Privatix, developers of an internet bandwidth marketplace based on P2P VPN network on blockchain technology, has published the results of its recent token sale. The company has created a range of products, including free VPN service Privatix.com, IPleak.com, and temporary mail service Temp-Mail.org.
The company gives users the ability to sell spare or idle internet broadband to the network, and be compensated for this instantly with cryptocurrency. The payments come from buyers, who purchase the bandwidth via third-party applications or directly. It hopes to combat internet censorship, protect against cyber security and privacy threats, and avoid slows internet speeds.
During the token sale, Privatix recorded 1,435 people from all over the world contributing to its project, providing 7,183 ETH – equating to around $2.37 million at the time with ETH valued at 330 USD. Besides thanking the contributors, the company stated that it has started work on implementing its roadmap to build the Privatix Network.
Opening on the 19th of October 2017 and running through to the 16th of November 2017, the Privatix Token Sale collected 5,775 ETH which, in combination with a 1,408 ETH pre-sale, resulted in a total of 7,183 ETH.
Details of the Privatix Token (PRIX) were as follows:
100% Total supply: 1,275,455
83% Token Sale and Pre-sale: 1,058,627
7% Founders (locked for 12m): 89,281
7% Future and current team: 89,281
3% Advisors, bounty, and cost covering: 38,263
Total circulation supply: 1,058,627 (7% of locked 12m tokens excluded)
Total contributors: 1,435
Exact total supply: 1,275,455.31177803 PRIX
Token address: 0x3adfc4999f77d04c8341bac5f3a76f58dff5b37a
All unsold tokens were burned following this event, and no future tokens can be issued.