CanYaCoins have been on a much-anticipated countdown, with both the cryptocurrency enthusiasts and the cryptocurrency confused watching closely. The Australian startup raised AUD$1.8 million (3660 ETH) in their pre-sale and has just launched their ICO.
The initial coin offering went live on the 26th of November at 8.30 pm (AEDT/GMT+11), and all reports say it launched with a bang. The CanYa team have revealed they have raised over $3.7 million in total and with the recent launch of their ICO. With 28 days for contributions to continue, they hope to use them to grow their community and platform.
ICOs have been extremely hot in the market, offering a different method to fund new ventures. ICOs are similar to crowdfunding campaigns and IPOs, only a stake in the company isn’t offered. Essentially, a percentage of the cryptocurrency on offer is sold to early supporters who can exchange for fiat, hold on to their tokens or use them on the platforms they are built on. There’s no promise of return but it highly depends on the supporters trust and adoption of the tokens.
CanYa is an online peer-to-peer marketplace powered by blockchain, which is seeking to disrupt the $2tn global services economy. Built for a decentralised future, its established ecosystem of over 8,000 users and 4,000 service providers is making it easy for people to adopt cryptocurrency and utilise it within their daily lives.
CanYaCoins are ERC-20 standard tokens, which will be used to guarantee the value of contracts signed by users and service providers on the CanYa platform.
Co-founder John-Paul Thorbjornsen believes CanYaCoin will empower individuals by giving them a single global currency they can use on services around the world.
“It’s completely decentralised. By pairing our platform with cryptocurrencies, and blockchain technology, it means that we can shift the entire platform into something that’s decentralised, and trustless,” said Thorbjornsen.
Blockchain technology has attracted a strong global following and offers a network that is not controlled by one party or actor. This provides trust to a network of users that doesn’t need to be placed in a central authority. Decentralisation also offers security. How? One node going down can’t take down an entire network, allowing you to feel secure in your tokens.
CanYa hopes to continue their success post-ICO with their HODL club offering. Critical of ICOs that over promise and under deliver, they believe in the value of their tokens and the promises their platform offers and are confident that the community will to.
The blockchain startup is leading the way by rewarding their community for their support, encouraging contributors of their ICO to HODL their tokens. The main benefit being a larger bonus of tokens the longer you hold onto your CanYaCoins and tickets to the CanYa Blockchain Conference.
The ICO is now live and will last for 30 days or until sold out. You can contribute by heading to sale.canya.io and get further assistance by visiting CanYa’s comprehensive how-to guide on contributing.