KuCoin to Unveil Coti IEO Details

Additionally, the exchange is going to delist 7 tokens; continue scrolling to learn which exactly
28 May 2019   298

The KuCoin cryptocurrency exchange this Tuesday revealed the details of the upcoming IEO of Coti project, which will be held on June 4th.

About 46 million COTI tokens will be put up for sale through KuCoin Spotlight. By distributing them, the project expects to raise up to $ 3 million.

As in the previous IEO at KuCoin Spotlight, the allocation of tokens will be distributed in a lottery format, where one winning ticket will allow the user to purchase COTI for $ 500. Unlike Binance, KuCoin distributes tickets based on several factors, such as the number of KCS blocked by users and the number of KCS in their accounts. Also, one additional ticket will be available to participants of the currently planned IEO Chromia, who will not be able to get an allocation in this campaign.

Coti is developing a blockchain protocol focused on decentralized payments.

Additionally, KuCoin is going to delist some of the tokens. They are:

  • Block Array (ARY)
  • Datum (DAT)
  • Shivom (OMX)
  • ClearPoll (POLL)
  • Snovio (SNOV)
  • Solaris (XLR)
  • LAToken (LA)

Deposits for all of these tokens will be disabled on May 28, and the corresponding trade pairs will close on May 31. Withdrawals will be available until August 31st. The exchange does not specify the specific reasons for the delisting, except that these projects failed the test, saying it happened "according to the [Special Treatment Rule]".

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   797

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.