BitMax to Advise Lition ICO to 'Put Aside' $1M

Bitmax exchange believes that $1M for $5M project is a good amount for 'market making' and price support
26 March 2019   398

The ICO-project Lition, which is developing a blockchain with the ability to delete data and completed raising funds last week, is unlikely to be able to release its token to the Singapore BitMax exchange, currently leading in terms of the stated trading volume.

Negotiations between Lition and BitMax stalled after the latter agreed to list the token on its own terms, writes Trustnodes, citing a statement by a prospective ICO consultant.

The listing is technically ‘free’ when services such as market making are purchased. However the fee quoted was extortionate (believed to be 1 million dollars for the market making budget on Lition which is a 5 million dollar cap project).

This took place on Thursday, the day of the sale. The Lition team were completely bemused by the quote and no agreement was signed. Bitmax then went public and announced they are currently not in discussions with Lition and wished them all the best.

'ICO Consultant'

Bitmax’s CEO, George Cao, then publicly confirmed the $1 million request, stating there’s no hard feelings regarding the fallout, “we had different views on business and listing strategy.”

BitMax Telegram Chat
BitMax Telegram Chat

In February, it was reported that imposing additional services on projects wishing to be listed on trading platforms could be dealt with by the KuCoin and OKEx exchanges.

Bibox Exchange to Conduct 4 IEO Simultaneously

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens and the IEO to be perfomed at Bibox's Orbit platform
19 April 2019   99

Bibox cryptocurrency exchange presented four projects that will conduct the initial exchange offering of their tokens as part of the first wave of IEO on April 22 on the Bibox Orbit platform.

  1. The Force Protocol (FOR) is a distributed protocol of crypto-financial services based on a public blockchain system, providing opportunities for cross-platform asset transaction and communication, use of crypto assets from several blockchains to provide steybcocoins, issue tokenized bonds, etc.
  2. Ludos (LUD) is a solution for a distributed gaming ecosystem designed to bring large-scale blockchain games and economic incentives to life.
  3. Staking (SKR) is a decentralized asset management platform that allows investors to safely stack tokens.
  4. X-Block (IX) is a computing system based on the blockchain architecture.

The allocation of tokens will be perfomed in the order of the lottery among holders of BIX tokens. Potential investors will be able to declare how many tokens of a project they want to purchase based on their BIX, after which a separate rally will be held for each of the projects.