Bread (BRD) is an Ethereum token that was sold in an ICO by Bread Wallet. Bread Wallet simply goes by BRD now. Let’s learn more about them before we dive into the Bread token.
BRD is an easy-to-use cryptocurrency wallet. It has multi-coin functionality. This means users can use BRD with a variety of different coins/tokens.
Users can trade, store, and manage crypto using BRD wallet. BRD is known for its smooth interface, making it a favorite among new users. It also provides fiat on-ramping, meaning users can buy crypto in-app.
Bread Wallet was originally released for IOS in 2014. It was later released for Android as well. BRD is non-custodial. A 12-word phrase is generated when you create your wallet.
BRD is Open Source and uses Simplified Payment Verification (SPV).
Charlie Lee, the creator of Litecoin, was an advisor to BRD. He claims he was an advisor for the BRD app but not for the Bread ICO. He also stated he did not receive any Bread tokens as compensation.
BRD is based in Switzerland and claims to have customers in over 150 countries. Customer support is advertised as “one click away”.
The Function of Bread Token
Discounts on services are also given to BRD holders. Additional services and increased functionality are expected to be available to BRD holders.
There was a private pre-sale and a public crowdsale. The pre-sale sold 30 million BRD tokens for $12m. The crowdsale raised $20m, with 26 million tokens being sold. 7 million of the crowdsale tokens were sold on Binance Launchpad.
$32 million USD was raised during these events. These sales took place in December 2017.
33% of BRD tokens (30 million) were kept by Bread itself. The plan is to distribute the remaining BRD as rewards for completing tasks like posting on social media, answering surveys, etc.
You can check the current distribution as well.
The ICO price was 900 BRD per 1 ETH.
Ranked #129 by market cap and worth $0.251609 USD.
900 Bread cost 1 ETH. So each BRD cost 0.001111. The price of BRD is currently 0.00169834 ETH. So the price, based in ETH, is up 52.9%.
Priced in USD, BRD is down almost 84%, and down about 93% from its all time high. BRD has actually held up better than ETH since the All Time High price and crypto winter thereafter.
The original roadmap is shown below.
Some of these milestones have not yet been reached. The market crash of 2018 may have slowed progress. Some are still confident that BRD will see its vision come true.
BRD has seen some increased attention lately after a partnership announcement with Ripple.
The white paper mentioned decentralized asset exchange, P2P lending, etc. These features are not yet live.
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