ViaBTC Has Raised $30 Million During The ICO On Bitcoin Cash Blockchain
Mining pool ViaBTC carried out the first ever initial coin offering (ICO) using the Wormhole protocol and Bitcoin Cash blockchain.
Within a little more than two hours ViaBTC managed to raise $30 million. The new token is called ViaBTC Token (VIAT). The total supply of coins will be 2 billion, of which 750 million have already been distributed during the ICO.
According to the representatives of the company, the coin opens access to additional services. VIAT can also be used as a “privilege-token”.
VIAT will be used in the so-called “double mining”. The latter will allow miners to receive not only a standard remuneration, but also VIAT coins. At the same time, payout of new tokens will be carried out in four stages. According to representatives of ViaBTC, the coins will serve as an additional incentive for miners.
A referral program that allows ViaBTC users to earn extra income by inviting friends. In addition, VIAT provides an opportunity to reduce pool fees, open access to “exclusive user support”. You can also buy some mining accessories, souvenirs from ViaBTC and services of BTC transaction accelerator.
According to the whitepaper, a part of VIAT tokens will be redeemed on a quarterly basis by the company and “burned”. This, according to ViaBTC, will allow to implement a “deflationary model” that provides price stability.