Mingo – an interconnected set of supporting products, announces its Pre -ICO sale to raise €2M, scheduled to begin at 3 PM GMT on 25th September 2017. The upcoming token sale will be followed by the planned ICO, going live sometime during the first quarter of 2018. The proceeds from the campaign will be allocated for further development of MingoMessenger and its entire accompanying cryptocurrency ecosystem.
The company, through MingoCoin, is on a mission to encourage large-scale adoption of cryptocurrency among the masses. There are currently less than 0.005% of the world’s population who are actively involved with cryptocurrencies. MingoCoin plans to increase this percentage by teaching people how to use cryptocurrencies and their applications through its multi-platform MingoMessenger, crypto wallet – MingoWallet and the MingoCoin cryptotokens.
“The presale and ICO funding will be allocated to develop MingoMessenger further.”
Following the recent launch, MingoMessenger has been rapidly growing and currently has over 50,000 users across 170 countries. It allows users to view all their messages from multiple messaging providers as a single feed per contact. Its app is available on Android and IOS.
Once the user downloads MingoMessenger, they are presented with an option to connect all their messaging accounts and earn a reward in the process. Built around the concept of gamification, the platform rewards every new user with 10 Mingocoins (MGCs), which can be used to invite other friends by sending them a token each. After all the ten friends join the platform, the original sender stands to receive 20 MGCs, encouraging them to get more people onboard.
Mingo’s core principle is to make cryptocurrency transactions as simple as sending a text message. For this, the Interledger Protocol will be implemented to facilitate cross-currency transactions. The platform will support multiple currencies, including but not limited to MingoCoin, Bitcoin, Ether, Litecoin, Ripple and other altcoins.
The purpose of the pre-ICO sale is to fund a successful ICO and start development of MingoWallet and MingoCoin for an early release version ready for production by Q1 2018.
Presale Funds will be allocated as follows:
– Research & Development: 44%
– Sales & Marketing: 22%
– Operations Development: 15%
– Security & Legal: 12%
– Customer Support: 5%
– Contributor Relations: 2%
During the pre-sale, participants will be issued MingoToken (MGT) which can be exchanged at a 1:1 exchange with MingoCoin (MGC) upon completion of the ICO.
Ethereum is the only currency accepted for participation in the Pre-sale event and contributors much ensure that they use a token-compatible wallet such as MyEtherWallet, Parity or Mist. ETH from Exchanges will not be accepted. The token price is set at 1ETH = 5,000 MGT, with a goal is to raise 2,000,000 EUR.
To join the pre-sale, visit https://mingocoin.com
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Source：Read the official page