Bread is one of the largest and fastest growing digital currency companies, with 750,000 customers in over 140 countries, protecting billions of dollars worth of bitcoin.
On Friday the 15th of December, Bread successfully completed the second phase of its token sale, which finalizes $32M USD worth of Bread tokens (BRD) to be distributed to participants. The tokens are designed as the base unit of Bread’s loyalty and rewards system, giving Bread users the ability to unlock special discounts and achieve status tiers with additional services and benefits within the app.
As community enthusiasm grew during the weeks preceding the token sale, Bread lowered the maximum individual contribution from 3,000 ETH to 500 ETH to 200 ETH and finally to 100 ETH (worth about $70,000 USD today) in order to ensure accessibility to a broad group of participants.
Unique to the token sale was the opportunity for participants to utilize a beta version of the Bread app to send Ethereum and receive BRD in return. Roughly half of those who purchased BRD did so use Bread.
In good news for those who were unable to purchase tokens before the crowd sale ended, 25% of the presale was allocated to Binance, an ICO advisory services firm, who signed a reseller agreement to offer BRD in the near future via their distribution product, LaunchPad.
Prior to the crowd sale, the Bread team announced a large-scale expansion of their platform, transforming the company from a simple bitcoin wallet to a fully functional decentralized financial platform for cryptocurrency holders. The expanded platform will retain the ease of use that is so compelling for entry-level cryptocurrency adopters but will now provide the support, functionality and flexibility that can be found in more traditional fiat-based financial institutions. The added ability to manage Ethereum, Bitcoin Cash, and Ethereum-based tokens within Bread will be the first of several improvements.
Bread structured its smart contract to allocate 2/3rds of the total token supply to pre-sale and crowd sale participants and will retain 1/3rd of the tokens for the rewards program.
To learn more about Bread’s roadmap and Bread Token rewards,
Read the Whitepaper: https://d2n2g5n187q8lu.cloudfront.net/static/docs/BRD-whitepaper-EN.pdf
Visit Website: https://token.breadapp.com/en/
Bread (originally breadwallet) was established in 2015 as the first decentralized bitcoin wallet app of its kind on iOS and is now on Android as well. Bread’s platform includes a simple and secure wallet that is ideal for both beginners in cryptocurrency and established users. Bread is evolving in its ability to hold multiple cryptocurrencies such as BTC, ETH, ERC-20/ERC-644 tokens, and counterparty assets, preparing for a future in which billions of people manage their financial portfolios using decentralized applications.
To learn more about Bread and the Bread Team visit the website: https://breadapp.com/about/