THE ACLYD PROJECT AND ITS TOKEN INFORMATION
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Behind the name ‘ACLYD’:
I thought it might interest you to begin this discourse by looking briefly at the idea behind the name ‘ACLYD’. Trust me, I woudn’t dare bring this up here had the name not an interesting background in the first place. So I just thought I should share it with you…
From available information on the ACLYD project whitepaper, the name ‘ACLYD’ has its root from way back in around 591BC. Specifically, the name is derived from the kingdom of Lydia which was reportedly among the first kingdoms back then ever to begin the minting of coins – during the reign of king Alyatees of Lydia. So the name ACLYD draws partly from the name of this kingdom, Lydia (…LYD). The suffix ‘AC’ on the other hand is said to be borrowed from project AGRECOIN, a blockchain project which token serves as a security in the agricultural aspect of alcohol enterprises.
So AgreCoin + LYDia = ACLYD.
That’s rather epic, wouldn’t you say?
Well, let’s now see what project ACLYD itself is all about.
The ACLYD Project
The ACLYD project focuses on the alcoholic beverages market. It can best be seen as ‘a blockchain-based payment processing and identity verification platform’ for the wine and spirits industry.
Why ACLYD?
It is true every blockchain project seeks to solve existing problems in the real or virtual world. The ACLYD project comes about as a result of the many problems encountered by merchants, producers, and even consumers in the wine and spirits industry. Fact is the wine industry at present is laden with a number of challenges among which include: restricting minors from purchase and home delivery of alcohol products, great lag in payment processing, expensive processing of payments, problem of currency conversion in cross-border transactions, et cetera.
The ACLYD project offers solution to these problems through its carefully designed smart wallet which is fashioned in such a way to restrict minors from purchase and delivery of alcoholic drinks to individuals not yet of drinking age. This feat is achieved through a KYC verification system where every user would be required to undergo a KYC procedure and those found to be of inappropriate age would be denied access to features of the platform pertaining to purchase of alcoholic beverages.
As regards payment processing and currency conversion, the ACLYD team had since identified a solution: a common currency. Being able to use a common currency in cross-border transactions would allow for a kind of global market place in the wine industry and would invariably catalyze transaction processing and bring about efficiency in all transaction procedures.
With this in mind, the ACLYD project offers its blockchain-based token as a global currency which would allow for smooth and fast transactions across multiple borders while at the same time cutting off unnecessary costs. The ACLYD token, being blockchain-based, is borderless. It is a utility token that would be used in the wine and spirit industry anywhere in the world without any form of hurdles, thus, creating a kind of global market place on blockchain for the industry. This system of payment would effectively eliminate the persistent lags in payments processing and would spare merchants the expensive cost of having to convert their national/traditional currencies from one form to another while making payments for their goods/products. Also by the use of the ACLYD wallet, merchanets and producers in the industry would be able to create smart contracts to receive payments for their goods.
The ACLYD Token Information
ACLYD is a utility token that would be used throughout the supply chain in the spirit and alcohol industry. ACLYD is a token with the potential to foster faster transactions within the wine industry and by so doing, would save costs. The ACLYD project is built on the ethereum network, therefore the token can be securely stored in any ethereum wallet.
A total of 750M ACLYD tokens have been created. Of this total amount, 65% will go to contributors (ie investors during the sales), 20% to the ACLYD team members, 10% will be in reserve for further development of the platform, while 5% will be split between the project advisors and bounties. The ACLYD project soft cap is set at $500,000 while its hard cap is $10,202,500.
Generally, proceeds from the token sales will be used to develop the ACLYD platform. But specifically, these areas of development and their corresponding percentages of fund allocation are as follows: for core developement of the ACLYD platform – 40%; marketing – 25%; operations – 20%; and legal/compliance purposes – 15%.
The ACYD project has concluded its presale and the tokens allocated for sales were completely sold out. Its ICO has been running since the 7th of September, and it is scheduled to conclude by the 31st of October (or earlier if the tokens allocated are sold out before the set date).
And you know what? Now is a good time to get yourself some good quantity of the ACLYD token by joining the ICO.
Every information you need about the ACLYD project is available on its official website here: https://aclyd.com/
And read their whitepaper also: https://aclyd.com/wp-content/uploads/WP.pdf
Join their telegram group here: https://t.me/aclyd