CakeCodes, a Blockchain adtech company with 930,000+ users being rewarded in cryptocurrency for trying new products, games, and apps, has today announced a Token Generation Event (TGE) for its ERC-20 utility token STORM.
STORM is intended to be the token for CakeCode’s decentralized global micro-job marketplace called StorMarket. The TGE, which will commence on August 15, 2017 and conclude on September 14, 2017, has a $5 million USD minimum threshold and a $50 million USD maximum cap.
The STORM utility tokens will be sold through a revolutionary hybrid crowdsale mechanism, in which $40 million will be available to participate through an Ethereum smart contract and $10 million worth of tokens can be obtained through one of the world’s largest digital asset exchanges, Bittrex. In a related announcement, Blockchain and mobile industry leaders including Bittrex Founder and CEO Bill Shihara and Unbank Ventures Founder Brett Noyes have joined CakeCodes Board of Advisors to advance the project.
CakeCodes CEO Simon Yu said:
“Following the tremendous and continued international success of CakeCodes’ first project BitMaker, we are excited to combine our expertise in mobile, digital advertising, and Blockchain to create StorMarket: a frictionless, decentralized, inclusive, and global ecosystem for micro-task listings. As the utility token for StorMarket, STORM will revolutionize the peer-to-peer job market by providing democratic access to resources and contracts via a user-friendly mobile application.
“StorMarket lets users rate and review each other based on ease of collaboration, quality of work produced, and the overall experience at the time of contract completion. This means companies can gain insight into the skill levels of potential contractors and the highest-performing individuals are duly rewarded,” Yu added.
The StorMarket platform will enable anyone to request services, such as website development or video editing, and select available, appropriately-skilled workers to complete tasks. Workers that successfully bid and complete designated contracts will earn STORM utility tokens, which are automatically distributed by the platform via an Ethereum smart contract.
Simon Yu said: “By eliminating layers of intermediaries, StorMarket will help to reduce operational inefficiencies, unnecessary administrative tasks, and costs of job listings for companies, while promoting equal opportunities for anyone to bid for jobs from anywhere in the world. This kind of democratization has never been seen before and will open up the market to international collaboration with experts in unprecedented ways.”
In addition, StorMarket users can be rewarded STORM utility tokens by testing apps and discovering bugs in companies’ products and services. This provides a viable opportunity for companies to perform quality assurance testing of millions of different devices around the world for a fraction of the cost and time needed for internal testing. STORM will also be integrated into CakeCodes’ BitMaker app.
The crowdsale represents the first effort by a technology company to deploy a hybrid crowdsale mechanism that will make the TGE more easily and widely accessible. Of the $50 million cap, $40 million in tokens will be purchased through an Ethereum smart contract, while the remaining $10 million in STORM tokens will be available through the Bittrex exchange. This revolutionary system will provide a greater number of potential users with the opportunity to participate in StorMarket.
Bittrex Co-Founder and CEO Bill Shihara said:
“We are proud to partner with CakeCodes on their crowdsale. They have a successful business model which is enhanced through their STORM token. Their method of token distribution makes significant strides toward leveling the playing field for participating in token crowdsales.”
CakeCodes’ Board of Advisors includes some of the Blockchain and mobile industries’ most respected figures including Co-Founder and CEO of Bittrex Bill Shihara, Unbank Ventures Founder Brett Noyes, Transbiotech CEO Ivan Braiker, Symmetry Consulting Inc. President and Principal Jon Nolz, and CEO of Kooapps Chun-Kai Wang.
Bill Shihara co-founded Bittrex in 2014, one of the world’s most important digital currency exchange supporting over 191 active different cryptocurrencies. Shihara has 15 years’ experience in leading cybersecurity and security architecture roles at Amazon, Microsoft, and Blackberry.
