VinChain, a blockchain-based decentralized platform for vehicle information, launched its much anticipated ICO on February 1, 2018. The eager investors of the ICO contributed about $1.5 million at current prices with 1670 ETH in less than 24 hours.
Vinchain’s ICO for decentralized vehicle information platform
VinChain basically leverages the power of blockchain technology to provide the solution to the reliability of the purchased vehicle’s technical condition information. This project combines all the data providers to give the user an uninterrupted and complete vehicle record. All of this information but without the disadvantages of a centralized database.
Vinchain’s tokens will basically allow the user to check a vehicle’s history and will further make the transaction between parties absolutely transparent.
The ICO of Vinchain that will run from February 1 to April 15, 2018, will be held in stages, 7 to be exact. Each of these stages is limited to only a particular amount of ETH. Once this specific amount is reached, the next stage will begin. There is also a graduated bonus structure that ranges from 40 percent to 5 percent at each stage.
According to the information provided by Vinchain, these stages are divided as:
1st stage: from 0 to 1 290 ETH which is when you will be able to buy 28 000 tokens for 1 ETH
2nd stage: from 1 291 to 4 950 ETH sold and the price 1 ETH=25000 tokens
3rd stage: 4 951-8 610 with the price 1 ETH=24 000
4th stage: 8 611- 12 270 ETH sold and the price 23 000 tokens per 1 ETH
5th stage: 12 271-15 930 ETH sold and the price 22 000 tokens for 1 ETH
6th stage: 15 931-19 590 tokens sold and the price 1 ETH= 21 000 tokens
7th stage: 19 591- 23 250 with the price 1 ETH=20 000 tokens
The idea is the earlier you invest in the project, the more tokens you will receive. To get the maximum advantage from this opportunity, you should start with the first stage of Vinchain ICO.
How to get your VIN tokens?
In order to get started with this opportunity, you have to create an account on their website i.e VINCHAIN.IO. You would also need an ETH wallet where Vechain will send your tokens to. After this, on the basis of the currency you are using, the ETH purchasing process will begin.
Vinchain’s starting price for its ICO is, for 1 ETH you will get 20000 tokens along with the bonus that is based on how early you have invested. The total ICO supply is 600,000,000 tokens. Vinchain is accepting payment in BTC (bitcoin), ETH (ethereum), LTC (litecoin) and DASH (dash). The hard cap of the project is 23250 and the soft cap is 3300 ETH.
Vinchain is on Telegram channel and is available for any queries from potential investors 24 hours a day.
Vinchain ICO is a new approach in the automotive industry that is based on a decentralized platform. What are your views on this project? Let us know in our comments section below!
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I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.