XenonNetwork, an enterprise-scale Blockchain launching in July 2018 will kick off with a massive distribution of their native Xenon (XNN) ERC-20 compatible tokens to over 400,000 active ethereum addresses at the beginning of October.
In addition to this, a similar distribution to bitcoin holders will occur in November, followed by a proof-of-individuality public token distribution from November through to June 2018.
“The EOS project engages a proven team developing the world’s most innovative and high-throughput enterprise Blockchain. However, recent regulatory issues surrounding initial coin offerings in China and the United States, as well as limitations of the crowd-sale distribution model may create potential hurdles for adoption of the project. We present a massively distributed alternative implementation of the EOS project which avoids these limitations,” said Andrew Kong, Cofounder of XenonNetwork.
The organization proposes to distribute the Xenon tokens as follows:
- 30 percent of Xenon tokens will be distributed to ethereum addresses containing more than or equal to 0.1 ether in early October.
- 20 percent of Xenon tokens will be distributed to bitcoin holders based on proof-of-holdings in November.
- A further 20 percent of Xenon tokens will be distributed using proof-of-individuality mechanisms to encourage widespread circulation of the tokens.
In July 2018, these ERC-20 tokens will be redeemable for native tokens on the newly launched Blockchain.
“We believe that distribution and adoption are the most important factors determining the success of a Blockchain project. We are determined to have this token in the hands of as many people as possible at the launch of the Blockchain in 2018.” said Mr Kong.