E-commerce startup prepares for crowdfunding. PayBito to conduct an IEO campaign for the company that strives for decentralization promotion of local brands
Global digital asset exchange PayBito announced that it will host IEO for Indonesian E-commerce Startup. The E-commerce venture seeks to quash the market oligopolies by promoting local brands on the same scale as market leaders to facilitating competition through decentralization.
The company is slated to launch its utility token after 3 rounds of IEO. The commencement of the first round is scheduled to commence on the 25th of July, 2021.
This comes at a time when global consumers are growing increasingly concerned over the lack of choices and market monopoly from big brands. And governments are introducing laws to curb monopolization. On a separate thread, the world has also witnessed several campaigns to encourage and promote homegrown brands and products rather than rooting for established brands.
PayBito Chief and Blockchain pioneer Raj Chowdhury says, “We’re delighted to be a part of a venture that targets decentralization,”
“This venture gains our support not only because its objective aligns with ours, but also because it attempts to set two wrongs right.”
The utility token IEO is limited to a hard cap of 20,000,000 tokens, with an allocation of 4,000,000 tokens for private sale and 7,500,000 tokens for public sale. The private sale is slated to commence on August 2. Public sales for the IEO will run from 25th October to 7th November 2021. To be a part of the public sale, users are required to have a verified PayBito account with adequate funds to qualify for the offering.
- The following incentives are available for purchasers:
(i) Purchasers are allowed a 10% token bonus for their purchases of tokens on Day 1 to Day 3, from 30th October 11:00 AM UTC to 2nd November 2019 11:00 AM UTC.
(ii) Purchasers will automatically be entered into a bonus raffle with a token prize pool valued at US$100,000 for purchases worth US$100 or more during the public sale. Purchasers will receive one raffle ticket for every US$100 worth of tokens purchased. Terms and conditions applicable.
PayBito is committed to providing optimal support and expertise to conduct the campaign with success.