than what we have anticipated. Should we conclude the public sale in May, these institutions will not be able to participate in the project. Furthermore, at all times, we adhere to best practices to protect our partners and contributors taking into account the rapidly growing and changing legal landscape in the industry.
- Compared to the existing ride-hailing companies, DACSEE is trying to achieve market implementation at a fraction of the cost spent by big corporations. While traditional ride-hailing companies are raising and spending billions of dollars, DACSEE is trying to achieve our mission with just USD120 million. Unfortunately, the lacklustre market conditions in recent months have made our efforts more challenging.
- DACSEE is a real world implementation project, not a software roadmap. To better serve the long term interests of our contributors, we intend to launch DACSEE across several regions (countries), thus creating a healthy organic demand for the DACSEE tokens. Extending the token sale will mean we have a better opportunity to meet our goal of serving the long term interests of our contributors.
We want to assure all our supporters that we will stay true to our commitment of working in the most ethical and transparent manner. To protect the interests of our supporters and move this project forward, we have come to this difficult decision to extend the public sale period. We humbly ask for your generous understanding in this decision and to continue to stand by us, just as you have, thus far.
Last but not the least, DACSEE team would like to express our sincerest gratitude to all our community members and early believers for helping us realize the vision of creating a truly decentralized ride-sharing platform. We are in the midst of exploring a variety of options to acknowledge and appreciate the support of early contributors who have helped bring the DACSEE project to life. We will be announcing these in the coming week, so please stay tuned and watch this space! Thank you.
The DACSEE Team