DEFIWALL launches its FIWA crypto through ICO
- ICO stands for initial coin offering – it is cryptocurrency’s version of an IPO or initial public offering
- DEFIWALL’s ICO has just launched, with the first phase occurring between November 5 and November 10
- DEFIWALL claims to be the “gateway to Web 3.0” – an all-in-one platform offering access to many things
In this article, we will look at the ICO of a new crypto project DEFIWALL. ICO stands for initial coin offering – it is cryptocurrency’s version of an IPO or initial public offering. Developers looking to obtain additional funds to create a new coin, app, or service can launch an ICO as a way to essentially crowdfund a project.
Investors are then provided tokens relating to the project, typically at a fixed rate, as a reward for being an early investor. DEFIWALL’s ICO has just launched, with the first phase occurring between November 5 and November 10, while the second phase is set to launch immediately after the closure of the first phase and would last for five days until November 15.
What is DEFIWALL and its token?
DEFIWALL claims to be the “gateway to Web 3.0” – an all-in-one platform offering access to decentralised exchanges, an NFT marketplace, and an attached wallet, the FIWA Wallet, to store digital currencies.
Specifically, DEFIWALL claims to offer “an easy way to keep all your unique ERC721 and ERC1155 crypto NFTs and game assets in one place”.
According to the DEFIWALL project, it Is designed as a democratised platform, with the option for users to stake a native token and in turn receive an annual percentage rate, or APR, yield. APR differs from APY (annual percentage yield) in that it only considers ordinary interest as opposed to compound interest. Risks aside, it is believed that many crypto enthusiasts tend to like projects that offer some form of staking reward.
In terms of the structure of the project, DEFIWALL is rather specific. Its token usage breakdown is as follows: 30% of tokens go towards liquidity and staking, 16% are dedicated to strategy development, 15% are reserved for the developers of the project – who at this stage are not identified – 12% are designed for ongoing development of the project, a further 12% are for public sale, 7% are for marketing, 5% are for seeding, and 3% are designed for the initial launchpad of the project.
Phase 1 and 2
Phase 1 of the ICO is currently underway via KICK.IO. This phase is offering 3 million FIWA tokens at a price of 3 US cents per token, with a minimum buy amount of 1,666 tokens or $49.98 US cents. The 3 million tokens represent 3% of the total supply – indicating a prospective total supply of 100 million tokens. Cardano’s ADA will be used to purchase the FIWA tokens.
Phase two of the ICO is set to occur via Dodo, with 2.5 million tokens on offer but with a price increase per token for ICO investors to 5 US cents. It would be too speculative at this point to make any prediction on this ICO because more information is required about the development team, and the whitepaper, while sufficient, is rather short.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
This content was originally published here.