Kadena Goes Live, Announces New Token Sale Aiming for $20 Million

In 2018, the Kadena team raised a total of $15 million to launch their public blockchain from notable investors such as Multicoin Capital, Coinfund and Devonshire, the private investment arm of the owners of Fidelity Investments.

At present, token transfers and smart-contract development are not enabled on Kadena.

Outside of mining, Kadena is also hosting its third token sale starting tomorrow Nov. 5 until Nov. 22.

In reality, there are two token sales running side-by-side on CoinList for Kadena coins.

There is one for non-accredited, non-U.S. investors in which interested parties who don't wish to mine for Kadena coins can buy their token assets for $1 per coin.

This dual structure for Kadena's token offering is a configuration meant to ensure regulatory compliance of the sale in the U.S. and abroad. "It's going to serve Kadena and the community long-term because we're going to have done this sale within the bounds of existing regulations, case law and securities law," said Martino.

Along with mainnet launch, Kadena is also announcing Monday the launch of its Kadena token wallet, called the Chainweaver wallet.

Kadena is expected to host "Community gas stations" where transaction fees generated by new users can be paid directly by the dapp developers themselves.

Later, as users familiarize themselves with the application, they have the option to continue funding their wallets by buying Kadena tokens themselves either on an exchange or elsewhere.

As announced in May, Kadena is also partnering with asset manager USCF Investments to create new decentralized finance products on Kadena.