Dfinity Foundation to Raise $102M During Closed ICO

Andreessen Horowitz, Polychain Capital, SV Angel, Aspect Ventures and Multicoin Capital took part in financial round
30 August 2018   417

The Dfinity Foundation project conducted the closed sale of tokens for accredited investors, raising $ 102 million to create its own blockchain protocol. The round of financing was headed by the cryptocurrency division of the venture company Andreessen Horowitz (a16z). This is reported by Bloomberg.

Polychain Capital, SV Angel, Aspect Ventures and Multicoin Capital took part in financial round too. The price of one token at the same time was $ 4.18, and coins for a total of $ 35 million were distributed among the community through AirDrop.

The a16z stressed that they highly value the startup's chances in the first place due to the composition of the team, which includes former developers from Alphabet Inc and Uber Technologies Inc, as well as Ph.D. from Yale University.

Earlier, the Dfinity Foundation attracted $ 61 million from Andreessen Horowitz and Polychain Capital to create "cloud 3.0".

A16z and Polychain Capital jointly financed the start-up Oasis Labs, which eventually raised $ 45 million.

In addition, Polychain Capital and bitcoin-exchange Binance invested in the development of Terra stablcoin.

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Eidoo to Release Gold Backed Stablecoin

New stablecoin is called Ekon and it will be possible to it for one gram of gold of 999 test
20 September 2018   261

The Swiss blockchain start-up Eidoo has joined the ranks of projects launching own stablecoins, announcing the creation of a stable coin tied to the price of gold.

Eidoo's stablecoin is called Ekon and is a token compatible with the ERC-20 standard, which will be available in a multi-currency purse and on a hybrid decentralized project exchange. It will be possible to exchange 1 Ekon for one gram of gold of 999 test, which is in a special storehouse. Reserves of gold will be audited every 90 days, moreover, to increase confidence in the token, the company promises to be able to watch gold vault via a video camera.

The profit from the purchase and sale of Ekon within the Eidoo ecosystem will be converted into a native EDO project token.

Despite the uniqueness of the offer of the Swiss start-up, not all experts agree with its usefulness, since the price of precious metal is not so stable. So, for the last six months it has fallen by almost $ 150, however it has grown by $ 25 since the end of August.

In October 2017, Eidoo raised $ 27.9 million in a token, and in April of this year received a license from the Swiss Financial Services Standards Supervision Authority (VQF) under the national financial regulator (FINMA).