As a seasoned crypto investor with a knack for spotting promising projects, I find the recent appointment of Yessin Schiegg to Camino Network Foundation’s advisory team particularly intriguing. His extensive background in both traditional finance and the blockchain sector, coupled with his experience at Ethereum and NEAR Foundations, makes him an ideal candidate to guide the growth of Camino Network.
The Camino Network Foundation, a non-profit organization that oversees the expansion and progress of the Camino Network, has brought on Yessin Schiegg, a previous member of the Ethereum Board, to join their advisory group.
Schiegg will share his knowledge on tokenomics and the wider Web3 economy to contribute to the network’s growth. It’s anticipated that his participation will be crucial for maintaining the platform’s longevity and prosperity, as the foundation works towards establishing a robust ecosystem.
Former Ethereum Board Member Joins Camino
Schiegg boasts a diverse work history that encompasses traditional finance as well as the blockchain realm, providing Camino with a rare combination of skills. Prior to delving into the world of cryptocurrencies, he kicked off his career conducting bank audits at PwC. Subsequently, he honed his abilities in private equity at Horizon21, an entity that was subsequently bought by SwissRe and later by BlackRock.
Later on, he assumed various top-tier financial positions, such as the Chief Financial Officer (CFO) at Source Capital, a company specializing in algorithmic trading, and at Alpha Associates, yet another private equity business.
Afterward, he chose to depart from the company and join the Ethereum Foundation, serving on its Advisory Board thereafter. While working with this organization, he assisted Vitalik Buterin, a co-founder of Ethereum, in obtaining funding for the expansion of the smart contract-centric network.
After that, he’s been involved in various positions within the cryptocurrency sector, most recently as the Chief Financial Officer at the NEAR Foundation.
Now, Schiegg is part of the Camino Foundation’s advisory team. In this role, he will collaborate with other board members to contribute to writing the upcoming chapter in the foundation’s tale of triumph.
Thomas Stirnimann, president of Camino Network Foundation’s Council, expressed excitement about the addition of Yessin to our council. His expertise in web3 and his successful history in both web3 and traditional finance will greatly benefit us as we integrate the global travel industry with web3 technology. We eagerly anticipate the strategic advice and guidance he will provide our team.
A Strategic Addition
As a researcher, I’m excited to share that in the year 2023, our esteemed Camino Network Foundation welcomed Schiegg into our advisory team. This strategic move is a significant step in our preparations for the forthcoming debut of CAM, our native token designed specifically for the layer-1 blockchain dedicated to the global travel sector.
At the moment, this token is in its initial public sale stage, with a maximum limit of one billion units. Out of the total, 900 million of these digital assets were already generated (pre-issued) when the system was first launched on April 26, 2023. The remaining 100 million tokens have not been created yet and are being held as rewards for eligible deposits.
Last September, Camino Network conducted a private presale event, successfully amassing 4.6 million Swiss francs. This financial boost enabled the network to achieve a significant fundraising milestone prior to its public sale launch, which commenced in January of this year.
In the public offering, the foundation set aside approximately 75 million CAM tokens for investors involved in the event. The pre-sale, on the other hand, will occur over three separate stages, each offering 25 million tokens.
As stated by the Foundation, in the initial sale, users have the opportunity to buy the digital asset for a base price of 0.15 Swiss Francs per token. During the subsequent two rounds, the price will be raised to 0.175 CHF and finally to 0.20 CHF.
In the token sale, the digital assets won’t be accessible right away. Instead, these CAM tokens have a vesting period of 1.5 years set by the foundation before they can be distributed. But don’t worry, during this two-year period, users will receive a yearly return of 3% on their held tokens as a reward.
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2024-09-10 17:03