On February 5, 2018, Bridge Protocol announced they successfully concluded the Know Your Customer (KYC) whitelisting process for the upcoming IAM token sale. Bridge is a protocol that aims to build new standards for businesses, KYC, and token sales by interfacing with NEO to manage, protect, and utilize sensitive information in new ways.
Stephen Hyduchak, CEO of Bridge Protocol, released a Reddit post updating investors about the closing of the whitelist. In the post, Stephen provided an update to set expectations and minimize concerns for those who partook in the whitelisting process. Individuals who successfully got whitelisted will receive an email with more detailed information about the next steps.
“The Bridge Team realizes that many of our supporters did not get into the whitelist due to the limited amount of time since opening. Our promise to you is that we will give our IAM token to as many as possible,” said Hyduchak.
Bridge will distribute 1,000,000,000 IAM tokens in the following manner:
- 50% for the public token sale
- 2% for bounties
- 20% for development
- 20% for marketing and public relations
- 8% contingency costs
The token sale hard cap will be $25 million USD, and is expected to begin February 22, 2018. The token sale will remain open until February 28, 2018, or until IAM tokens allocated for the public token sale are sold out. For an individual investor, the minimum purchase price will be 1 NEO and the maximum of 5,000 NEO, and for the institutional or organizational investor, the maximum amount able to be contributed will be 13,000.