EOS ICO Takes the Cake: $4 Billion Raised

EOS ICO

The EOS ICO is about to make ICO record history. The year-long ICO is set to finish tomorrow with $4 billion invested in the project.

EOS ICO

Block.one, the company launching EOS, raised capital for their blockchain project by auctioning off the EOS tokens. For the past year, every 23 hours, two million EOS tokens were auctioned to the highest bidder. Since this process began on June 26th, 2017, over 900 million tokens have been sold.

EOS is currently the fifth largest cryptocurrency, with a market cap of $10.6 billion. The EOS mainnet launch is set for June 2nd, only three days away now.

A vulnerability in the EOS code was recently discovered but has since been patched. The EOS team has now confirmed that the EOS mainnet launch is still on schedule, despite concerns.

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What’s the EOS ICO investment money going to be used for? Well, at least $1 billion of it will be reinvested by Block.one into startups building on the EOS blockchain once it fully launches.

As for the remaining $3 billion, it’s still unclear what the money is going to be used for. No public announcement has yet to be made. However, the EOS team looks to be expanding, so perhaps some of the money will be used to hire the best. Until EOS confirms, though, we can only guess.

>> What is EOS? Block.one Explains the EOS Project through Series of Videos

Register Your Tokens

Don’t forget to register your EOS tokens before the launch of the mainnet. Check out our step-by-step guide on how to register your EOS tokens. Some exchanges will handle this process for you, so check to see whether you’re covered or not.

EOS Price

EOS is currently selling for $11.91, which puts the coin down 2.74% in the past 24 hours.

EOS ICO
Source: CoinMarketCap

Are you ready for the EOS mainnet launch?

>> EOSIO 1.0 Update: What You Need to Know about the Upcoming EOS Launch

Featured image: CryptoNinjas

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