The MODULE Project has successfully raised 5 mln dollars and reached softcap !
ANNOUNCEMENT from the MODULE project
The MODULE Project has successfully raised 5 mln dollars and reached softcap
We are making this announcement to express our sincere gratitute to the community.
On the 17th of October the MODULE Project(*1) raised 5 mln dollars. Therefore, we have reached our softcap(*2).
This is one of the most important milestones for Module following the start of our private presale in May, the start of ICO(*3), and the start of IEO(*4) at the BitoPro(*5) exchange on the 8th of August.
We are pleased to inform you that the MODULE Project has successfully procured the necessary funds; thus, we can continue developing the MODULE blockchain as planned.
We will continue developing the product and working on raising the value of Module as a project. Your support in this regard will be highly appreciated.
Company Profile / Touch Answer Limited
The company was established in 2017, with the goal of launching the MODULE Project aiming at smartphone mining. The company strives to create a unique economic zone by attracting potential users of its blockchain.
MODULE is an ideal platform offering an asset of free mobile device storage.
*1 What is MODULE project?
The project is a new blockchain, in which people can earn rewards by renting out their free storage space. The targets of the project are mainly smartphones and IoT devices. The blockchain is being developed as a platform utilizing a consensus algorithm called PoSTT (Proof of Space, Time and Transaction). The rented out storage space can be used as a cloud storage.
Besides, various DApps (decentralized applications) can be built on the MODULE platform, while third parties can use the MODULE platform to provide various services.
The concept of the project is to create an environment where everyone can participate in mining “regardless of rich or poor”.
*2 What is Softcap?
It is the minimal amount of funds needed and aimed at by the project to proceed as planned.
*3 What is ICO?
Initial coin offering (ICO) or initial currency offering is a type of funding using cryptocurrencies.
*4 What is “IEO (Intial Exchange Offering)”?
An initial exchange offering is similar to an ICO. In both an ICO and an IEO, the startup is selling tokens in order to finance the project.
With ICOs, the counterparty is the developer; the developer is selling tokens. Startups that conduct an IEO will rely on an exchange to complete the crowdfunding campaign.
During an IEO, money is sent to the exchange’s wallet or smart contract. The exchange will then send tokens to the user. Later the user can trade the tokens on the exchange.
*5 What is “BitoPro”?
BitoPro is a new exchange in Taiwan, launched by BitoEx which is the largest exchange with a market share of 80%(BTC). Bitpro is now one of the most powerful exchanges which has succeeded in procuring more than 20 million USD in 26 hours for their original token, BITO’s ICO. They also created a system to allow BTC to be available for purchase by cash at 3,000 Family Mart convenience stores in Taiwan. They are now cooperating with Chunghwa Telecom to provide a system to exchange Chunghwa Telecom’s user points to BTC. BitoPro is an exchange with power and momentum for positive developments in the industry.