Aergo’s Token Generation Event (TGE) and Token Distribution Event (TDE)
Aergo’s Financial status
Aergo systems were initiated with the will to curb various flaws that were experienced in other blockchain operations already existing. Blocko, a leading blockchain firm in South Korea, boasting over 25 million active users of products from Blocko, including Coinstack, set up Aergo in a bid to eliminate problems within the blockchain ecosystem. Also, the protocol’s initialization was aimed at advancing efficiency of blockchain transactions within the blockchain network. Aergo is a not-for-profit organ of Blocko, which aims at developing Aergo protocol that will revolutionize blockchain operations, especially in speed, security, and usability. Blocko being the parent company for Aergo has been the significant contributor and supporter of the Aergo protocol development. Also, with an aim of improving public and private blockchain networks, the project has been financially intensive. The management thus came up with ways to increase funding for the project.
Aergo’s Tokens
In a bid to increase funding to Aergo’s development, the systems' management has generated tokens to be sold. Upon the sale of the tokens, the funds generated are then deployed equitably and rationally to relevant courses. For instance, for the funds generated from the tokens, 40% of these proceeds will be invested in research and development of Aergo’s protocol. Another 30% of these proceeds will further be used in training various parties within the blockchain ecosystem on Aergo’s solution concept. As the project is not-for-profit, the remaining 30% is allocated for marketing and other business related operations that improve its productivity through a more extensive consumer reach.
These 500 million tokens have a hard cap of $ 30 million. Money raised from the sale of these tokens will assist to develop the protocol into the desired blockchain system. In an initial private consultation, some private firms have already invested in the protocol, with most of these firms already running Blocko components including apps and coinstack. The investment by these contributing companies with a value in excess of $28 million which has already taken place is essential for advancing the development operations of Aergo.
Token Distribution
The planned token distribution involves predetermined equitable allocation of tokens generated to specific categories of the system. This allocation facilitates the development of the protocol, as the developers' community is bound to receive a portion of the tokens generated. Most notable of the distribution is the pledged investment of over $3 million on Aergo’s community mainly rewarding developments that have added value to the general output of the project. Specifically, members with considerably high value addition to the development of Aergo may be awarded up to $50,000 tokens’ worth.
The Impact of TDE and TGE
Both TDE and TGE form a source of significant funds that may be deployed to the protocol development, which would otherwise stall. Selling these generated and distributed tokens provide a platform for raising funds which may further be used to develop the testnets and mainnets of the Aergo project. Completion of these milestones will greatly influence the public relation with this protocol, and as such develop enthusiasts who may further be willing to purchase the ICO. Also, rewarding the developers using these tokens assists to motivate the developers.
Congratulations @carolinepsimom! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Congratulations @carolinepsimom! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!