MultiVAC IEO Ended in 7 Seconds

MultiVAC team was able to raise $3 600 000, selling the 600 000 000 MTV tokens
04 April 2019   1493

The initial exchange offering of the MultiVAC cryptocurrency project was performed at the KuCoin Spotlight platform. The campaign lasted seven seconds, while 1661 users from 59 countries were able to take part in the campaign.

In total, the project has released 10 billion MTV tokens, of which 600 million coins have been allocated for sale on the Spotlight. The price of 1 MTV was $ 0.006, therefore the maximum fundraising goal was $ 3.6 million.

Only holders of the KCS, internal exchange's token could take part in the campaign; the maximum possible amount of investment was 1902 KCS.

Earlier, Kucoin reported that in the future, IEO projects on the KuCoin Spotligh platform will be conducted in a lottery format, similar to how Binance had previously done it.

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   891

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.