Tel Aviv, Chains.com, a multi-product cryptocurrency platform and launchpad, has announced the end of its token sale.
With over 500,000 registered users, Chains has begun offering its CHA utility token for sale amid cryptocurrency market turmoil, closing the sale with over 58,000,000 CHA tokens sold on November 30th. CHA tokens, available on Ethereum, Tron, BNB Chain, and Polygon networks, were offered exclusively to KYCed users while the sale was conducted in compliance with SEC rule 506c.
1,600,000,000 of the CHA tokens allocated initially to the sale will be burned immediately and not released to the market. Moreover, the tokens sold during the sale are subject to an 8-month vesting schedule, with 12.5% of sold tokens being released every month. The sale was conducted on a pricing curve, with the price per token ranging from $0.0099 to $0.023
CHA will shortly be listed on Bitmart, a leading cryptocurrency exchange with a daily volume of over $300,000,000 USD.
Founder and CEO, Anderson Mccutcheon said: “Bear markets are all about building the next generation of products, and we are proud to keep developing and shipping in such a challenging environment.”
“Providing services to over half a million users is a challenging and rewarding experience, and we are delighted by both the completion of the sale and the upcoming listing on Bitmart,” concluded Anderson.
Chains, a Seychelles International Business Company, was founded in 2020 with a view to simplify the cryptocurrency and NFT experience for non-technical users and create a gateway to access the space and relevant services on one platform.
CMO of Chains.com