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Its been a while since the last progress updates were published, and we have a lot of news to share.

Current status

During the last two months, GFT Network team has been working on the marketing material preparation for public service launch and platform improvements. The only thing still missing is the official financial institution behind the project.

Negotiations with potential partners take much longer time than expected. Although multiple banks and companies expressed intense interest in GFT Network, the existing legal system and regulatory requirements do not cover blockchain operational routines and taxation procedures. Such conditions result in continuous discussions with lawyers, management, and official regulators. Despite the confidence in the planned result feasibility, we have to admit that we are behind the schedule described in project roadmap. The GFT Treasury funding phase and service launch are delayed.

Due to this situation, our team decided to reach required tokens liquidity by establishing a partnership with consumer-oriented services and bring GFT tokens to online retailers in the first place, while our CFO and lawyers keep working on the original plans.

Currently, our developers are preparing the platform for API integration with 3d-party services, and we are planning to launch first online sale widget powered by GFT tokens in the following month. The roadmap and information on our website will be updated to reflect corrected plans.

GFT buy-back program

Our goal is to build a financial instrument fully trusted by people and companies. We appreciate credit of trust our community supporters gave us by purchasing GFT tokens during the presale phase, and we want to reassure you that we follow our liabilities. Lately, one of our early adopters sent us an email with the presale refund request. Following the principles of free exchangeability and circulation, we are establishing GFT buy-back program. Since today we will be regularly setting orders on the Stellar decentralized exchange, so anyone will be able to exchange GFT tokens back for XLM at the presale price.

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