Announcement of Company Liquidation and Asset Distribution
This is an official announcement from Contents Protocol Team.
We inform you that due to continued regulatory uncertainties in cryptocurrency and lack of business prospect, we have decided to end our project.
Based on the legal opinion and advisory from law firms in Korea and Singapore, we will convert our remaining assets to ETH and distribute it on a pro rata basis to CPT holders who have requested ETH compensation until specified date. The company will go through liquidation process and the CPT we currently possess and collect through this process will be destroyed.
We inform you that due to continued regulatory uncertainties in cryptocurrency and lack of business prospect, we have decided to end our project.
Based on the legal opinion and advisory from law firms in Korea and Singapore, we will convert our remaining assets to ETH and distribute it on a pro rata basis to CPT holders who have requested ETH compensation until specified date. The company will go through liquidation process and the CPT we currently possess and collect through this process will be destroyed.
CPT Collection & ETH Distribution Procedure
*The Official ETH Distribution Procedure (February 19th 2020 ~ May 31st 2020) has been finished.
If you still possess CPT, please follow the steps below and ETH will be distributed in a month.
If you still possess CPT, please follow the steps below and ETH will be distributed in a month.
*If you do not follow the procedure (1~7) accurately, you cannot receive ETH.
1. Create "Your Own Metamask Wallet" (How)
2. Send your CPT to “Your Own Metamask Wallet”
*In order for your CPT token to be shown on your metamask wallet, Click "Add Token" on your metamask -> Then click "Custom Token" menu -> Then, add CPT contract address : 0x9b62513c8a27290cf6a7a9e29386e600245ea819
3. For gas fees, send some ETH to “Your Own Metamask Wallet”
4. From “Your Own Metamask Wallet”, send your CPT to address below:
Address: 0x4116984cd831158104e635d4e7e47c215414a412 (Copy)
5. When your CPT transfer is complete, please copy the Transaction Hash
6. Submit your “Compensation Application Form”(mandatory)
7. ETH will be sent to “Your Own Metamask Wallet” within a month.
*We can only send ETH to “Your Own Metamask Wallet” address from which you sent your CPT, so please follow the accurate steps above. We do not take responsibility for any loss occurred due to inaccurate procedures or mistakes.
**Announcements regarding liquidation of the company and distribution of ETH will only be posted on this Webpage. Beware of scams and information coming from other unofficial channels.
Please refer to following information for CPT : ETH distribution ratio :
The company raised a total of 29,333.77 ETH through ICO (private and public token sale).
The amount available for distribution to CPT holders is total of 26,877.68 ETH.(rounded to 2 decimal places)
The current circulation supply of CPT is 3,193,326,669 CPT.
Therefore 0.000008416826443 ETH will be given for 1 CPT. (About 0.84 ETH for 100,000 CPT)
>> Please refer to the chart below for more details
The amount available for distribution to CPT holders is total of 26,877.68 ETH.(rounded to 2 decimal places)
The current circulation supply of CPT is 3,193,326,669 CPT.
Therefore 0.000008416826443 ETH will be given for 1 CPT. (About 0.84 ETH for 100,000 CPT)
>> Please refer to the chart below for more details
This project was to collect consumer data from content platforms like WATCHA and WATCHA PLAY, by rewarding the platforms and their users with cryptocurrency (CPT). Then the data would be processed and
analyzed to be sold to content providers, creating a better content production ecosystem.
However, there were numerous difficulties in encouraging participation from content consumers because of their negative perception toward cryptocurrency, price volatility and complex user experience. It was also a challenge to bring in content platforms who would provide data to Contents Protocol. With limited capacity in data collection, it was difficult to provide useful insight that could help content producers.
Moreover, along with the team's view that the society's perception and business environment for cryptocurrency will not be improved in the short term, it was also unclear when legal and accounting guidelines on cryptocurrency will be set, providing uncertain legal and accounting risks.
In order to overcome these limitations, the team went through numerous trials and errors, but after serious deliberation, we decided that it would be best to put a stop to this business and return our remaining assets to CPT holders.
Sincere gratitude to everyone who has supported our project.
Contents Protocol Team
>> Inquiries on ETH Distribution : cpthelp1@gmail.com
However, there were numerous difficulties in encouraging participation from content consumers because of their negative perception toward cryptocurrency, price volatility and complex user experience. It was also a challenge to bring in content platforms who would provide data to Contents Protocol. With limited capacity in data collection, it was difficult to provide useful insight that could help content producers.
Moreover, along with the team's view that the society's perception and business environment for cryptocurrency will not be improved in the short term, it was also unclear when legal and accounting guidelines on cryptocurrency will be set, providing uncertain legal and accounting risks.
In order to overcome these limitations, the team went through numerous trials and errors, but after serious deliberation, we decided that it would be best to put a stop to this business and return our remaining assets to CPT holders.
Sincere gratitude to everyone who has supported our project.
Contents Protocol Team
>> Inquiries on ETH Distribution : cpthelp1@gmail.com