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Kadena Network Rolls Out Its Mainnet, Starts to Offer $20Mln Token Sale

By Chris Torres | November 6, 2019

The Kadena network – developed by major US-based investment group JPMorgan – has reportedly been publicly available, with a token sale equivalent to $20 million initiated by the firm starting November 4.

Specifically, on November 4, Kadena has officially rolled out the Chainweb mainnet, together with the new Kadena token wallet – dubbed Chainweaver. The company also looks to conduct its 3rd token sale, running from 5th-22nd of November this year.

As revealed via Kadena’s website, its freshly-launched mainnet will grant miners access to the public blockchain network, and begin mining activities to collect real Kadena coin.

The $20 million token sale of the company will reportedly be listed on CoinList – a marketplace specified in token-related transactions and has recently received a large sum of investment from the head of Twitter, Jack Dorsey. 

The token offering from Kadena will be split into 2 kinds, particularly offered to accredited and non-accredited investors.

Non-accredited token-wise, the listed price offered to investors outside of the US border will be $1 per token. All trading activities will only be finalized on CoinList within the 40-day timeframe since the sale starts, and free trading will be available after then. 

The other kind of token sale will be in the form of a Simple Agreement for Future Tokens (SAFT), and is only offered to US-based or abroad accredited investors. A $0.50 discount price will be available to purchase Kadena coins, but will then be locked for 12 months, to be in compliant with SAFT rules. 

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