Blockstack Intends to Raise Another $50M

The tokensale will be conducted in accordance with the SEC's “A +” exemption and funds is planned to be used to accelerate the development computing stack
12 April 2019   569

The New York blockchain-company, Blockstack, has filed a claim with the US Securities and Exchange Commission (SEC) to hold a tokensale in accordance with the “A +” exemption. The company plans to attract funding in the amount of $ 50 million, reports CoinDesk.

If approved, the sale of 295 million Blockstack Stack (STX) security tokens at a price of $ 0.30 per unit will be handled by a unit of the company Blockstack Token LLC.

The company wants to use the raised funds to accelerate the development of the decentralized computing stack and the application ecosystem.

We’ve been working with securities lawyers to create a legal framework that can enable blockchain protocols to comply with SEC regulations. This can potentially set a precedent for others in the industry, not just for public offerings, but also as a path to launch new public blockchains and establish a path to bootstrapping decentralized ecosystems.
 

Muneeb Ali

Co-founder and CEO, Blockstack

The A+ exemption was adopted by the SEC in 2012 and allows companies to attract up to $ 50 million of funding from American investors.

In December 2017, the Winklevoss brothers and other large investors invested $ 50 million in the Blockstack during the tokensale.

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   617

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.