The past price surge of cryptocurrency and especially Bitcoin gave an unprecedented rise to mining operations for cryptocurrencies, with most seeking profitable returns. Still, the scenario is very much alive with some ventures seeking to champion for noble causes from the profits one earns from mining crypto. Chrysalis coin is an example of such a development, with the token set to create an apparent mining operation with the proceeds going to fund global social purposes.
What Is Chrysalis Coin?
Chrysalis Coin is an innovative cryptocurrency deployed on the Ethereum platform that is set to help improve and support special needs children with cognitive and physical disabilities. With the help of blockchain technology, Chrysalis proposes to establish cryptocurrency mining operations from where investors can earn a profit while still get to fund and promote development programs for special needs children through sports.
The Economic Model Behind Chrysalis Coin
Initially, Chrysalis intends to use the ICO to purchase the initial batch of crypto mining equipment necessary for their operations. Once the ICO period is finished, Chrysalis intends to rely on gross revenue generated or reinvested in the form of company assets. From the gross revenue, Chrysalis eliminates the maintenance fees to establish the net revenue with the following structure
Chrysalis Coin Net revenue
- Investment portfolio- 10%
- Purchasing additional mining equipment– 20%
- Donations/Buy Burn strategy- 70%
Chrysalis Coin CWH Token ICO Details
- Pre-Sale- April 19, 2018 till May 13, 2018
- Main Sale- June 11, 2018 still July 21, 2018
Parameters Of The ICO
- Ticker- CWH
- Platform- Ethereum
- Accepts, ETH, BTC, BCH
- Token supply- 25 million
- Sale amount- 20 million
- Price rate- 1 CWH=$0.04
- Hard cap- $250,000
Chrysalis Coin Children's Crypto Project Conclusion
Overall, there isn't much to say about Chrysalis since it looks like a poorly executed project riding on special needs children and it is best to steer clear.