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SnagRide, the First Decentralized AI Ride-Sharing Application to launch MILE Token Presale on January 10

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【Summary】SnagRide, a modern ride-sharing platform built on the Ethereum blockchain that connects drivers and passengers with affordable, long distance travel, this week announced the crypto-currency presale (MILE token) will officially begin January 10, 2018.

Original Eric Walz    Jan 03, 2018 5:09 PM PT
SnagRide, the First Decentralized AI Ride-Sharing Application to launch MILE Token Presale on January 10
author: Eric Walz   

LOS ANGELES — SnagRide, a modern ride-sharing platform built on the Ethereum blockchain that connects drivers and passengers with affordable, long distance travel, this week announced the crypto-currency presale (MILE token) will officially begin January 10, 2018.

SnagRide is America's first long-distance ride-sharing community that combines artificial intelligence (AI) with blockchain technology through Smart Contracts.

"We've revolutionized the concept of ride-sharing by introducing a platform that builds atop blockchain, equipped with a level of encryption, protection and efficiency unavailable in any other type of ride-sharing application within the U.S. right now," said Terry Chan, Founder and CEO of SnagRide.

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Aware that the world is in need of more reliable and affordable long distance ride-sharing solutions, SnagRide aims to provide a more convenient and comfortable traveling experience, one that is affordable, eco-friendly and reliable.

SnagRide is working on fulfilling the need for an affordable, secure and convenient mid to long-distance ridesharing alternative in the U.S. that users can use to request door-to-door pick up and drop off all across the country using their smartphones. Snagride's goal is to provide users an easy and secure transportation alternative between major cities that does not involve uncomfortable seats on a slow bus, unreliable and expensive regional passenger trains, or the interminable hassle of a plane ride.

Drivers that are already taking a trip are matched with passengers who need a lift, the latter of whom contribute their share of the cost of the trip. Passengers can pay using SnagRide's MILE tokens or fiat money. The platform supports both, but they prefer a token-driven ecosystem to avoid authorization and transaction fees that are inherent with credit cards.

Ethereum Smart Contracts

Smart contract technology enables the new platform to securely manage the lifecycle between drivers and passengers that are willing to travel together between cities. SnagRide's AI bot uses data analytics from Ethereum smart contracts to match drivers and passengers who are willing to travel together. SnagRide's AI technology matches drivers and riders based on their habits and preferences from prior SnagRide journeys.

"We are very excited for SnagRide to be released in the App Store and Android Play Store for download in the coming months, delving into the ride-sharing market that has desperately been in need of a long distance ride-sharing service," said Chan.

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SnagRide Token Sale

SnagRide has announced the launch of its SnagRide (MILE) token sale. The Pre-Sale phase of the crowdsale is scheduled to happen over a span of four weeks, starting January 10th, 2018. The presale will be followed by SnagRide's official crowdsale campaign.

The participants in the SnagRide presale can purchase MILE tokens with BTC, ETH and LTC payments. The platform offers an attractive bonus to early investors. Those who participate during the first week of the presale stand to receive a 40% bonus. The bonus percentage will reduce by 10% each week, leading to 30%, 20% and 10% during the second, third and fourth weeks respectively.

For example, the token exchange rate is 1 MILE = $0.25. Using today's market price, each Bitcoin costs $15,185.80, so a user end up owning trips totaling 60,743 miles, plus a 40% bonus which brings the total mileage owned to 85,040.  Ethereum is currently trading at $965.30, so at the token exchange rate of 1 MILE = $0.25, 1 ETH is equal to 3861 miles, plus a 40% bonus with next week presale making it 5,405 miles owned.

SnagRide has set a maximum cap of 100 million MILE tokens, of which 84% will be distributed to the public, 15% will be retained by the team, and 1% will be allocated for bounties. All unsold tokens after the completion of crowdsale will be burned.

After the public crowdsale ends, SnagRide aims for the public release of the world's first blockchain based AI city-to-city ridesharing service by the fourth quarter of 2018.

As America's first long-distance ride-sharing community that draws on AI and blockchain technology through Smart Contracts, SnagRide is poised to be a disruptive and unique platform for ride-sharing.

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