Luxembourg, Lux – Sept 5th 2018 – Peer Mountain, the self-sovereign identity platform designed to make peer-to-peer transactions simpler, has today announced it will hold a Token Generation Event (TGE) on the 2nd of October and has now opened its whitelisting process due to high public interest in the project.
The TGE will be carried out by Peer Mountain, with TokenMarket handling the whitelisting of interested contributors. Users who wish to participate in the whitelisting process can sign up HERE.
Peer Mountain’s total hard cap for this token sale will be approximately $11 million. Peer Mountain has already raised more than the soft cap through its private pre-sales, which will continue until the start of the public sale.
PMTN are the frictionless value of exchange in the international Peer Mountain ecosystem, meaning that all business users will need to purchase PMTN in order to transact with Peer Mountain trust providers who are rewarded for their trustworthiness over time.
Proceeds from the Token Sale will be used to expand the team and the ecosystem, including:
- Technology: which includes the development and audit of Peer Mountain smart contracts, blockchain nodes, application architecture, mobile and enterprise clients, and other milestone objectives
- Corporate development: which includes typical company expenses such as office space and equipment, administrative and managerial salaries, fees, and taxes
- Marketing: which includes PR, marketing, and partnership initiatives
- Regulatory and legal: which includes lobbying and development of regulatory suggestions
The total amount of PMTN tokens to be distributed is 333,000,000, with 133,200,000 (40% of total token supply) to be released in the public TGE. 40% of the tokens sold will be minted to cater for the technology powering Peer Mountain’s network and blockchain.
About Peer Mountain
Peer Mountain is the cross-blockchain protocol that connects self-sovereign ID holders with businesses, enabling commerce at scale. It is the only decentralized identity network that provides businesses with instant cost-effective regulatory compliance, puts people in control of their protected personal information, and pays ID verifiers for their trustworthiness. For more information, please join the discussion in the Peer Mountain Telegram group.
For more information about Peer Mountain visit: https://www.peermountain.com