Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
The Kadena network has launched its token sale in categories to all interested investors both in the U.S. and globally.
Kadena, a Proof of Work (PoW) public blockchain for smart contracts, has begun its token sale on CoinList. It began on Tuesday, Nov. 5, and will run until Friday, Nov. 22, 2019. The Kadena network boasts of highly scalable blockchain which runs the Chainweb protocol to ensure unmatched security and high throughput, promising to be a driving factor with the potential to serve as a convergence point for all interoperable chains including private and public blockchains and applications.
The Kadena token (KDA) is basically a digital asset used on the Kadena public chain for computation payment. Since the network also executes smart contract codes using the KDA, adoption is certain as the network slowly expands on the volume of smart contracts and more applications join and us the network.
The Kadena token sale is divided into two options for interested investors, which will run simultaneously.
- CoinList Non-US: This category is only available to interested entities outside of the U.S. Kadena plans this offering to be similar to an Initial Exchange Offering (IEO), allowing Investors to buy-in here, tokens that will only be available on Coinlist’s RFQ exchange soon after the token sale is concluded. The non-US investors will have access to a total of $10 million worth of tokens, at $1.00 each.
- CoinList Global: Just like the name suggests, CoinList Global will be available to all accredited investors worldwide, both within and outside the U.S. However, this offering category is a Simple Agreement for Future Tokens (SAFT) and the tokens will be unavailable until 2020. The locked up coins will then be released periodically, in three equal phases in Dec. 2020, Jan. 2021 and Feb. 2021. Investors in this category will have access to a total of $20 million worth of tokens, at $0.50 each.
Strategic Allocations include all other allocations for recipients of the KDA token, that do not fall under the two mentioned above. The coins here will be distributed to several people in the Kadena community including advisors, business partners, consultants and employees as well. KDA will also be locked up here and will be released periodically as well, over the next three years.
Kadena has so far already successfully raised $15 million from investors including SVAngel, CoinFund, Primitive and Multicoin Capital. The platform also boasts a team that includes alumni of some of the biggest companies in the world, including Microsoft, Google, J.P.Morgan and Accenture. Kadena was founded by two ex-JP Morgan execs including former blockchain lead Stuart Popejoy, as well as blockchain prototype lead engineer, Will Martino.
Kadena has also enabled the mining activity. Now miners have the possibility to solve blocks on Kadena’s public blockchain. Moreover, Kadena has completed two SAFT rounds with the first one selling 4.5 million coins at $0.50 back in 2017, and the second selling 17.2 million coins in the first two quarters of last year, at $0.75 each.