Meloot, the first decentralized e-commerce platform on the Cardano blockchain has announced its plans to hold its seed sale on the KICK.IO launchpad.
As per the announcement, Meloot’s seed sale will start on February 10 at 13:00 GMT. The event will run for seven days until February 17, 13:00 GMT. The seed sale involves (Meloot) $LADA, the native token on the platform, and will be done in two rounds; priority and seed round. For the priority funding round, the project has availed 10000000 $LADA with a selling price of $0.0275. To purchase the tokens, investors will be required to hold ADA tokens.
On the other hand, the seed round will start from February 11 to February 17. During this period, investors will have the opportunity to purchase their share of the 30000000 $LADA allocated for the event. Each token will be bought using ADA tokens for $0.03. Note, to participate in the endorsement system and the sale for both rounds, 10000 KICK has to be staked in one of the locked pools.
Commenting on the seed sale, the KICK.IO team explained:
“Based on our early projections of investor interest, we anticipate this public sale to be massively oversubscribed. Be sure to participate early!”
Meloot is a social commerce platform created to run on the metool tokens. The platform uses video and live-based commerce platforms that are easier for buyers to make easy purchases compared to other platforms. The platform can be viewed as a combination between Amazon and TikTok, combining TikTok’s user interface with Amazon’s e-commerce capabilities. The platform provides an avenue for users to connect, interact and engage with others without the strain that comes with expensive credit cards and payments gateway fees.
Meloot token powers meloot, a video and live commerce platform that converts visitors into buyers more effectively than any other platform. It is the first decentralized social commerce platform that runs on Cardano. The $LADA tokens serve numerous utilities, including the purchasing power to buy physical and digital products. Holders can also promote products and content, participate in governance and staking activities. Users will be able to earn the tokens by selling products on the site if through affiliate marketing products
Meloot has been holding a private sale that began on January 1, 2022, and is scheduled to run until March 1. This funding round will be followed by two presales and a crowd sale. Combined, the funding rounds will sell a total of 360,000,000 LADA.