Imusify, a NEO blockchain-based music platform, has pushed the launch of its token sale back to August 1st. In a Medium post published by the project, Imusify note the imminent release of NEP-7 as the primary reason for the delay.
NEP-7 is a NEO Enhancement Proposal that will allow NEO smart contracts to automatically execute operations on the blockchain, triggered by NEO or GAS transactions. For example, one function enabled by NEP-7 is the ability for a smart contract to reject payments immediately if it isn’t meant to receive them. The NEP-7 standard will remove the need for specialized transactions necessary for events such as token sales.
In order to take advantage of NEP-7, and also avoid unforeseen complications, Imusify have decided to wait until NEP-7 has been deployed to MainNet before proceeding with its token sale:
“This is a huge step forward for the entire NEO community, but does present certain limitations for ICO smart contracts that will be “live” when the NEP0–7 [sic] deployment does occur. So, in order to mitigate the risks that come from having an ongoing ICO during the update, our team has opted to postpone imusify’s ICO by four weeks.”
All other token sale details such as the structure, phases and length will remain the same.
Imusify also announced a partnership with Switcheo that will see the IMU token listed the exchange at the conclusion of the token sale.
More information on Imusify can be found at the below links.
About The Author: Dean Jeffs
Dean is a digital project manager who has worked extensively with start ups and agencies in the marketing space. Fascinated by the potential applications of blockchain technology, Dean has a passion for realising the new smart economy.
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