Camino Network has opened up its travel-tailored blockchain network to the general public for the first time via a sale of its native cryptocurrency token, CAM. The token powers a suite of decentralized apps designed to transform how the massive global travel industry operates.
After raising over $10 million in private rounds from major industry players like Lufthansa and Eurowings, Camino is letting anyone own and use its token through the public distribution. The nonprofit Camino Foundation will mint one billion CAM tokens, 900 million of which were pre-mined at launch last year, with the rest to be unlocked as incentives.
Benefits of CAM Token to the Public
“By taking CAM public, we can spur grassroots innovation to complement the enterprise partners building on our network,” said Camino co-founder Jonas Primbs. “It unlocks the next phase of our mission to completely reshape how travel bookings, loyalty programs and related services work.”
Of the total supply, 75 million CAM tokens have been slated specifically for the public, split into three discounted tranches based on timing. The minimum buy-in is 1,000 Swiss Francs, equivalent to around $1,100. All purchased tokens will be subject to a 1.5 year lockup period and graded vesting schedule to ensure longer-term alignment.
As Camino’s native asset, CAM facilitates all transactions on the network – from executing travel bookings to accessing decentralized apps. These dApps encompass everything from exchanging hotel points to tokenizing travel vouchers into tradable assets. CAM provides the financial rails for diverse use cases.
“We designed CAM to incentivize participation at all levels, from major brands down to indie developers,” Primbs said. “As more partners build on Camino, it ties everything together and enables peer-to-peer exchange of value.”
How Camino Network Works
Camino Network leverages aspects of public and private blockchain technology to balance scalability with security for industry use. The sale of CAM grants general membership into what’s designed as a next-generation ecosystem custom-built for global travel.
Switzerland’s progressive stances on cryptocurrency and blockchain have fostered growth in the country’s Crypto Valley hub. Under Swiss guidance, Camino’s backers view CAM as a compliant utility token granting access to a decentralized network rather than an investment asset.
With the token sale launching Camino to the world, its founders feel it serves as kickstart for realizing its full vision. “We are providing the picks and shovels of infrastructure for the travel industry’s Web3 future,” Primbs said. “Everyone is now welcome to join us in building it.”