Havven a decentralised payment network has closed its ICO on $30m, closing in just over 90 minutes.
There were 3,000 participants registered across both sale phases of the sale and 25,000 people registered for the whitelist. The ICO was split, with $26m being sold during the EOI phase, with the remaining $4m coming from the main sale.
This ICO comes as the largest from an Australian cryptocurrency project, surpassing PowerLedger’s $27m last year, according to the company. Token distribution will begin following the audit process, which should be completed by March 16th.
Havven is a decentralised payment network that can support global remittance, trading on decentralised exchanges, everyday crypto purchases, and funding token sales, among others. The platform reduces price volatility by using a two-token system. Collateral is secured by the platform creating nomin tokens, which represents 20 per cent of the holders Havven tokens.
Each transaction generates fees that are paid to Havven token holders, and as transaction volume rises for does the transaction fees paid to holders.
Following the sale, Havven will use the proceeds to support the development of its network, and incentivise users on the platform. The company is looking to increase the R&D of its oracle functions and enable the use of other currencies.
According to the company’s roadmap, the next goal is the launch of the platform later in the month.
The company is launching a token airdrop, worth approximately $1m, for users can earn extra tokens if they signup to the program.
Last month online investment platform BnkToTheFuture closed its public ICO on $33m, following the $3m hard cap selling out in 2 minutes.
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