ZEBBUG, MALTA / COINTELEGRAPH / November 25, 2021 Ethernity CLOUD concludes the third round of its public token sale with $3.53 million raised from over 5000 participants. The price of the token was $0.0506.
Ethernity CLOUD is one of the few blockchain projects focused on data privacy. Its goal is to build a 24/7 network that will support private and decentralized computing processes based on the ETNY token exchange.
In the first two rounds in September and October 2021, Ethernity CLOUD sold out the allocated number of tokens in just two hours, five hours, and 15 minutes, respectively, after the opening round. The amounts raised were $135 thousand in the first round and $950 thousand in the second round.
For those who missed out, the third round offered another opportunity to invest in this privacy-centered project. Every supporter investing the minimum entry-level $100 will be allowed to run a node in the future. This helped Ethernity achieve a high decentralization across the globe, one of the main goals of the project.
The third round of the public token sale ended on Nov. 24 at 7 am UTC. Until then, Ethernity CLOUD raised $3,538,900 from 5064 backers.
The ETNY token didn’t have a fixed price. The team decided to allow it to be set by the market in a truly democratic way — the final price was calculated as the final amount of money raised divided by the number of tokens made available. The final price thus calculated was $0.0506.
Iosif Peterfi, the founder of Ethernity CLOUD:
“I want to thank everyone who supported our project in this last round. It truly shows that our concerns around data privacy are shared by many, and it motivates us to push further and deliver some great results.”
What comes next for Ethernity CLOUD?
The project will now enter the development phase. This means the team will be working on building a decentralized confidential computing ecosystem that will run on the mainnet. Currently, Ethernity CLOUD has a proof of execution that runs on the testnet. Building and developing the mainnet will take 1–2 years, depending on technical specifications.