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Adel to support blockchain projects, ICO to begin in March 2017
Adel, a community-based project funding platform, announced its plans to start a month-long crowdfunding ICO starting in March 2017. The incubator is aimed in developing, supporting and funding innovative startups using blockchain technology and based on Nxt community platform, Forbes reported.
Adel is a global cryptocurrency community that is self-regulated, self-sustained and offers its own economic ecosystem with the Adelphoi token. The blockchain projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel's stakeholders. Adel projects will create opportunities for investment, innovation, and employment.
Adel leverages on Nxt blockchain-as-a-service platform and it has chosen Nxt because it has proven track record and provides a number of features that benefit the community-based ecosystem that Adel represents.
“We’re lucky to have this opportunity to introduce Adel to the evolution of blockchain technology. Our research team has identified what we believe is an exciting untapped market opportunity by providing parties interested in innovation with a community-based infrastructure to participate in long-term projects. By leveraging the emergence of blockchain as a service, we created the Adel ecosystem so that participants have a collaborative platform to initiate, develop, showcase and fund their innovations,” Gabriel Dusil, co-founder and Board Member for Adel, said as reported by Forbes.
The stakeholders those who invest more than 1 BTC will be invited to the Adel Community. These stakeholders will become members and will have full voting power, which will be based on the proportional amount of their contribution to the upcoming ICO.
Blockchain innovators must prepare a business plan for their ideas and submit it to Adel’s Board that will curate whether the project goes with ethical, legal and regulatory guidelines. When the project plan is approved, it is then sent to the community for discussion and clarification, after which it is submitted for a community vote.
“At Adel, we’re dedicated to delivering a secure and trustworthy platform for community members so they can safely participate in the ecosystem. And, it’s important that the actions we take as leaders of the community deliver on that goal,” he added.
Initial Coin Offering
The Adel ecosystem will be established through three rounds of ICO’s. It will have a structured deployment of funds as projects are approved by the community.
Adelphoi cryptocurrency tokens will be released 100 million across these three ICO rounds, with the first ICO in the series commencing March 2017. The first round will issue 33,333,333 Adelphoi tokens to the community. Stakeholders will then be able to purchase Adelphoi during the second and third rounds based on the market value of the token within that ICO window.