TaaS Contributes 750 ETH to ICON, a Decentralized Blockchain Network

Token-as-a-Service (TaaS) announced its contribution of 750 ETH to ICON’s token generation event (TGE). ICON is the first blockchain platform for transactions without intermediaries.

The ICON Foundation aims to build the largest decentralized network that allows independent blockchains with different governances to transact with one another. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds or a blockchain multiverse. In this way, ICON itself can be viewed as both a living organism and an ecosystem.

“For blockchain technology to reach its potential, it must be built to meet the demands of enterprises and institutions. ICON aims to be the solution,” commented Min Kim, ICON Foundation Council. “We appreciate TaaS for being our global strategic contributor and their support of our vision.”

ICON announced their TGE will begin on October 20, 2017, allocating 400,230,000 ICON Exchange tokens (ICX), which is 50% of the total token supply. The overall token sale is divided into two parts, the presale and the main token sale. Both share the same pool of token distribution, amounting to 150,000 ETH.

The first term of ICON’s presale started on September 20, 2017 and raised 150,000 ETH just in 6 hours. Half was raised from strategic contributors and half from the public presale. TaaS joined the presale as a strategic contributor in the amount of 750 ETH, equivalent to 222,750 USD(T) at the moment of transaction.

“To hyperconnect the world is ICON’s vision, which TaaS is excited to support. Decentralized communities have additional power and ability in context of the ICON Network, benefiting current and future communities as well as ICON’s contributors,” commented Dimitri Chupryna, cofounder and Managing Partner of TaaS.

This marks TaaS’ fourth TGE contribution since the fund completed its first fully-operational quarter, which ended on August 1, 2017. In the second quarter the Fund has already contributed 884 ETH to Proof, a blockchain platform created to transform traditional investments, 800 ETH to Etherparty, an easy- to-use smart contracts creator, and 250 ETH to Jibrel Network, a fully decentralized banking solu- tion. ICON becomes the next Token Generation Event (TGE) TaaS has joined in its second quarter.