MustangChain Token Sale: To Soon Come into Effect
MustangChain is an attempt to redefine and develop the billion-dollar equine industry by implementing blockchain technology as a solution to rid the system of the flaws. It appears that the project will be focusing on eliminating systemic fraud, inefficiency and limits.
In particular the MustangChain team believes that there aren’t enough policies in place to verify equine passports and identity-related data, an alternative to traditional paper systems is much needed and the lack of a single platform can deteriorate the industry’s overall quality.
As for their mission, MustangChain strongly believes in the fraud proof authentication to ensure equine data is on par, and to create a shared platform in which the community, including stakeholders like horse breeders, merchants, trainers, veterinarians and many others have access to services provided.
Recently, MustangChain has announced the first round of its token sale, which will be held as a “Private Round” set to take place on June 11th. Following that are three rounds, which have been dedicated to the VeChain Community, Public and the last, which is yet to be confirmed, but considered a “Special Round”.
It has been also established that a total of 27.5% of the tokens available will be distributed across the different rounds available. In particular, the Private, VeChain Public and Special Rounds will see a circulation of about 12, 7, 6 and 2.5% of existing tokens respectively.
The Private Round has been created specifically for its partners and funds and will take place June 11th, 2018. The entirety of this round will be done through e-mail, leaving out US and Chinese participants. Should parties excluded in this event have interest, further communication must be done with the team. In this round, for every 1 VET (VeChain currency) invested, users will get 5,200 MUST tokens. The minimum and maximum per individual is apparently 15,000 and 75,000 VET.
The VeChain Round has been created for VET and VeChain X-Node holders. As for the limits in place, X-Node holders will only be able to invest between 100 and 30,000 VET, whereas those holding economic nodes and VET tokens will be able to invest between 300 and 3,000 VET. Details regarding the date of sale, is yet to be disclosed.
Once the VeChain Round comes to an end, the doors will be open to the public. However, there does not appear to be enough information available at the moment, especially the date and VET to MUST ratio. As for investing in the MUST tokens, users will have the option of anywhere between 100 and 2000 VET.
According to the claims made, MustangChain will keep 2.5% of its tokens aside, and might conduct a special round depending on the outcomes of the previous rounds.
For more information regarding them MUST Tokens and the project altogether, go to: https://mustangchain.io/