The Snips AIR ICO Is Live

Talha Yakeen
Sep 6, 2018 · 3 min read

Our goal at Snips is simple: to provide the first Private by Design, decentralized voice assistant. In order to achieve our goal, it is of paramount importance that we create an active community of developers and users that believe in our vision as much as we do.

Since we believe in the power of blockchain to federate communities around a common goal, we opted to do a public token sale, without any private sale. If the community doesn’t want to contribute to creating Snips AIR and make it a reality, then we might as well not do it since this would be an indicator that the product and privacy value proposition is not appealing enough. Basically, if you want to buy Snips AIR devices when they come out, you should want to buy AIR tokens today!

Our token sale is designed to be as fair and inclusive as possible, which means:

  • enabling as many people as possible to participate, even if they don’t currently hold cryptocurrencies
  • making the purchasing process as seamless as possible, even for non tech-savvy buyers
  • prioritizing those that want to help build Snips, such as our developer community, evangelists and future users
  • protecting against “pump and dump” schemes that would be detrimental to the economy that we are creating long term

You should only consider participating in our token sale if you believe in Privacy as much as we do and are not afraid of holding onto your tokens during the time we are building the very product you are backing!

Token distribution

The Snips AIR token is the native token of the AIR network. The total initial supply is 10,000,000,000 tokens, not including future inflation. This large supply was designed to lower the cognitive load for consumers during everyday usage, as fractional prices tend to be harder to grasp.

The AIR tokens is used to govern and interact with the Snips AIR network and Snips AIR consumer products. As such, it is classified as a utility token, and does not give any rights as to Snips SAS (the company producing the tokens) or any of its subsidiaries.

The AIR tokens, whether purchased through the token sale, earned via our bounty programs, or acquired through any other means has multiple utilities:

  • governance of the network (voting for block producers, software updates, ..)
  • app store (purchasing apps, curation, app publication, reviewing, …)
  • machine learning (processing data, training models, contributing data, ..)
  • data generation (producing data, purchasing data, …)

Like any product feature, the tokenomics presented in the various documentations will be iterated on over time, and are not designed to guarantee any kind of return. They were built to maximize the product value over time and ensure active participation from the self-governed Snips AIR community.

The initial AIR tokens will be distributed as follows, with each pool having different release schedules.

Token Distribution

Taking into account the inflation used to reward validators and stakers, and considering the release schedules of each token sale pool, as well as a an expected growth in active users of the system, we expect the total circulating supply to grow from 3.6B tokens in 2018, to 11.7B tokens in 2025.

Talha Yakeen

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#SEO #Wordpress #freelancer #blockchain #crypto #followback

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