Waves Tokens Pre-Sale Launches Today
Blockchain platform Waves launches its ICO (Initial Coin Offering) at 12 a.m. GMT today.
The project’s team intends to create a decentralized version of Kickstarter to successfully compete with existing crowdfunding projects. The team stresses that Waves is not yet another cryptocurrency, but a blockchain system with strictly defined functionality.
“WAVES is a decentralized blockchain platform focusing on custom blockchain tokens operations. National currencies transfer is maintained on the WAVES blockchain through compliant gateway operators. Decentralized token exchange facilitates fundraising, crowdfunding, and trading of financial instruments on the blockchain. Lightweight clients provide an easy installation procedure and a flat learning curve for end users,” the platform’s whitepaper reads.
The team took account of disadvantages inherent in existing blockchain-based crowdfunding solutions, like token volatility (like in case of NXT AE), and general scarcity of options for investment. Waves will enable users to attract investment in fiat currencies (EUR, USD), bitcoins, and Waves tokens themselves.
In order to participate in ICO, one shall get a password for an account at the platform’s website. Having received the password and accessed the account, one will see an individually generated bitcoin address for sending of funds.
Waves’ official blog states that those who buy tokens on April 12 will automatically get a 20% bonus immediately transferred to the personal account. Those who buy the tokens during the period of April 13 to 30, will have a 10% bonusÂ while the rest participants will get a 5% bonus. Upon the ICO’s completion later in May, 85 million tokens will be proportionally distributed among the investors.
The team raises the funds in BTCÂ while the entire information on the raised amounts will be also available on Ethereum blockchain. For that purpose, they created a special smart contract therein. All Waves tokens will be tradeable at a decentralized exchange complete with a reputation system.