Internet of Coins Token Sale (ICO): Enabling cross-chain economies with hybrid tokens - Smith + Crown
Internet of Coins is launching a blockchain that intermediates value transfers between independent networks using a Hybrid token. Hybrid is a set of meta-tokens created on various blockchain networks that are independent, but function as a single currency. Hybrid acts as a representation of value across all the network’s they are deployed on. Users can purchase hybrid tokens on exchanges and then use them to hold value across multiple blockchains.
The infrastructure for the unified hybrid token economy is provided by the weavechain, which is a self-pruning blockchain that functions as a decentralized currency exchange. At launch, weavechain will be able to process exchanges between Bitcoin, Ethereum, NXT, Counterparty, New Economy Movement, and Lisk.
Allocator nodes facilitate exchanges by providing liquidity to the network. In return for staking some of their token holdings, allocators are rewarded with a portion fees collected over the network. Price stability for Hybrid is provided by an algorithm that monitors the token supply of hybrid on different blockchains and makes price adjustments accordingly.
|Role of token:||PoS rewards of fees for Allocator nodes|
|Token supply:||7 million|
|Distributed in ICO:||1 million for early bird investors, 6 million for crowdsale|
|Emission rate:||New coins created when new blockchains added to the network|
|Mainnet release date:||Quarter three, 2018|
|Sale period:||March 21st, 2017 to June 21st, 2017|
|Token distribution date:||July 1st, 2017|
|Minimum investment goal:||$300,000|
|Maximum investment cap:||$7 million|
|How are funds held:||Funds administered by the NLnet Foundation|