SONM (Supercomputer Organized by Network Mining), the universal fog supercomputer powered by Blockchain technology, has announced its Initial Coin Offering (ICO) has successfully reached its $42 million USD cap with 8774 participants, closing just four days into the sale which commenced July 15, 2017. SNM tokens are now listed on Chinese exchange HitBTC and EtherDelta, a smart-contract based exchange platform.
SONM CEO Sergey Ponomarev said:
“SONM is delighted to announce the spectacular success of the ICO. We humbly thank our community for its support and participation in the ICO which raised over $30 million USD in the first 24 hours and went on to reach its cap within just days of opening.
“With a renewed sense of vigor heightened by our community’s strong demand for our tokens, the SONM team is excited to progress the project which we believe will revolutionize the computing market.”
Investors participated in the SONM ICO using ETH, BTC, Dash, and other major cryptocurrencies. A total of 331,360,000 SNM were minted in the ICO. Token creation is now permanently closed.
SONM’s ICO included a progressive bonus structure for the first 80% of tokens sold. The funds raised in the crowdsale will be distributed as follows: 33% is reserved for marketing promotion, market growth, community, and expansion; 30% for research and development including team expansion, and advisers; 20% for the original SONM team; 7% for complementary technologies; 6% for technology infrastructure; and the remaining 4% for other indirect costs such as legal and office expenses.
SONM’s Board of Advisors includes Lisk CEO and President of the Lisk Foundation Max Kordek and former Coinsetter and Cavirtex CEO Jaron Lukasiewicz, and ChronoBank CEO Sergei Sergienko.
Jaron Lukasiewicz said:
“Following the impressive success of its ICO, which attracted an extraordinary level of interest from investors, I trust SONM will quickly establish itself as a leader and innovator in the distributed computing market.”
By hybridizing fog computing with an open-source PaaS technology, the SONM platform will offer a full range of services, including app development, scientific calculations, website hosting, video game server hosting, machine learning for neural networks, video and CGI rendering, augmented reality location-based games, and video streaming services.
SONM also provides miners the ability to gain tokens efficiently by conducting calculations for all members of the network. Smart devices located anywhere in the world are able to participate in the fog network and sell computing power peer-to-peer through the SONM Application Pool.
More information and the SONM whitepaper is available at sonm.io/.
- Token Taxonomy Workshop – - January 24, 2020
- Deloitte Bullish on Libra Project in New Report - January 22, 2020
- Busted: SEC Charges Blockchain Marketplace Founder Sergii “Sergey” Grybniak for Fraudulent ICO 2017 - January 22, 2020
- DC Blockchain Advocacy Group US Chamber of Digital Commerce Supports Telegram Vs. SEC Case - January 22, 2020
- BIS Forms New Central Bank Think Tank to Assess National Cryptocurrencies - January 22, 2020
- Bank of England Pondering National Cryptocurrency - January 22, 2020
- Infamous Online Gaming Community Clanbase to Relaunch With Blockchain Technology in 2021 - January 21, 2020
- Chainalysis: 2019 Saw More Cryptocurrency Hacks – Total Amount Stolen From Exchanges Dropped To $283 Million - January 21, 2020
- J. Christopher Giancarlo, former Chairman of the US Commodity Futures Trading Commission - January 21, 2020
- Ethereum Classic Labs Donates $1 Million to UNICEF Innovation Ventures - January 20, 2020
- Busted: SEC and U.S. Attorney’s Office for the District of New Jersey Files Lawsuits Against Fraudulent ICO that raised $30 million - January 17, 2020
- Kenya Issues Second ICO Warning After Investors Lose €24+ Million Euro - January 17, 2020
- Neufund Wraps Tokenised Equity Crowdfunding Series B with Greyp Bikes raising €1.4m EUR - January 17, 2020
- U.S. Lawmakers Pondering “Crypto-Currency Act of 2020” - January 17, 2020
- New Blockchain-based Visa Token Service Set To Launch in 2020 – Set to Reach $1 Trillion - January 17, 2020
- Germany’s New Shore Invest Launches STO Ship Financing Platform – Tokenised Fractional Ownership - January 16, 2020
- Open Source Luminary Marc Fleury Enters Crypto Arena with Announcement of New Crypto Asset Class and Continuous Token Offering Sale - January 16, 2020
- UN Warns Public Not To Attend North Korea Blockchain and Cryptocurrency Conference 2020 - January 16, 2020
- Fiat-to-Crypto Gateway Solution, Banxa, Raises $2 Million USD Series A Round Led By NGC Ventures - January 15, 2020
- United Africa Blockchain Association Plans to Fire Up Blockchain Adoption - January 14, 2020