MediaRich Envisions “Infrastructure As A Service” Model In Its ICObr>
MediaRich.io has begun its token private sale for Dyncoin, a cryptocurrency aimed at decentralizing the server-side work required to scale client applications while enabling a “pay-as-you-go” pricing model.
The service is envisioned as a ‘Infrastructure as a Service’ called the Content Generation Network, or CGN, which aims to reduce and offset current cloud infrastructure costs and let users earn money with unused CPU power.
“We believe that this IaaS offering is the missing DServices platform for DApps,” said Sean Barger, CEO & founder of MediaRich.io.
The MediaRich.io website is now live and available in 10 languages, including Mandarin, Arabic, Korean, Japanese and Russian.
The token model will help shield buyers against post-presale market volatility. During the private and presale, MediaRich.io is selling “value,” which will be converted to tokens once the token price has been set by the market. This is done through an auction process, whereby MediaRich.io allows a large number of people to “vote” on the price. At any moment during the pre-sale, the token price can be computed by taking the total amount of value purchased until that current date and dividing it by the total number of private sale tokens.
Each buyer will be able to see how much value has been purchased at any given time, and can also calculate the current token price. MediaRich.io will present this information in a dashboard during the presale event. As more buyers come in, the token price will steadily increase. When the private sale closes, and all funds have been totaled, the computed closing token price will be equal to the greatest amount that the market will bear: no higher and no lower.
After the ICO is completed, over time, as the project prospers, and adoption increases, MediaRich.io may be able to increase pricing of its services. In addition, MediaRich.io may periodically elect to burn Dyncoin in order to manage fiscal policy with the cryptocurrency. These are factors which could support an increase in Dyncoin prices over the long term.
500 million Dyncoin tokens will be allocated for both the private and pre-sale. The private sale soft cap and hard cap are set at €10 and €50 million respectively. MediaRich.io is offering 50 percent additional bonus tokens for private sale participants. Bonus tokens will be redeemable six months after the close of the main sale. The purpose of the private sale is to fund the initial development of the project, expand the team and operations, and take the project through completion of the ICO. The private sale runs until the end of October 2018.