Cajutel Sarl, a Swiss-owned telecom company, is building infrastructure to give people in West Africa gain access to high-speed internet at affordable prices. Building the solution from scratch, Cajutel has decided to undertake an ICO to raise the required investment for the project. By doing this, the company has created a solar DAO for West Africa.
Based in Guinea-Bissau, the company will initially focus its efforts in the local region before expanding across the continent. Through its project, Cajutel aims to provide connectivity to a majority of the reported 1.7 million population who presently don’t have access to the internet, or one of a poor quality. The increase in connectivity would hopefully also have the effect of raising GDP, per capita, literacy and human development index for those with access to more information. Individuals and business alike stand to gain from more affordable and accessible data.
To achieve its goal, Cajutel will require significant upfront funding, but as the project aims are realised, a plethora of opportunities will become available to those affected. The entire Cajutel infrastructure will be solar-powered, making it sustainable and economical in the long run.
As a part of its fundraising initiative, Cajutel began a crowdsale of its CAJ tokens which was launched on the 18th of August, 2017. The platform’s tokens are governed by ERC20-compatible smart contract on Ethereum blockchain. For the crowdsale, Cajutel authorized the creation of an additional 780,000 shares, of which 720,000 will be offered for sale to the ICO participants, with the remaining 60,000 allocated for bounties and to cover advertisement costs. The telecom operator has set the maximum cap for CAJ tokens at 1,780,000 where existing shareholders will retain 1,000,000 tokens, and the remaining will be used in token sales, bounty and advertising payouts. The maximum cap will remain fixed until shareholders agree to issue more shares, with each CAJ token will represent a share in the platform.
The ICO has five distinct phases. The first two phases offer 10,000 tokens each for sale and the price of each token during the first and second phase is set at 0.05 ETH and 0.075 ETH respectively. The third, fourth and fifth phases will involve the sale of 100,000, 200,000 and 400,000 tokens at a unit price of 0.10 ETH, 0.15 ETH, and 0.20 ETH respectively. The CAJ Ethereum based tokens will act as share certificates and carry the same rights as any other stocks including dividends. The value of the token is therefore backed by the company’s asset and earnings.