ICOs, the most preferred way to raise funds for cryptocurrency startups have been creating records lately. The recent Bancor crowdsale established a new record after it raised over $150 million in no time. As people become more open to the new mode of fundraising, projects with the potential to offer revolutionary breakthroughs in real-world applications can expect to garner more than enough support from individuals and seasoned investors alike, but in a more informal setting.
Block.One, an enterprise blockchain solutions platform has recently announced the upcoming launch of its token sale. The token, called EOS will be made available for purchase on Monday, 26 June 2017 to the cryptocurrency and investor communities. According to the company, the EOS crowdsale is one of the most eagerly expected ICOs in the community. Taking the recent successful ICOs into consideration, Block.One believes in the EOS token sale’s potential to breach the record set by Bancor ICO to become the biggest ICO of the season.
The company, interacting with the mainstream media outlets has outlined its vision for the EOS powered blockchain platform. They look forward to widespread usage of EOS among large firms to automate processes, monitor assets and to create various decentralized applications.
The available information suggests almost a yearlong ICO, selling 90% of the total number of tokens. During the first five days, Block.One will distribute 20% of the tokens, while the remaining 70% will be distributed over the next 350 consecutive days. After the initial five days, investors will be able to purchase a maximum of 2 million tokens a day.
With 90% of the EOS tokens eventually made available to the community, the platform will hold the remaining 10% of the tokens. The Ethereum protocol based EOS, after the first five days of the token sale will be priced based on the market demand.
In the words of Brock Pierce, the co-founder of Block.One; the EOS token sale will be truly democratized, allowing everyone to have an equal opportunity and access to become part of his company’s initiative.
Ref: Reuters | Image: NewsBTC