The goal of weedo (WEEDO) is to use blockchain technology to support sustainable cannabis plantations. Investors in weedo will receive digital tokens and this will serve as shares in a cannabis farm. The price of one weedo digital coin will be equivalent to the price of one gram cannabis. Thus holders of the tokens can exchange them for cannabis or convert them into other virtual currencies or just fiat currencies.
Investors of weedo will also benefit from sales of cannabis from the plantation without their participation being required in the production process. In the production of cannabis technologies that are environmentally friendly will be employed. Proceeds from the Initial Coin Offering will be used to purchase and develop an organic cannabis farm that is fully sustainable with a view to producing a product that is of superior quality.
Solar energy solutions
Some of the features of the farm will include solar energy solutions that will be used to mine virtual currencies and run air and lighting systems. The farm will also use biological fertilizer to ensure that the cannabis produced is entirely organic. Additionally the heating system of the farm will use the heat generating from the mining of digital currencies.
At the moment the primary goal of the weedo project is to ensure that the weedo token is successfully issued and sold. The nominal value of the token is $2.30. Consequently the proceeds from the Initial Coin Offering will be spent on initiating the production cycle of the weedo farm. Efforts will also be made to ensure that weedo products become available at online stores and other retail outlets where legal cannabis is sold. Also a production line will be created for weedo merchandise and items.
The total supply of weedo tokens during the Initial Coin Offering will be 17.5 million. There will be four stages in the process and payments will be accepted in the form of other virtual currencies. The digital currencies that will be used in buying the ICO tokens of weedo include Waves (WAVES), Litecoin (LTC), Bitcoin (BTC) and Ethereum (ETH).
The pre-sale period will be on June 10 to June 12 while the public sale will occur in subsequent weeks.
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