Parallel mining blockchain Kadena mainnet launches third $20 million token sale

The Kadena network mainnet, a project initiated by the former head of JPMorgan's blockchain, was launched and a $20 million token financing plan was announced.

Kadena Mainnet Released and Kadena Coin Mining Started

According to the announcement, Kadena has launched the mainnet Chainweb and released the wallet Chainweaver. The company plans to conduct a third token sale financing from November 5th to 22nd.

According to its website, the launch of the Kadena mainnet means that miners can participate in its public network and mine the Kadena coin KDA.

Founded in 2016 by former JPMorgan blockchain developers Stuart Popejoy and Will Martino, Kadena is a parallelized proof-of-work mechanism designed to improve throughput and scalability while maintaining security and integrity.

Kadena Dual Structure Token Sale

Kadena’s $20 million token sale will be conducted on the token sale platform CoinList. Kadena’s token sale will be divided into two types, namely for qualified investors and unqualified investors.

On the non-qualified token sales page, investors outside the United States can also purchase Kadena tokens at a price of $1/unit. In the first 40 days, the tokens can only be traded on CoinList, and then they can be freely traded on other platforms.

The second type of token sales will be conducted through the Simple Agreement for Future Tokens (SAFT), which is only open to qualified investors in the U.S. and overseas. Investors can purchase at a price of $0.5 per token, but according to the rules of SAFT, these tokens will be locked for 1 year.

According to previous reports, Kadena completed a financing of US$14.9 million in August 2019. On August 28, Kadena also updated its enterprise-level blockchain platform on the Microsoft Azure market.