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WORM ICO is today (18th Feb 2pm UTC)
The public WORM ICO phase just went live on Cypher Industries - all on ETH L1
The ICO details are promising - with no VCs and 75% of the raised funds are used for liquidity upon TGE.
> Fixed price $2m MC
> Hardcapped at $877,000
> Price 0.00035714 ETH/WORM
To participate, go here:
What is WORM?
WORM is a privacy project that is focusing on the L1, based on the EIP-7503 privacy concepts. EIP-7503 introduces the idea of 'Private Proof-of-Burn' where users could theoretically burn ETH, mint a zk proof and the receive the same amount of ETH to a new address - all privately.
WORM works by burning users ETH and generating a zero-knowledge (ZK) proof to mint anonymized burn receipts called BETH. BETH is then used in mining epochs to earn WORM tokens. This creates scarcity that's linked to burnt ETH.
Why is this ICO different?
No VC's, launched on ETH mainnet, with a low, fixed price of only $2m MC. It seems like all the other ICO's are launching with obscenely high valuations, which leaves little upward movement for smaller investors.
At $2m MC you can't complain. I've bought some WORM tokens for the culture and I've minted the NFT.