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Camino Network has opened its travel-friendly blockchain network to the general public for the first time through the sale of its native cryptocurrency token, CAM. The token powers a suite of decentralized applications designed to transform the way the massive global travel industry operates.
Having raised over $10 million in private rounds from major industry players like Lufthansa and Eurowings, Camino allows anyone to own and use their token through public distribution. The non-profit Camino Foundation will create one billion CAM tokens, of which 900 million were pre-mined at launch last year, with the remainder to be unlocked as an incentive.
Benefits of CAM Token for the Public
“By taking CAM public, we can drive local innovation to complement the partner companies that rely on our network,” said Jonas Primbs, co-founder of Camino. “This opens the next phase of our mission to completely reshape the way travel reservations, loyalty programs and related services work.”
Of the total supply, 75 million CAM tokens were specifically targeted to the public, divided into three discounted tranches depending on the schedule. The minimum buy-in is 1,000 Swiss francs, or approximately $1,100. All purchased tokens will be subject to a one and a half year lock-up period and a phased vesting schedule to ensure longer-term alignment.
As a native asset of Camino, CAM facilitates all transactions on the network – from fulfilling travel reservations to accessing decentralized applications. These dApps encompass everything from redeeming hotel points to tokenizing travel vouchers into tradable assets. CAM provides the financial rails for various use cases.
“We designed CAM to encourage participation at all levels, from big brands to independent developers,” Primbs said. “As more partners build on Camino, it ties everything together and enables a peer-to-peer exchange of value. »
How the Camino Network Works
Camino Network leverages aspects of public and private blockchain technology to balance scalability and security for industrial use. The sale of CAM grants general membership to what is intended as a next-generation ecosystem tailor-made for global travel.
Switzerland's progressive stances on cryptocurrency and blockchain have fostered the growth of the country's Crypto Valley center. Led by Switzerland, Camino supporters view CAM as a compliant utility token providing access to a decentralized network rather than an investment asset.
With the symbolic sale launching Camino into the world, its founders believe it serves as a starting point to realize its full vision. “We are providing the infrastructure needed for the Web3 future of the travel industry,” Primbs said. “Everyone is now invited to join us in building it. »
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