Synereo, a Tel-Aviv based blockchain startup developing a decentralized, open-source social network, today started the second round of its multi-phased fundraising strategy, which was announced prior to the company’s first sale in 2015. It was launched just 48 hours after Synereo announced the destruction of half of its AMP (its native cryptocurrency) holdings, worth an estimated $146 million dollars.
For the next 30 days, Synereo will offer AMPs at a fixed price, with purchasing bonuses of up to 15% on acquisition price. During the campaign, the offering price will increase in three tiers, and include a bonus phase during the first 24 hours, during which additional benefits will be offered.
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The firm explains that the funds raised during this campaign will be used to significantly scale up Synereo’s operations, expand the company’s team, optimize the development effort of Synereo’s 2.0 tech stack – the company’s decentralized computation platform, able to run decentralized applications without central servers – and refine the developer tools needed to build dapps on top of it.
Along with its fundraising efforts, Synereo releases the alpha version of its social network, which according to the company’s development plan will maintain under continuous development until Q4/2017, when the beta version will be deployed on Synereo’s RChain-based, next-gen tech-stack.
The funding is taking place at BnkToTheFuture, Synereo’s own campaign page, and on YUNBI which is hosting Synereo’s AMP sale for the Chinese speaking investors. According to the campaign page, Synereo has already raised over $1.8 million as of the time of publication – about eight hours in.