Denaro is a UK based payment platform created to bridge the gap between cryptocurrency based transactions and fiat currency transactions. One of the major deficiencies of the cryptocurrency system arises from the fact that cryptocurrencies as a whole are not recognized and accepted as a means of payment all over the globe. Retail outlets, merchants, and countries are at liberty to decide if they want to integrate cryptocurrencies into its payment system. There are over 2,000 cryptocoins currently circulating in the market and even if a merchant were to accept coins as permanent, it is nearly impossible that a seller would be open to payment with any and all coins. Most sellers usually opt for the more established and popular coins in the industry.
Denaro offers a multi-currency debit platform based on the smart contracts protocol of the Ethereum blockchain technology that will enable users to store, trade and manage their cryptocurrencies just like any debit card. The platform was founded by Ron Ramsey and Amy Archer and designed a user-friendly and secure interface to facilitate payment for goods and services through an electronic cryptocurrency wallet and physical debit card. The Denaro ecosystem comprises an International Bank Account Number (IBAN), a Denaro wallet, a Denaro customized debit card, a Denaro API and a Denaro token (DNO)
ICO update on Denaro token
The Denaro token is an ERC-20 token based on the Ethereum blockchain. The ICO of Denaro was held in two stages, the pre-sale ICO, and the main crowdsale. The pre-sale was launched on Tuesday, January 30, 2018, at 12:00:00 UTC and it ended a week later on Tuesday, February 6, 2018, at 10:59:00 UTC. The crowdsale kicked off on Friday, February 9, 2018, at 12:00:00 UTC and is set to close on Thursday, March 15, 2018, at 11:59:00 UTC. A total token supply of 100 million DNO tokens was created. The distribution structure of the tokens is as follows;
Visit http://denaro.io/ico to get a Bonus.
- 65% (65 million DNO) – ICO (Pre-ICO and Main ICO)
- 13% (13 million DNO) – Team and Development
- 7% (7 million DNO) – Marketing campaign
- 5% (5 million DNO) – Reserve
- 4% (4 million DNO) – Bounty
- 3% (3 million DNO) – Advisory board
- 3% (3 million DNO) – Referral commissions
Accepted currencies for the token sale include Ethereum, Bitcoin, Litecoin and the fiat currency – USD at an exchange rate of 3000 DNO for 1 ETH. Bonus Denaro tokens are allocated to investors at every stage of the ICO except for contributions made for the last 5 million DNO. The percentage bonus decreases with time, an incentive employed to encourage early investment. 2.5 million tokens out of the 65 million tokens were distributed in the pre-sale which had a 25% bonus allocation for all contributions made within the 7-day token sale. For the main ICO, the bonus allocation structure is shown below;
- 0 – 15 million DNO sold – 25% bonus
- 15 – 35 million DNO sold – 15% bonus
- 35 – 60 million DNO sold – 5% bonus
The soft cap for the main ICO is 10 million DNO with the hard cap is fixed at 65 million DNO. The minimum contribution limit is set at $10 while the maximum limit for an investor is $100,000. Investors who intend to contribute beyond the maximum limit $100,000 are required to contact the Denaro support team via email – email@example.com for proper processing of funds.
A bonus system has also been put in place to reward contributors for successful referrals to the ICO. As at the time of this report, over 34.7 million DNO tokens had been sold, an equivalent of about $10 million. After the ICO, the Denaro team will use the funds realized from the token sale for the development of a Cryptocurrency payment terminal as well as a Denaro mobile application for both iOS and Android platforms. The Denaro project will be officially launched in the first week of May and by the end of that same month, the Denaro tokens will be made available to cryptocurrency exchanges for trade.
The Denaro platform provides a one-stop solution for all cryptocurrency and fiat currency exchanges irrespective of banking or geographical limitations. It also offers a secured cryptocurrency wallet protected by multiple layers of security protocols to ensure that even if the physical debit card is lost, funds in the wallet remain locked and safeguarded from hacking and theft. Visit the official Denaro website here for more information on the project.
Visit : https://denaro.io/