Cloudbric ICO hits 10,000 ETH hardcap for AI and blockchain cybersecurity suite

South Korean web security company Cloudbric recently completed the ICO for their new decentralized and token-based universal cybersecurity suite platform. The token sale ended October 31, 2018, 11 AM UTC, and despite the fluctuations of the crypto market recently, Cloudbric reached their public hard cap of 10,000 ETH.

Cloudbric will primarily focus on the development of their decentralized universal security and deep learning integration. Check out the project’s roadmap to see what’s in store over the coming months. Cloudbric’s first official exchange listing is scheduled for the end of November.

See below a summary of Cloudbric’s ICO results:

Results of the ICO

Sales took place via Cloudbric’s official website (ico.cloudbric.com), and with token sale partners including, Kryptono’s IEO platform XPAD, Coinsuper, and Bitsonic.

ICO Specifications

• Total token supply: 1,000,000,000 CLB (1 billion CLB)
• Tokens for sale during ICO: 440,000,000 CLB (including bonuses, approximately 44% of total supply)
• Tokens sold: 429,562,500 CLB (approximately 97% of total sale)
• Unsold tokens: 10,437,500 CLB
• All unsold tokens will be burned between November 12th to the 16th.

Lock ups for CLB Tokens

• CLB tokens sold during the first and second pre-sales are subject to lock-up periods
• Lock up period: 3 months starting from October 31st, 2018. The lockup will be lifted on January 31st, 11 AM UTC.
• Tokens distributed to private investors are subject to a 6-month long lock up.
• Tokens distributed to the Cloudbric team members are subject to a 12-month lock-up period.

CLB Tokens Allocated to Bounty Programs & Airdrop Activities

• Tokens used: 3,526,380 CLB
• CLB tokens were distributed during meetups, KakaoTalk events, quizzes, (Korean sites Cobak and Hojaebox) and bounty programs.

CLB Token Holders

• Token holders: 7,095 individuals
• Distribution by nationality
• – 41 countries
• – Korea accounted for 50.9%
• – Other countries: 49.1% (Russia, Ukraine, Vietnam, Indonesia, Nigeria, Germany, France, Switzerland, and Poland were the leading participants. Please note that holder nationality is based on data provided in KYC applications.)

Use of proceeds

• Development (R&D): 45%
• Strategy Partners: 25%
• Reserved: 15%
• Operation: 5%
• Marketing: 5%
• Business Development: 5%

Cloudbric’s initial circulating supply is estimated to be a maximum of 380 million CLB.