MustangChain [MUST] releases their Whitepaper and funding model

“MustangChain is looking to disrupt the more than $300 Billion equine industry to defragment, verify, regulate, and unite all stakeholders involved,” says an article published by the MustangChain Foundation.

MustangChain is one of the first ICOs that will be released on the VeChainThor Blockchain, which will be releasing its mainnet at the end of June. As a result, all of MustangChain’s tokens will be raised and held in VET (VeChainThor) throughout the whole project.

MustangChain just released their whitepaper, which details their potential as well as their aims.

“Making highly lucrative markets more efficient – $300 billion market worldwide, $133billion business in Europe. Annual expenditure on equine import and equipment in the Middle East is estimated around $1.7 billion and $326 million, respectively. Equestrian industry in China includes $1.58 billion in expenditure, and maintains 40% growth each year. From 2010 to 2017 there was a staggering 1500% growth in the number of horse clubs in China. Chinese import between 2,000 and 5,000 high quality horses per year and fraud is a major issue in these transactions. In China, 43% of the horses in equestrian clubs are purchased from overseas and china spent over $70 million on importing horses in 2015.”

The MustangChain team is led by Danny van de Griend, who has “helped to facilitate a signing for multiple enterprise deals (unannounced) and government meetings in Europe.” Griend is aboard member of the European Blockchain Foundation. Additionally, VeChain CEO, Sunny Lu, will be serving as one of the advisors of MustangChain.

If you’re looking to invest in MustangChain, they have an ongoing Private Sale happening. To discuss participating, you should email info@mustangchain.io.

After the Private Sale, there will be another round for the VeChain Community, followed by a Public Round. The dates for the VeChain Community and Public Rounds have not be announced yet.