DeFiDrop announces its first launchpad project for July 2021 — Cannumo

Featured in News

DeFiDrop announces its first launchpad project for July 2021 — Cannumo

Jul 8 2021

In brief

  • DeFiDrop has announced a new token sale — its first for July.
  • The sale will offer tokens of the project Cannumo, which offers investing in cannabis growth.
  • The sale will take place on July 14th, with the final snapshot being taken on July 10th.

DeFiDrop recently announced a new launchpad project, Cannumo — a project that focuses on helping retail investors invest in cannabis growth.

After several very successful token sales in June, DeFi launchpad and incubator, DeFiDrop, is already preparing to hold the next one, which will be its first token sale for July 2021. According to the project’s recent announcement, the new project to launch on DeFiDrop’s launchpad will be Cannumo, which will hold its token sale on July 14th, at 14:00 UTC, with the price of $0.03 (0.03 BUSD) per token.

The max allocation cap per wallet is 3,000 BUSD, and the project hopes to hit a hard cap of $124,000. The final snapshot for whitelisted allocations will be taken on July 10th, at 19.00 UTC.

What is Cannumo?

Cannumo is a brand-new project that focuses on offering a rich experience for anyone and everyone who wishes to participate in the growing cannabis industry. Essentially, the project aims to be a stress-free, three-pronged solution for aspiring cannabis entrepreneurs. This approach relies on 3 applications designed to offer and enroll cannabidiol (CBD) products, which Cannumo itself is producing, into the market.

The project already owns several state-of-the-art growing containers, which are based in Switzerland. According to the project, the containers will yield four harvests per year.

As mentioned, the project has 3 approaches, which include:

Cannumo Growfunding

According to the project’s website, anyone interested in investing in cannabis growing can join and partake in Cannumo Growfunding. The project explains that Growfunding is similar to crowdfunding, where anyone who has a basic understanding can invest in the process of growing cannabis. Depending on the results of the yield, users gain a corresponding interest rate.

So far, something like this was only available to big venture capital businesses, or wealthy investors. Now, Cannumo will make it available for anyone willing to join up.

Cannumo CBD

The next approach is called Cannumo CBD, and it was created for those who wish to become cannabis products merchants. Of course, this will only include products created by Cannumo itself. But, there are benefits to this, as participants won’t need to acquire any sophisticated equipment or anything of the sort. Anyone can join and become a seller simply by installing the project’s plugin into an e-commerce website of their choice. Once the desired amount of product is ordered, Cannumo will take care of everything else, including packaging, shipping, licensing, and more.

Cannumo Wallet

Lastly, the third approach is the Cannumo WAllet, which allows users to sell CBD products in a more lenient way. This was necessary because third-party payment gateways are still mostly avoiding accepting payments from cannabis sellers. Even businesses that manage to integrate a provider are kept a close eye on, as they are considered a risk group.

As a result, all transaction fees go up to a 10% margin, which is, in the end, quite bad for the business. Cannumo decided to bypass the entire issue simply by launching its own software wallet, which will serve as an alternative to the mentioned issues — from being ignored and rejected to being punished for dealing with the ‘undesirable’ assets.

The project also allows users to use its CANU token and avoid big commission rates. With minimal fees, users get to keep most of the money that would otherwise be used for transaction costs, so users benefit from lower costs, while the company benefits from the use of its token.

Projects like Cannumo, which are dealing with cannabis products, and especially with cannabis products and cryptocurrencies, are facing a lot of challenges. Apart from technical and regulatory ones, there are political challenges, sociocultural ones, and even economic ones. But, with the crypto industry being open-minded and accepting as it is, projects like DeFiDrop are more than happy to help.