LONDON, May 26, 2018 /PRNewswire/ --
Cashaa has successfully closed the token distribution process, during which it became an example for the industry due to its compliance standards. More than 53,381 people participated from 119 countries, resulting in a raise of 33 Million USD. Cashaa has rejected 14.77 Million USD from the money raised due to its strict internal anti-money laundering and know-your-customer policies.
As per Cashaa's roadmap, their banking wallet is expected to be launched in the last quarter of 2018 which will be powered by CAS tokens. The company has decided that the 192482948.8 CAS which was available due to the failure of KYC will be distributed among the buyers in proportion to the quantities purchased instead of selling them again. The distribution will happen on 5th June 2018. To decide the proportion, the company decided that any CAS holders who will be able to prove their stake will be awarded tokens in the ratio of 0.7 CAS for each 1 CAS in their ERC 20 address, based on the balance as of 5th June, 12 noon BST.
The whole 192482948.8 available CAS have been moved to a multisig and locked for the community on a multisig address. 0x693b72f7f2280b77a07657ed1d845d07a0a48260
As per Cashaa's white paper, CAS belonging to the team, company, and community will be locked for three years with a cliff of 12 months (365 Million CAS). Cashaa has locked the tokens as stated and the tokens will be released as per schedule.
Founded in 2016 and ranked among the world`s Top 100 Most Influential Blockchain Companies, Cashaa's purpose is to bring financial inclusion to the billions of people who are the victims of a slow, intermediary and corrupt banking system.