Enigma Catalyst enables anyone to build their own cryptocurrency-hedge fund. Enigma provides user with data sets and a research platform for traders to build, test and master investment strategies. Their long term vision is to build a de-centralized marketplace for financial data used by traders and accessed with Enigma Catalyst tokens.
To best grow the Catalyst platform and community, we decided to develop a native token, ENG. As outlined in our last blog post, ENG is primarily used to access data sources on the de-centralized Enigma Catalyst Data Marketplace. In the short run, we are using ENG tokens to provide the right incentives to grow and ensure stability of the network. The tokens are used to create demand in the data marketplace by rewarding quants with winning strategies. This incentivizes more quants to come on the platform and consumer data to gain an edge.
We’ve been hard at work developing Catalyst, so we are very excited to finally be able to announce our token sale, where for the first time members of the Catalyst community can acquire ENG tokens. Here are the details:
The token sale will take place beginning on Sep. 11.
We are creating a fixed supply of one hundred million (100M) tokens, to be allocated as follows:
- 50% to be made available in the initial token sale (to be used only for operations)
- 25% retained as incentives for the Catalyst community
- 25% distributed to the Enigma team and advisors (current and future) and retained by Enigma
Use of funds
Funds raised through the token sale will be used as follows:
- 60% for product and technology development
- 15% for blockchain research
- 10% for marketing purposes
- 10% for operations
- 5% for legal and administrative costs
Mechanics of sale
Our primary goal for the sale is to have a wide distribution of ENG tokens. After studying many successful token sales, we saw that having a wide distribution of tokens is key to a cohesive community and to the long term success of the project.
We are considering a tiered sale approach that was first introduced by our friends at Civic to make sure everyone who wants to contribute in our token sale gets a chance. Exact details on the tiers will be released closer to the token sale date. ENG token sale will only accept Ether and participants will need to create an ERC-20 compliant wallet. MyEtherWallet (web wallet) and desktop wallets such as Parity, Mist can be used to receive ERC20 compliance ENG tokens after the token sale. No lock-up period will be required for the tokens after the sale.
Token sale AMA
We will be holding an ask-me-anything (AMA) session with the Enigma team on our Slack group early next week. The exact timing will be announced in the Slack and across all of our social channels. Please sign up for the Slack in advance and join our growing community! We’re happy to answer your questions in the meantime and help you get started with Catalyst. We will also add a Frequently Asked Questions sections to our website soon.
If you have any questions about our token sale, the ENG token, our platform, or anything else at all, please join our community on Slack, reach out to us on Twitter, or subscribe to our mailing list at www.enigma.co. Whether you are a trader, developer, investor, crypto enthusiast, or all of the above, please come learn and grow with us!