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   669

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.

GRAM May be Traded at Liquid at Triple ICO Price

Bloomberg says that Telegram tokens, that may appear at Liquid will be sold by Gram Asia at $4 per token, but there's no official info from Telegram
04 July 2019   1170

Even before the official public release of the cryptocurrency of the messenger, Telegram can increase in price by 200% relative to its value during the initial offer of coins. It is reported by Bloomberg.

As previously reported, Telegram tokens may appear on the Liquid Bitcoin Exchange already on July 10. The distributor is Gram Asia, which calls itself the largest holder of GRAM tokens in Asia. It intends to put up for sale rights to cryptocurrency at $ 4 per unit.

At the same time, one of the investors said to the publication that at the time of purchase the price of 1 Gram was $ 1.33.

It is worth noting, however, that after the announcement of the public sale of Telegram tokens to Liquid, the media reported that this intention had nothing to do with the official plans of Telegram.

Then one of Telegram's investors stated that no one has the right to sell tokens before their official launch in accordance with the signed agreement. Moreover, representatives of the popular messenger noted that they first heard about Gram Asia.

Later, CEO Liquid Mike Kayamora admitted that Telegram has no relation to the placement on Liquid: the deal was concluded exclusively between the exchange and Gram Asia, which allegedly is an incubator for the TON project.

The Block's leading analyst Larry Chermak on several tweets expressed skepticism about the announced Telegram tokenale based on the Liquid stock exchange, saying that he would “think twice before making a decision to invest.”