Camino Network Foundation, the organization behind the travel-focused blockchain network Camino, has announced the first-ever public sale of its native CAM token. The cryptocurrency will serve as the fuel enabling a suite of decentralized apps and services set to modernize the travel sector.
The public sale comes on the heels of several successful private rounds that raised over $10 million from industry participants, venture investors and ecosystem partners like Lufthansa, TUI, Eurowings and Sixt. With the public sale, Camino opens up its network to general participation for the first time.
Function of Camino Network
“We designed Camino specifically for the global travel ecosystem,” said Camino Network CEO Jonas Primbs. “Seeing leading brands adopt the network has been great validation, but allowing anyone to own and use CAM unlocks a new wave of innovation.”
In total, one billion CAM tokens will be minted by the non-profit Camino Foundation. Of those, 900 million were pre-mined at launch in 2023, while 100 million are being dripped out as rewards. For the public sale, 75 million tokens are now available across three discounted tranches – 0.15 CHF, 0.175 CHF and 0.2 CHF.
Participants must commit at least 1,000 CHF (approx. $1,100) to take part. All tokens will then be locked for 1.5 years, with a one-year vesting schedule to ensure longer-term alignment. Token holders will earn 3% annual rewards over two years, equal to 6% total.
Benefit of CAM Token
As the native currency in Camino’s ecosystem, CAM facilitates transactions, provides access to applications, and incentivizes user participation across the network – from major travel brands to indie developers. Early examples of live Camino dApps include loyalty point exchanges, tokenized travel vouchers, and dynamic travel insurance.
The public sale marks a coming of age for Camino, as network effects compound across users. “We’re building the base layer infrastructure for the next generation of travel products and services,” Primbs said. “As we continue onboarding partners, CAM ties everything together and enables true peer-to-peer exchange of value.”
Under Swiss law, CAM is classified as a utility token granting digital access to a decentralized network. Travel and tech enthusiasts alike can now own a piece of the blockchain built specifically for global travel. Camino’s founders view the public token sale as a kickstart for the next phase of ecosystem growth.
The Foundation expects to announce exact listing timelines and exchange partners once sale conditions are finalized. For now, openings remain for accredited participants in one of travel’s most anticipated crypto projects.
Source: https://coincodex.com/article/37297/camino-network-launches-public-sale-for-cam-token-native-coin-of-the-travel-industrys-blockchain/