- AB-CHAIN’s Cryptocurrency Makes Advertising Easy - September 25, 2017
- Gibraltar Jumps on Regulatory Bandwagon – Issues Consumer Warning on ICOs – Token Sales – But Gives Green Light - September 24, 2017
- From the Creator of ICOs – J.R. Willett Designs Uptoken – To Accelerate Expansion Of Global Crypto ATM Network - September 23, 2017
- Art Provenance Platform ARTEX Launching Token Sale - September 23, 2017
- Students Train for Blockchain Jobs at Coding and Cryptocurrencies Summer Course in Greece - September 23, 2017
- Central Banks are Trialling Blockchain, Cambridge Study Shows - September 23, 2017
- Blockchain Conquering Esports Industry - September 22, 2017
- Russian-based Startup LavkaLavka Plan to Disrupt Global Eco Farming and Organic Food Retail Sector with BioCoin - September 22, 2017
- Slack Out, Rocket.chat In – Blockchain Community Leaders Aragon Lead Industry Exodus Amid Marked Increase In Phishing Scams - September 22, 2017
- Swiss Supply Chain Startup AMBROSUS Launches Token Generation Event - September 22, 2017
- Codemojo (Backed by PayPal Incubator) is launching its ICO to Mobilize $360 Bn worth of Reward Points Globally - September 22, 2017
- Investment into Blockchain start-ups set to hit $3bn in 2017 - September 22, 2017
- Opporty Announces ICO and Token Sale Starting October 18th 2017 - September 21, 2017
- Medicalchain To Speak At The Upcoming Financial Times Digital Health Summit On Oct. 12, 2017 - September 21, 2017
- Adel Will Upgrade Its Blockchain Incubator Using Jelurida’s Latest Technology - September 21, 2017
- Etch Foundation Announce Token Sale - September 21, 2017
- Jamie Foxx dives into cryptocurrency – invests in COBINHOOD - September 21, 2017
- New Creditinfo App and Services Utilize Blockchain-Based ShoCard Identity Platform to Maximize User Privacy while Authenticating Credit Report Data - September 21, 2017
- Disruptive Truck-Sharing Company Doft Sells Doftcoins to Truckers, 3PLs and Freight Shippers with 50% discount during Pre-ICO - September 21, 2017
- Carnegie Mellon University and BitClave partner to improve the search experience - September 21, 2017
- Darfchain Successfully Implements Its Distributed Erp System Encompassing Odoo, Bigchaindb And Ethereum Technology - September 21, 2017
- ASX-Listed iCandy Interactive Limited Announces Backing For Independent Blockchain Based Crypto-Currency “Project Nitro” To Support And Democratize Game Development - September 21, 2017
- Ethereum Co-founder Anthony Di Iorio Joins BlockMason as Advisor - September 20, 2017
- Nuggets Announces Token Sale for Revolutionary Blockchain Platform for Secure Private Payments and ID Verification - September 20, 2017
- Preeminent Investor & CNBC Contributor BRIAN KELLY Joins Veridium Labs Board of Advisors - September 20, 2017
- Dragonchain, Originally Developed at Disney, Announces October 2nd Token Sale To Bring The Power Of Blockchain Technology To Business - September 20, 2017
- Social Payments App Moneymailme Announces Development Of A New Blockchain Platform Called Modex Marketplace - September 20, 2017
- Blockchain-Fuelled Public Opinion Poll Startup ClearPoll Announce Presale - September 20, 2017
- SmartOne Launches Legal Solution for Crypto Community – Announce LEGAL Tokens - September 19, 2017
- HydroMiner Announces ICO and First Token Sale Starting September 25th 2017 - September 19, 2017
- LEVERJ AnnouncesFully Functional, Non-Custodial Cryptocurrency Derivatives Trading Platform - September 19, 2017
- DataBroker DAO, a Decentralised Marketplace for IoT Sensor Data, Token Sale Is Live - September 19, 2017
- Poseidon Brings Value To Nature Through Carbon Blockchain Technology - September 19, 2017
- Options and Futures on the Blockchain Board of Derivatives. PRE-SALE begins on 22th September at 8AM GMT. - September 18, 2017
- Blockchain-based Digital Advertising Ecosystem Papyrus to Launch Token Generation Event on 12 October - September 18, 2017
- Propy Raises $15 Million in ICO to Decentralize Real Estate Sales and Attract Foreign Investors - September 18, 2017
- The Financial Commission Issues Certification of the Genesis Vision ICO - September 18, 2017
- Blockchain Industry and Regulatory Leaders Launch Token Alliance - September 18, 2017
- PayPie Challenges Experian, Equifax and TransUnion Status Quo with the World’s First Ethereum Blockchain-Based Credit Risk Assessment - September 18, 2017
- YouNow Announces the PROPS Ecosystem, Brings Cryptocurrency to Mobile Video - September 18, 2017
- Dash Grows in Accessibility; Listed on London Digital Asset Exchange and Broker Dash partners with CEX.IO - September 18, 2017
- Qtum Ignition Tackles Scalability with First Decentralized Governance Protocol - September 18, 2017
- The Grant Hero Foundation Aims to Disrupt the Non-Profit Industry with the GIVE Coin Using Ethereum Blockchain Technology - September 18, 2017
- Trippki Announces Hotel Booking and Rewards Platform to Simplify & Monetize Traveling - September 18, 2017
- Democratic Cryptocurrency Exchange Mandarin.top launches ICO - September 18, 2017
- Talla Launches Botchain, a Blockchain-Based Platform for Ensuring Certainty and Security in A.I. Autonomous Agents for Business - September 18, 2017
- NXT Blockchain Announces Big Changes for Voting, Money Transfer and More - September 17, 2017
- Swirlds Raises $3M Seed Round to Bring Improved Performance, Security to Distributed Ledger Applications - September 17, 2017
- ICOBox Token Sale Tops 3933 BTC For New and Existing ICOs - September 17, 2017
- 21 Thousand People Contribute To Kybernetwork As Company Reports ‘Smooth’ ICO - September 16, 2017