Blockchain-based data integrity SaaS platform, Authtrail, has announced the community round for its native AUT token. The invitation-only round, which will list up to 20% of the total supply, is currently accepting applications for whitelisting.
The community round is being billed as a one-time opportunity for early contributors to acquire AUT tokens at comparatively lower prices. The initiative will see 30 million AUT tokens from the total supply of 150 million AUT distributed amongst whitelisted participants, helping Authtrail raise an additional $6 million. Each AUT token will be priced at $0.20 - half the token’s price for the upcoming public round.
During the community event, there will be two rounds: the community first-comers round for the first thousand contributors, with contributions starting at $1,000 and capped at $5,000 per user, and the first-come, first-serve community round where contributions start at $1,000. There is no upper cap for the second round. A twelve-month vesting schedule will apply to tokens, with a three-month cliff and equal vesting in months four through twelve. The community round is only open to Authtrail community members and requires whitelisting.
That said, the community round isn’t open to residents from the US, Canada, China, Cuba, Syria, Iran, Sudan, Singapore, the Democratic People’s Republic of Korea, and the People’s Republic of Crimea Region of Ukraine.
Per the Authtrail team, the funds raised from the community round will be used to accelerate the product development while at the same time boosting the adoption of the platform. The AUT token is at the heart of the Authtrail ecosystem, powering the core data integrity functions of the platform.
Data Integrity Solution For Web 3.0
The upcoming community round comes at the heels of a successful funding round, where the Authtrail team secured $3.6 million from a consortium of venture capital firms and angel investors. 2021 was an extremely eventful period for the Authtrail team after the platform registered significant enterprise adoption and traction across a diverse range of businesses and enterprises. The goal is for 2022 to build on that momentum.
Authtrail uses the Moonbeam Network to provide a market-ready platform for data integrity alongside adjacent applications that can improve data integrity cost-effectively. Its use of hashing and anchoring ensures data integrity on the blockchain network and is the first real-world adoption of Web3 at the enterprise level. This enables enterprises to optimize performance and boost their reputation while also cutting costs.
While the genesis version of Authtrail was built on Ethereum, the platform recently migrated to the Moonbeam Network due to its higher efficiency and lower transaction costs. With Moonbeam, Authtrail further takes advantage of on-chain governance, staking, and cross-chain integrations, as well as Polkadot’s shared security and interoperability.
As data is aggregated through the Authtrail API, the platform establishes linkages between enterprise data and blockchain technology. Once aggregated, all the data is verified, hashed, and anchored on the Moonbeam blockchain. As a result, Authtrail can establish a seamless connection between real-world enterprises and cutting-edge technology to ensure data integrity. The applications offered by Authtrail are compatible with Microsoft, Oracle, Shopify, Salesforce, SAP, and several other leading platforms.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.