A BREAKDOWN OF THE CRYPTOGENE ICO

Source


Hello steemians! In our previous post we attemptedattempted discussons on the various projects within the cryptogene hub. You can visited hereto get intimated if you missed it.


To actualize these various projects, however, and meet its objectives, the cryptogene needs funding and that is the essence of its Initial Coin Offering(ICO). The funding it need is placed at $2.5 million maximum; and $1 million minimum.


In the broad sense, the cryptogene ICO has two phases:

PHASE ONE(pre-ICO): This ran between August 10th and august 10th 2017(ie two weeks). Obviously, the pre-ICO was a success.

PHASE TWO (ICO proper): This second phase is currently running and would end in a couple more days. It is the final phase of the cryptogene ICO. A total of about 3,000 000 CGT are earmarked for sale during this phase.


The second phase is furher divided into four stages. Each of the stages runs for five days in a week with limited amounts of the cgt token for distribution in each


The juice in the second phase ICO is its bonus scheme which are set thus: 40% for stage one, 30% for stage two, 20% for stage three, and 10% for stage four.


The schedule for the second phase with its bonus rates is as follows:

WEEK ONE: NOV. 4TH – NOV. 9TH(400 IE 40% CGT/1000 CGT PURCHASED)

WEEK TWO: NOV. 10TH – NOV. 14TH(300 IE 30% CGT/1000 CGT PURCHASED)

WEEK THREE: NOV. 15TH – NOV. 19TH(200 IE 20% CGT/1000 CGT PURCHASED)

WEEK FOUR: NOV. 20TH – NOV. 24TH(100 IE 10% CGT/1000 CGT PURCHASED)


Also to spice up the ICO is the referral scheme which runs throughout the duration of the ICO – 10% referral bonus for every purchase made.


From available data on the cryptogene whitepaper, the cryptogene token distribution is set as follows:
"Of the 50, 000 000 CGT issued,
50% is to be distributed to the public through ICO
20% to be reserved for the developers and founders
20% reserved for future stakeholders
10% for marketing."


Below is a screenshot of how the funds raised in the ICO would be spent on each of the projects discussed in our previous post.

Also here is a snapshot of the cryptogene project road map.

Credit: These screenshots are were taken from the cryptogene website. I hope they are useful.


Now should you key into the cryptogene ICO? What basis have you to do so apart from the obvious financial gains?

Please stay tuned.

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*This post is my participation in the crypto knowledge writing currently run by @airhawk-project. You can view it here. I bet your contribution wuld be valued also if you choose to try your hands on it.

References: https://cryptogene.co