New Stablecoin on the Block: Saon Coin and Mining Operation begins IEO on May 4th
No matter how chaotic or confusing may the current situation in the world may be, the crypto economy continues. There are no vacation days or no weekends off — every day is a crypto day. Even though the day to day progress may look minor, make no mistake — the progress accumulates and gets us ever closer to mass adoption.
New projects are stemming up, bringing diversity and competition to the crypto market. Saon, a cryptocurrency backed stablecoin and mining operation is one of these contenders and they are conducting their Initial Exchange Offering on ExMarkets from the 4th of May.
The Saon team is creating a portfolio of different digital assets with the highest share of the portfolio attributed to Bitcoin but containing other altcoins with various market capitalizations. The team will re-invest the majority of its earnings back into the portfolio to ensure the continuous growth of assets under management via numerous tailored short-term and long-term investment techniques.
The Saon team is dedicated to providing 100% transparency about its portfolio at any given time so that potential purchasers of Saon token can weigh in all the risks involved and decide whether they want to be a part of Saon’s portfolio.
Moreover, on the other side of the project’s operations, Saon is going to maintain a crypto mining operation using ASIC and GPU hardware to diversify activities and add an extra revenue stream. The team will shift mining to the coin which is considered to deliver the best return at any given time.
“When we were founding Saon, the two topics that kept coming up were the financial health of our token and portfolio transparency. We’ve taken these two fundamental concepts as the foundation for Saon”, — said one of the Saon project founders.
Saon IEO starts on May 4th and will run until the last day of May. Native SAON tokens will be available for sale at $0.0225 USD and the team is giving away an extra 10% bonus to all ExMarkets members that are going to participate in the IEO.
Be sure to be there on time and we strongly advise you to open an account on ExMarkets in advance, so you’re ready when the action starts.
A deeper look into Saon
The top-level goal of the project is to gradually increase the stake of cryptocurrency in Saon’s portfolio over time thus increasing the value of SAON token through both sides of the business — crypto investment and mining.
SAON token is already been created on the Ethereum blockchain’s ERC-20 token standard. There have been a total of 210 million SAONs created and that is the final sum that will ever be in circulation. 60% of the total supply will be used for the token sale and exchange implementation, 15% is dedicated to the team, another 15% will be held in SAON reserve while marketing and legal fees will cover 5% each.
Every person taking part in the token sale is backing the SAON startup and continued growth of the business. Since the largest share of SAON’s portfolio is gonna be comprised of Bitcoin, there will be a significant correlation between the value of Bitcoin and the overall value of SAON. The team behind the project has stated that the share of Bitcoin within the SAON portfolio will never be less than 50%.
The remainder of the asset basket will be constructed of different large, medium, and small-cap coins which are considered to be the most attractive at the moment. A standardized due diligence protocol will be set in motion to verify and approve any of the riskier investments.
The top priority of the SAON project will always remain the financial success of the token and underlying portfolio. Therefore, all potentially profit yielding opportunities will be considered and evaluated critically.
Saon is taking a new approach to the already accepted Stablecoin. Since Saon is utilizing cryptocurrency as the backing for its token value everything is able to stay within the crypto-ecosystem. What this means is that the fundamental concept of Saon is all operating on the blockchain.
Be sure to read the SAON whitepaper for a more comprehensive guide of the Saon project.
- Ticker: SAON
- Price: $0.0225 USD;
- Bonus: 10%;
- KYC: No;
- Restricted countries: the U.S.
- Token supply / available for sale: 210,000,000 / 42,000,000 SAON
- Hardcap: $945,000,000
- Accepted currencies: BTC, ETH;
- Blockchain: Ethereum (ERC20)
The IEO is starting on May 4th and is offering a 10% bonus to those who participate in ExMarkets. Don’t miss out on this golden opportunity to become a part of SAON’s crypto journey and grow your net worth.
ABOUT THE AUTHOR
ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad.
ExMarkets has obtained granted 2 operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of a few certified players in the market.
It takes only a few minutes to set up your account and users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, tokens, and most importantly Euros.
To top it all off, ExMarkets is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity — a feature which can seldom be seen in the current market.