KuCoin to Unveil Coti IEO Details

Additionally, the exchange is going to delist 7 tokens; continue scrolling to learn which exactly
28 May 2019   960

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]".

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   955

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.