ZUG, SWITZERLAND – 3 DECEMBER 2021 – Auditchain Labs AG (https://auditchain.finance), the creator of the world’s first decentralized accounting, financial reporting, audit, and analytical metaverse for assurance and transparency, has announced that its IDO will be available on Trustpad on December 14, 2021, at 12:00 UTC.
The IDO will occur following the completion of the final round of the AUDT Token presale on Polygon, which is open to select non-US players.
Presale Details
Hard Cap: 5,000,000 AUDT
Price: $0.15 Distribution: 25%
Vesting: Once a day for 365 days.
On day 366, the vesting bonus is 13.33 percent of the unclaimed vested AUDT.
IDO Specifications
Date and time: December 14, 12:00 p.m. UTC
Trustpad.io is a launchpad.
1,000,000 is the hard cap.
The cost is $0.20.
ten percent distribution
Vesting: Once a day for 365 days.
Listing: just after IDO
Infrastructure and Utility
The Pacioli Node, a process control reasoning engine for computing financial state validation, is at the heart of the Auditchain Protocol infrastructure. Pacioli is used in an open, decentralized environment to analyze the financial health of any publicly traded firm that submits financial statements in any of the world’s 50 jurisdictions that permit the usage of XBRL.
Staking – Pacioli Node operators must stake or be assigned a stake of at least 10,000 AUDT. To generate passive revenue, anybody may manage a node or outsource their AUDT to other node operators.
Settlement — On the Auditchain Protocol, the AUDT token is used to settle commitments such as:
- Financial state articulation for organizations reporting under US GAAP and IFRS.
- Validation of financial status for US GAAP and IFRS reporting organizations
- Accounting, financial reporting, auditing, and analysis validation NFTs for Process Control
- Allocation of royalties to Process Control developers and validators
Governance — On-chain governance allows for suggestions and automated activation of protocol modifications such as:
- Annual AUDT emission decentralization and monetary policy governance
- Upgrades to Enterprise External Validation Cohort Factory contracts
- Changes in the sharing of data subscription money between corporations and validators
- Control of the Process Admission to the NFT library
To propose a modification, a minimum of 1% of the circulating supply must be delegated. AUDT holders have the option of delegating to themselves or other delegates.
#PRESALE IS LIVE! #IDO on @TrustPad IN 3 DAYS #NFTs #NFT #ProcessControlNFT #enterprise #metaverse #CryptoNews #cryptocurrency #crypto https://t.co/starUBm0Oihttps://t.co/wvhBtLNxAW
— Auditchain (@Auditchain) December 11, 2021
Auditchain Labs AG
Auditchain Labs AG (https://auditchain.finance) is spearheading the creation of the world’s first decentralized accounting, audit, financial reporting, and analytical virtual machine, which automates and gives evidence of assurance on the world’s business and financial data. Auditchain Labs AG is a founding member of the DCARPE Alliance Association and collaborates with other Alliance members to create the Auditchain Protocol.
The DCARPE Alliance Association
The DCARPE Alliance Association is a global organization made up of accounting, audit, financial reporting, legal, blockchain, investing, and regulatory professionals. The Alliance’s mission is to set standards, offer education, push technological innovation, and encourage the use of the Auditchain Protocol for continuous audit and real-time digital financial reporting.
TrustPad
TrustPad was developed to help the blockchain ecosystem thrive securely and sustainably. Tokenova, Lupa X, GD10 Ventures, BlockSync Ventures, X21 Digital, Meridian Capital, Wealth Union, Twin Apex Capital, and 4SV are pleased partners of TrustPad.
TrustPad is not like other launchpads. A ‘quality above quantity’ strategy guarantees that TrustPad initiatives have actual long-term value. This will offer long-term development for the TrustPad community, drawing a broader audience for both $TPAD and the projects published on the platform.
