The IDO will follow the recently concluded seed and private funding round that saw the platform raise $3.4 million. According to the announcement, the upcoming IDO will help Iagon raise an additional $200k. Iagon explained that after a careful selection, it chose the two since they had more value to offer to their ecosystem.
Dr. Navjit Dhaliwal, CEO of Iagon, explained:
“Further strengthening our quest for delivering top-notch quality, we’re glad to join forces with Occam.Fi and Tosdis, which we see as launchpads that are willing to support high-quality projects actively, not only before and during the launch, but also afterward. We’re certain that the future looks bright and that these platforms will actively assist us to onboard as many people as possible to join our journey.”
The IDO is scheduled to take place on July 26, 2021, with each platform being allocated $100k or 2.5 million tokens. For the IDO, the price has been set at $0.04 per IAG Token (Iagon’s native token), with payments being made through Ether. All those wishing [to participate in the event have until July 23 to make their applications.
Iagon plans to use funding from the IDO, seed, and private funding rounds to optimize its platform further. So far, the project has attracted a wide variety of angel investors and Innovation Norway.
Iagon is notably based on the model of a platform as a service. This allows the platform to utilize an s distribute unused storage and process power of network participants. Furthermore, all this is done while maintaining the security of files and at a much lower cost.
In addition, Iagon’s protocol allow the platform to transform vast amounts of data by carrying out complex computational tasks, carrying machine learning operations, and catering for artificial intelligence.
OccamFi’s president, Mark Berger, expressed his excitement for the new partnership by stating:
“Having satisfied OccamRazer’s stringent due diligence requirements and requirements to build for the good of the Cardano ecosystem, the Occam Association is delighted to welcome Iagon to our platform. Iagon’s vision for truly decentralized cloud computing infrastructure, and their relentless pursuit of developing real solutions for our interconnected world, is closely aligned with the wider vision and mission of the Cardano ecosystem.”
Mamoon Yousaf, Tosdis, added:
“We, as Tosdis Finance, aim to incubate high-quality projects that will bring value to the whole crypto and blockchain scene. We apply a tough but fair due diligence mechanism to pick these quality projects. Once we encountered Iagon, we immediately felt like this project is here to stay. The solutions it brings and the fact that it already possesses patented technology and a highly skilled team. Furthermore, the fact that Iagon already gained additional support from some of the best investment funds and Innovation Norway is a game-changer, and we’re delighted they picked our platform!”