Trace Network plans to launch ICO soon. What about TRACE?
Trace Network is an enterprise-grade decentralized finance protocol. It aims to harness the capabilities of composable smart contracts, as well as NFT based unique merchandise identification solutions and permission-less financing options powered by Defi to unlock the billions of dollars’ worth of business potential.
The network will utilize the unique capabilities of Defi, DLTs, and NFTs to empower participants in its ecosystem. Users will be able to interact and share data required to enforce traceability, distribution channel stock visibility, and efficient working capital financing options. As a result, clients will enjoy more efficient trade practices and business management.
The company also plans to launch its native utility token TRACE in October 2021. The exact date isn’t released yet. However, this ERC20 token will give users additional advantages when it comes to using Trace Network. The total amount of tokens is 100,000,000. But only 16,9% will be available for the token sale.
The network provides several exciting features, including NFT based on-chain merchandise identity management, Defi-based on-chain liquidity and trade financing, on-chain integration, and settlement of business transactions across business networks.
TRACE token will have inbuilt governance and community participation capabilities. Token holders will be able to vote and help to make decisions about the platform’s development.
The team set aside 30,620,000 TRACE tokens for business development, community incentives, and ecosystem promotion. They allocated 20,620,000 tokens for that amount separately in an ecosystem and business development fund. The company will use the remaining 10,000,000 tokens for community incentivization for the early adoption of the protocol.
Furthermore, the team allocated 16,380,000 TRACE coins to early backers and strategic investors. 500,000 TRACEs are for public sale. The rest of the tokens will go to existing and future advisors, founders, and the team, as well as the network’s development.
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