The Chainlify Token powers our
full stack Blockchain-as-a-Service platform.
We are currently holding a private sale for our token offering. Register your interest and stay up to date with all the latest developments today.
Utility tokens are digital assets designed to be spent within a certain blockchain ecosystem.
That’s the short answer, but what does it really mean and what do you get when you purchase a utility token?
Utility tokens are a type of cryptocurrency that can be used to purchase goods or services offered by a company. Funds raised through the sale of utility tokens go towards the development of the network, solution, or platform on offer. Token holders can then use the tokens at a later date when the solution is launched to purchase the goods or services now available for consumption.
Essentially, the sale of utility tokens provides a method of fundraising for a startup, while token holders are provided with access to the future product or service - usually with added benefits.
Utility tokens are not as straightforward as a coin – mainly in the sense that they can only be used as a means of payment on the platform developed by the issuing company. For example, if you purchased a utility token from a company developing a new online game, you could later use it to buy access to that game, but not for anything else. If you wanted to use the token to buy another product or service from a different company, you would first have to exchange it either for fiat money or another crypto-coin.
Chainlify has issued its own token – the CFY utility token.
We are issuing our utility token to support the ongoing development of the Chainlify Platform.
To date, sales of the CFY token have enabled us to rigorously test all aspects of the Chainlify Platform, make improvements and will ensure that all our token holders are adequately rewarded upon launch.
The Chainlify utility token will also play an important role within the Chainlify community. CFY will be accepted by Chainlify as payment for all goods and services provided by Chainlify and will be encouraged as the currency of choice within the community for both developers and organisations.
CFY is the preferred payment method throughout the entire Chainlify Platform, including the Chainlify Marketplace, with users enjoying a number of benefits.
Members who use CFY to purchase goods and services will receive cost savings and special discounted rates over those who use traditional payment methods - and will also enjoy an expeditious service.
In order to encourage the development and expansion of the Chainlify community, CFY will also be issued as a reward to members who contribute to the community via guides, documentation, tutorials and articles, as well as to members who refer others to join our platform.
Chainlify will use CFY to grow and develop our Strategic Community Projects and Events, delivering further benefits to the Chainlify community.