MustangChain, a project providing blockchain powered solutions for the equine industry, has released more details about its Initial Coin Offering (ICO).

If you missed the introduction of mustangchain, you can read our post on the mustangchain project. You can find the announcement of the ICO details in the official medium post.

MustangChain token supply

The total supply of MUST tokens created will be 100 billion tokens. This supply will be divided as followed:

• 27,5% – Token Manifestation event
• 20% – Community and Marketing
• 15% – Business development
• 15% – Advisors and partners
• 12,5% – Reserve for future R&D and operations
• 10% – Team and founders

27,5 billion tokens will be sold during a token manifestation event to raise funding for the project. The hard cap for this sale has been set to $20 million.

The mustangChain token manifestation event

During the token manifestation event, a part of the MUST token supply will become available for investors to buy. The token sale will take place in three separate rounds, with a possible special fourth round to take place in the future.

Private round

The private round has now started and is meant for strategic partners that will offer long-term benefits to the mustangchain platform and community. If you feel you can offer this you can contact the MustangChain team using: info@mustangchain.io.

All $MUST bought in the private round will require a lockup with 25% of the tokens released every 3 months.

Private round details:

• Round start: 11th of June, 2018
• Round end: not yet announced
• Discount: 25%
• 1 VET = 5200 MUST
• Max: 75.000 VET
• Min: 15.000 VET

Vechain community round

All users who have at least 100 VET in their wallet can take part in the Vechain community round. During this round, depending on how much Vechain a user has, and if the user has an X-node, one can get exclusive discounts and rights of purchase.

Authority and Mjolnir X-members will require a lockup similar to the one during the private rounds, other members that buy during the Vechain community round will not require a lockup.

Community round details:

• Round start: not yet announced
• Round end: not yet announced
• Discount: not yet announced
• 1 VET = not yet announced
• Max: 30.000 VET (X-node) or 3.000 VET (other)
• Min: 100 VET (X-node) or 300 VET (other)

Public round

Once the Community round has finished, the public round will start. The public round is open for everyone. No lockup is required for tokens bought during this round, and no discounts will be offered.

Public round details:

• Round start: not yet announced
• Round end: not yet announced
• 1 VET = not yet announced
• Max: 2.000 VET
• Min: 100 VET

Special round

In the situation that the hard cap hasn’t been reached in the previous three rounds, MustangChain might hold a special round.

If this special round will happen as well as the details during this special sale will be at the discretion of the MustangChain team and announced at a later stage.

Once we have more information about the community and public rounds we will update this post!