Cypherium, a cross-chain blockchain network capable of processing upwards of 10,000 transactions per second, has today announced it is raising capital via a secondary token sale giving participants the opportunity to acquire Cypherium’s multi-level governance token (CPH).
As well as having significant backing from Pantera, Blockfolio, and Qtum, Cypherium has a long list of enterprise partnerships with global conglomerates and government agencies, including Google, Amazon, IBM, Randstad, and the Federal Reserve Board.
CPH is designed to serve as gas for executing smart contracts and transacting on-chain. Cypherium’s hybrid consensus mechanism, which incorporates HotStuff BFT, the same consensus algorithm as LibraBFT together with Proof-of-Work, enabling the Cypherium blockchain to process tens of thousands of CPH transactions, making it fast and highly scalable.
Sky Guo, Cypherium’s CEO and founder said: “Cypherium is a next-generation public infrastructure that improves transaction speed and introduces a more effective governance model. The Multi-level governance model separates the governance from the protocol and the governance of the application, offering powerful tools for sidechain developers to build their own governance systems by combining their own scenarios.”
The company has already raised 20,000 ETH (via a private presale that took place January, 2018) and is expecting to raise $50-78million through the final public sale for their CPH tokens.
The TokenSoft platform where the public sale will take place has already started verifying investors’ identities, making sure they are not on a government sanction list ahead of the public sale commencing on September 14th, 2020 at 9:00 PM PT (UTC-7).
“We selected TokenSoft for our public sale, as the platform is significantly more advanced when it comes to preventative compliance,” added Guo.
A total of 300 million tokens will be sold in two phases. Phase 1 will sell 200 million tokens at 0.25 USDT per CPH. After that point, we will move onto Phase 2, in which 100 million tokens will be made available at a price of 0.28 USDT per CPH. Any leftover tokens will then be reallocated to the Cypherium ecosystem fund for use at a future date.