So now what? Delivering details
Probably you missed our Pungo Token nice infographics explaining our value proposition. Now, 1 month away from ICO end we already have moved directly to Step 3: Delivering & Scaling the project
I usually say we are not yet another ICO. Yes, I know you will probably think that you have already heard this song, however let us ANNOUNCE some details before you see our nice charts down the post
What is going on?
- Our ICO started on mid-september. We were not expecting to raise huge amounts given the bear market but we wanted a meaningful Token so we have spent the time to make sure our token was the right thing, even if we missed the ICO-fever.
- We have created a CRYPTO FUND filled by company revenues to back our token. That means our investors indirectly hold a CRYPTO FUND that has as its only purpose to buy back PGT (Pungo token) in the future.
- We partnered with a 3rd party INLEA FOUNDATION (based in Barcelona) through Openingchain Project to escrow the PUBLIC BUYBACK FUND. Foundation acts as transparency monitoring service.
- We have released a Crypto loaded debit card, a Fiat gateway and our Pungo Wallet supporting many coins even before ICO starts. Working products. You can try them already working together in Google play or at https://mobile.pungo.app
So what? Some announcements
While it’s exciting to be able to release this kind of product, a CRYPTO FUND built with our product revenue acting as a BUYBACK GUARANTEE, it’s even more interesting to hear about projects that already generate revenue and payouts even before ICO ends. That’s exactly our case.
PUBLIC CRYPTO BUYBACK FUND
- Accumulated Assets: So far 1829 KMD (value swinged between 1–10 USD/KMD per coin in 2018) coming from our 2 of 64 Notary Nodes we manage from Komodo Backbone. We are commited to send 10% of node revenue to CRYPTO BUYBACK FUND. Here they are.
- 1st January 2019: December 2018 commited company revenues (from Peer2krd & Peer2Cash) will be sent to PUBLIC BUYBACK FUND escrow accounts. Public report published for escrutiny.
Pungo Token (PGT)
- Today: Pungo token is supported by Pungo Wallet, which has reached already 200 users in a few weeks as Beta APP in Google play
- Next weeks: Pungo token is being added to Agama, Agama Mobile wallets.
- Within 1 month: Pungo token to be listed in DEX’s such as Barterdex & Hyperdex and several exchanges.
- BURN PROGRAM: We will BURN 100k PGT each month starting in OCTOBER at least until 2nd Round Sale. We have decided to set up a program to actively reduce supply from our token, this will directly benefit the actual holders and the early supporters of our project.
- 15th November 2018: Ending of 1st Public PGT public sale period.
- 1st December 2018: Company PGT holdings published on Opening Chain website by Inlea Foundation
- 1st January 2018: December Public Report available in Opening Chain site for public escrutiny.
- Token sale 2nd Round: 2nd sale round with price yet to decide during spring 2019. Price will be at least 0.5 USD/token. Raised funds over this price go directly to BUYBACK PUBLIC FUND.
Pungo token utilities coming to life
Having an Open Source wallet allows us to build the 1st layer of Token Holder decision-taking layer.
- We are publishing the Pungo Holder APP within the next 6 months (iOS, Android, Web)
- We will distribute ephimeral Blockchains to our PGT holders to VOTE PGT related decisions.
- We will allow PGT holders to make decisions on the composition of the cryptocurrencies of our PUBLIC CRYPTO FUND.
Our notary nodes were elected democratically by Komodo Community and we commited to share 30% of mining revenue for this period and 3% of our Pungo Token.
KOMODO middle-class AIRDROP
We commited to airdrop 2% of our tokens among Komodo community. We believe that to create a healthy and flourishing economy within an egalitarian and fair society there needs to be a huge amount of people in the so-called “middle class”. That’s why:
- We are airdropping 200k PGT among KMD addresses holding +10 KMD within next 2 weeks
- We airdrop the same amount of PGT to each address independently the amount of KMD the address holds.
The future for a token backed by a Crypto Fund
Why you should join our Pungotoken.com sale? We created this nice Infographic comparing traditional Equity with standard Coin Offering and highlighting how our Buyback option takes the best of 2 worlds.