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ViaBTC pool raised $ 30 million during ICO on Bitcoin Cash blockchain

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The ViaBTC mining pool held the first ever large initial coin offering (ICO) using the Wormhole protocol and the Bitcoin Cash blockchain. This is reported by Bitcoin.com (https://news.bitcoin.com/first-major-bitcoin-cash-ico-raises-30m-in-record-time/)

As the newspaper notes, in a little over two hours ViaBTC managed to attract $ 30 million. The new token was named ViaBTC Token (VIAT). The total supply of coins will be 2 billion, of which 750 million have already been distributed during the ICO.

According to representatives of the company, the coin provides access to additional services. Also, VIAT can act as a “token privilege”, used as a “gas”, or it can serve as a means of transferring value.

VIAT tokens will be used in the so-called “double mining”. The latter will allow miners to receive not only the standard award, but also VIAT coins. In this case, payments of new tokens will be carried out in four stages. According to representatives of ViaBTC, the coins will serve as an additional incentive for miners to connect to their pool.

A referral program is in place that allows ViaBTC users to earn extra income through attracting friends. In addition, VIAT tokens make it possible to reduce commissions of the pool, open access to "exclusive user support". Also for them you can buy some accessories for mining, souvenirs from ViaBTC and services of the BTC transaction accelerator.

According to the whitepaper, part of the VIAT tokens will be quarterly purchased by the company and “burned”. This, according to ViaBTC, will allow the implementation of a “deflationary model” that ensures price stability.

It is noteworthy that the first block of Bitforin cryptocurrency created as a result of hardfork was mined by the ViaBTC pool.
A source: https://news.bitcoin.com/first-major-bitcoin-cash-ico-raises-30m-in-record-time/

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