Krios, a Sydney-based, decentralised affiliate network and campaign management platform, is preparing to launch its virtual currency initial public offering (IPO), known as an initial coin offering, or ICO.
The company, which helps connect businesses seeking promotional and affiliation services with influencers, is hosting a token-generation event in early December, with pre-ICO tokens available from Friday, November 17 to Thursday, November 30.
Chris Quinlan, founder and CEO, Krios, said, “The total amount raised by the ICO will be determined by the demand for Krios tokens, known as KriosCoin or KRI. During the pre-ICO period, the amount raised will be capped at US$500,000, with only 10 million of the total 650 million KRI available for purchase at a 30 per cent discount. The ICO will then take place from Sunday, December 3 to Sunday, December 31, with KRI available at US$0.10. All unused tokens that remain after the ICO will be burned and no new Krios tokens will ever be created.”
The Krios token is an ERC20 standard token based on Ethereum technology and blockchain. Krios is using blockchain technology to allow users to purchase social media and marketing services, providing a secure, private, and decentralised method of confirming and conducting transactions within the network. A utility token, KRI can be used as a unit of account between advertisers, publishers, content creators, and businesses in the new blockchain-based, digital advertising and services platform.
Chris Quinlan said,
“The Krios platform lets users create a team from different categories of specialists, so businesses can consolidate advertising spend and platform management in one place, with one currency, no matter where they are in the world. Krios also uses smart contracts, ensuring the work is completed and signed off by the user before payment is made.
“The funds raised from the ICO will be used to finalise the development of the Krios platform, expand our team, compensate advisors and current team members, as well as expand and broaden the Krios platform to become a global service.”