An ICO is basically an Initial Coin Offering. In an ICO, an organization pitches a white paper to the investors which is a documentation of the technology that the token aims to solve. All the investors who take part in an ICO have to invest either their BTC or ETH and they are delivered a token in return. The better a technology, more the investors invest their money. Once a token hits an exchange, good coins backed by a star team gets 5x almost immediately on getting listed.
Just recently Bread came up with their ICO that made a new record. Bread is a offering a token called BRD token. Their main aim is to let users hold their funds independently in a mobile wallet. Users will be able to enjoy a lot of benefits including things like discounts, less transaction fees and sequential tiers of complementary or exclusive access to premium features, and full white glove service for their most elite customers.
Bread had a Presale target of 12 million which was successfully completed and they reserved 5 % of their crowdsale which was 20 million tokens.For the first time, Binance played host to an ICO where the brand reserved 5% of the crowdsale to be bought in exchange to BNB.
Surprisingly the wholesale went sold out in just 2 minutes.
— binance (@binance_2017) December 19, 2017
Here are the details:
- Token name: Bread (BRD)
- Total Token Supply: 88,894,087 BRD
- Total Supply On Binance’s Launchpad: 7,000,000 BRD
- Supported Sessions: BNB (3,500,000 BRD), ETH (3,500,000 BRD)
- Token Sale Price: 1 ETH = 900 BRD (the BNB to BRD rate will be adjusted based on the BNB price on the day)
- Launchpad Session Time: 2017/12/19 12:00 PM – 2017/12/26 12:00 PM (UTC)
- Sale terms: First come first served basis
- Individual Cap: Up to 5,000 BRD in each session
This is unlike other ICOs which we see, Usually ICOs last days, if not weeks before getting sold out. Most of them even don’t even achieve their target. Bread token does look like a very promising token and once it hits an exchange it is sure to break all the records. If you missed the train then wait for the exchange listing to happens and grab as many coins as possible.
The bread token had an ICO which was full of rush, everyone wanted to get their hands on the token sale that happened on Binance. Finally the bread team has come up and decided to give away free bread tokens to participants of the ICO irrespective of the amount of BTC/ETH you gave. There were a lot of people who wasted their transaction fees. Here is the statment by the bread team:
“If you sent any transactions to the first smart contract between the hours of 2AM and 4AM GMT, December 16th, you will receive a payment of ETH equal to the fees/gas you spent on these transactions.”
There is also a free airdrop scheduled, bread is distributing 30 Bread tokens to all the participants who participated in the crowd sale. Here are the conditions to receive the free airdrop tokens:
- Sent a transaction to the first contract between 2AM and 4AM GMT, Dec. 16th.
- Sent a transaction to the second contract between 4AM and 6AM GMT, Dec. 16th.
What remains to be seen is how the token performs when they hit any exchange which in bread token case will be Binance.