SophiaTX Token Generation Event (TGE) starts today, December 7th, at 2pm UTC (Coordinated Universal Time). Previously postponed due to the Ethereum network being clogged with digital kittens (that’s a whole other story in itself), SophiaTX’s TGE will happen today regardless of any Ethereum feline intruders.
The SophiaTX project is premised on an in-depth analysis of the technological capabilities of existing blockchains, to ensure a strategy and a platform which can truly add value and provide businesses with not only suitability, but genuinely superior functionality and features.
The resulting platform, and its focus on adoption by real businesses, is one of the most innovative advancements of blockchain into the way in which the businesses and their customers interact and how ecosystems are continuously re-defined by digital technology.
SophiaTX has taken every precautionary measure to make sure their TGE goes off without a hitch! Unlike other crowdfunding methods of this scale, SophiaTX has abided by the tightest regulations requiring KYC (know your customer) and AML (anti-money laundering) checks prior to participation. This ensures that all participants are indeed who they claim to be and protects everyone involved. There is an option for individuals as well as organisations to complete the KYC registration and partake in their TGE.
SophiaTX TGE landing page has detailed instructions for all participants and they’ve even created a simplified, step by step guide for anyone to follow. Their goal is to make this process as seamless as possible so that anyone who wants to participate can do so without an hassle or complication.
Interested parties can view the “why participate” page of their website which gives a nice summary pinpointing the important facts about their TGE. Some things to highlight include the following:
- SophiaTX TGE will have 5 rounds, approximately 48 hours each, for a total duration of 10 days. Every round has 30,000,000 SPHTX Tokens available, making a grand total of 150,000,000 SPHTX Tokens throughout the TGE.
- The starting price in the first round is 1 SPHTX = 0.00062789 ETH. Each subsequent round will have a small increase in price of 10%
- The hard cap for the entire TGE is set at 115,000 ETH and there is no soft cap nor is there a minimum amount for participants to contribute.
- Any unclaimed tokens which remain at the end of the TGE will be proportionally distributed to investors in line with their existing SPHTX stake.
- Participants can use BTC, ETH, or DCT. For DCT participants, they offer a 10% bonus. Conversion rates for these currencies are calculated by averaging the past 24 hours from 4 of the leading cryptocurrency market lists. (Cryptonator, https://coinbin.org/eth & https://coinbin.org/dct, Coinmarketcap and Cryptocompare).
- After their TGE, the SPHTX tokens will be distributed within 48 hours as an ERC20 Token sent to the participants ETH addresses. (participants must provide the same ETH address during KYC and TGE registration)
SophiaTX is open source and tailored to allow traditional enterprise applications to be extended to more robust, collaborative and decentralized blockchain-enabled business models.
“Integrating blockchain with SAP and other business systems allows businesses to deliver efficiencies, better collaborate along the value chain and even re-shape their business models,” explains SophiaTX CEO Jaroslav Kacina.
The SophiaTX team recently published a white paper and unveiled a working Proof of Concept demonstrating how businesses can use SophiaTX to transparently and reliably exchange information between their enterprise systems in real time.
SophiaTX is a blockchain platform and marketplace for businesses of all sizes, and the first open source platform to primarily integrate blockchain technology with enterprise applications such as SAP, Oracle, and others. 74% of transaction revenue worldwide touches SAP systems, and SophiaTX provides a business-appropriate blockchain for B2B collaboration and communication.