Pre-ICO, as the name suggests, is a pre-sale event prior to ICO (Initial Coin Offerings). It is basically a shopping event that offers even cheaper prices for a very limited amount of tokens. In this way, the development company can obtain financing for its ICO or use it to complete its product.
The team responsible for Yetucoin, the first Angolan cryptocurrency, defined in January 2021 the pre-sale of YETU tokens. 5 million YETU tokens were available. The goal was to achieve 200 BNB (Binance Coin) in exchange for the YETU tokens. On April 16, the pre-ICO deadline, the figures showing a collection of 249 BNB (about 130.000 US dollars) were revealed.
In an official publication, the Yetu team revealed that all tokens that were not purchased were burned: “We burned ~ 3 Million YETUs in the Pre-ICO. The process of burning tokens will continue until the last stage of the ICO. Burning the tokens decreases the supply of available tokens, thus valuing the tokens in circulation."
The most important pre-ICO milestones were also shared:
• Approximately 249 BNB (~ 130.000 dollars) collected;
• Approximately 3 million tokens burned;
• Partnership with VinDax Exchange for listing Yetucoin;
• Listing on CoinMarketCap.
In addition to the above points, there is also a high level of community engagement in Angola, which has led the numbers of followers on Yetu's social networks to grow significantly in recent months.
What are the next steps?
The next steps of the project include the development of YetuSwap, strategic partnerships and increased sales of YETU in stage 1 of the ICO.
See all details in the official Yetu publication.
