“Decentralized Cloud” Company Dfinity To Close Its Biggest Airdrop Soon
June 8, 2018 1:18 pm
The Registration Period Of Largest Airdrop Ever Will Come To A Close
The enrollment time for what one startup claims to be the biggest airdrop ever will arrive at its end soon.
“Decentralized cloud” agency Dfinity published its token distribution plans last week, and, revealed in an explanation that it will provide 35 million Swiss francs (about $35 million) worth DFN tokens to “hundreds of thousands” of community members. The organization, which purports to be a “blockchain computer with unlimited capacity,” will launch its system after later this year with the point of stake a claim in the generally aggressive market of aspiring blockchain cloud computing services.
Supported toward significant tech guru Andreessen Horowitz and crypto support fund Polychain Capital, Dfinity is also in the procedure of directing a private sale of its forthcoming cryptocurrency, the conclusion of which the company says will push its total funding of about $200 million.
As unlike other companies in the space, Dfinity has eschewed token distribution through an ICO in favor of what could be called a “compliant airdrop.” In practice, this means Dfinity community members must undergo and pass a know-your-customer (KYC) and anti-money laundering (AML) confirmation facilitated by AngelList spinoff CoinList before they could profit from the massive token giveaway. June 8 will be the due date for finishing the procedure.
CoinList formed its consistency tool (also dubbed Airdrops) to provide a mean for token issuers to conduct airdrops without disregarding securities laws. In spite of this, Dfinity is still excluding what’s U.S. citizen and residents from participating and cited “regulatory uncertainty” as its rationale in a Medium announcement.
Dfinity group members who can partake every stand to gain around $500 to $2,500 worth of tokens and the individuals who have followed the projects’ different community channels longest will accept their tokens first.
Unlike other different blockchain projects, Dfinity has not conveyed out fundraising on the ethereum blockchain, meaning it has not sold ERC-20 tokens as “placeholders” until it starts its technology in full. As such, KYC/AML verified community members must wait for the network actuation to accept their tokens.
Dfinity expects to launch its blockchain in quarter four.