Gigajoule Floating Solutions, the high-tech electricity generation company, has broadcasted the news of the launch of its digital token named Gigajoule Token (GIGJ). The firm has decided to come up with the IEO with an intention to get the necessary funds required for financing the implementation of the Gigajoule project.
The efficient functional pedagogy of the GIGJ token places it a notch higher in comparison to other ICOs and IEOs. GIGJ is blessed with a unique structure, identical to the security-token structure, which will allow the owners to get the returns from the success of the project in the near future. The token holders will be eligible to get an annual dividend of 15% of the total profits earned by the Gigajoule project. This dividend distribution will be subject to the proportion of the tokens held by the customer.
The basic information about the GIGJ Token:
- Name of the token: Gigajoule Token
- Token Base: ERC-20 standard
- Total Number of Tokens Issued: 65,625,000
- Total Number of Tokens Offered for Sale In IEO: 52,500,000
- Standard Token Price: USD 1.00
- Token Symbol: GIGJ
- Soft-cap: USD 10,000,000
- Hard-cap: USD 50,000,000
GIGJ token IEO Schedule
As per the Gigajoule official website, initial coin offering shall be divided into two general stages:
- First, a private pre-sale.
- Second, an IEO public sale
The distribution of the token shall be made in the following manner:
- IEO will account for 80%
- Partners and Advisors will be entitled to 10%
- Gigajoule Team will avail the remaining 10%
For the usage of funds, the firm has bifurcated the capital into various sectors, with a certain percentage directed towards each of them.
- Setup Costs- 40%
- Shipyard Staff- 5%
- Production Staff- 5%
- Barge Construction- 25%
- Project Development- 25%
Gigajoule is a revolutionary platform that utilizes state of the art and advanced technology in the form of floating power electricity plants. Each floating plant is placed on a barge and has two SGT-A65 aeroderivative gas-powered turbines. The technology is the brainchild of Siemens. A total of 4 barges constitute each project providing a total output of 528 MW. The team is likely to kickstart the project in Nigeria.