Modum.io has begun the public crowdsale of its MOD token, which started on the 1st of September 2017, following a successful private pre-sale. The pre-sale raised $1.25 million within 24 hours for the platform which will implement blockchain and Internet of Things technology within the pharma supply chain.
The company has allocated 20.1 million of the total 30 million MOD tokens for crowdsale. With 2.1 million already sold in the invite-only pre-sale, the remaining 18.1 million will be sold in three tiers during the upcoming ICO. The platform will offer the first 6 million tokens at a 30% discount. The second set of tokens will be issued with a 15% discount and the last 6 million will be sold at full price. Additionally, modum.io will set aside 9.9 million tokens in a smart contract for use in the bug bounty program as well as profit sharing rights for the next three years.