ARK, a company working to provide real-world blockchain use cases, has launched a token sale today, November 7, which the team calls the “Token Exchange Campaign” (TEC).
Disclaimer: This article is sponsored by Bitcoin PR Buzz.
The campaign will last 34 days, ending on December 11. During the TEC, the ARK team hopes to sell 93,750,000 tokens, 75 percent of the total 125 million token supply.
According to a press release, the other 25 percent will be retained by developers to pay team members, fund the ARK Shield project, and to fund bounties. Additionally, 1 percent of the funds held by developers will be kept in escrow.
TEC participants can purchase tokens with bitcoin, Lisk (LSK), and any altcoin supported by ShapeShift. The team has also organized a bonus structure for the TEC, which they call “aggressive” and is aimed heavily towards Lisk users.
For those purchasing tokens with Lisk, the ARK team is offering a 120 percent bonus during the first 24 hours of the TEC, with an exchange cap of 22 million LSK.
According to a development roadmap on the team’s website, the TEC will be followed by a launch of the token’s main net. The roadmap reports that the network’s full node software is “openly distributed.” In this same stage of development, the team plans to release lite clients for desktop, as well as start forming business entities.
Scheduled stages after the TEC and Main net launch include the rollout of a P2P payment card network, their distribution, and the integration of InterPlanetary DataBase.
ARK: Building Everyday Cryptocurrency Use Cases
Since it was started, the ARK project has worked on developing its cryptocurrency ecosystem to help stimulate consumer adoption through building practical applications for everyday use cases.
At press time, the ecosystem consists of four technologies: Core, Bridge, Shield, and a decentralized voting system. More details about each of these projects can be found on the team’s official website.
More information about the TEC can be found here: https://tec.ark.io/
What do you think about this new cryptocurrency ecosystem? Will you participate in the TEC? Let us know in the comments below.
Images courtesy of ARK.