Mars Frontline | Nervos raised nearly $70 million and completed the token public sale one day ahead of schedule

Text | Linzhong Road

According to the data from Mars Finance, the public chain project Nervos (token: CKB) has exceeded the public offering. As of 10:50 am on October 24th, Beijing time, the platform showed that $69,493,755.16 had been raised, and there were still 18 hours before the end of the public sale of the token. The target amount of the public sale was $67 million, and the sale plan has been exceeded.

Nervos launched a public token sale on the Coinlist compliant crowdfunding platform on October 17, and the total subscription amount reached 53.8 million US dollars in just one second after the sale started. This token public sale is open to users around the world. CoinList is the only channel for the sale of CKB tokens, and the sale price of tokens is 1CKB = 0.01 US dollars. The initial total supply of tokens released in the Genesis block will be 33.6 billion CKB, and Nervos will use 20% of the initial total supply for public sales.

Tokens purchased by investors will be released in the Genesis block (the genesis block of the Nervos Common Knowledge Base) at the launch of the mainnet, currently scheduled for the fourth quarter of 2019. The initial circulation at the launch of the mainnet is expected to be 12,375,988,800 CKB.

In a previous interview with CoinList, Nervos co-founder Kevin Wang said that Nervos aims to become a multi-asset platform with long-term sustainability. The Nervos Common Knowledge Base (CKB) is the first layer of the Nervos network and the storage layer of the value blockchain protocol. It allows any crypto asset to be stored with the security, immutability and permissionless characteristics of Bitcoin. It also supports smart contracts and second-layer expansion, and the total network value is captured in CKB tokens.