NEM based ICO platform announced

New fundraising platform COMSA is announced by the Japanese company Tech Bureau
06 August 2017   3888

Japanese fintech and cryptocurrency projects developer Tech Bureau announced the launch of a new COMSA platform, intended for ICO.

COMSA is a fundraising platform designed for ICO. The platform is based of the NEM protocol. According to the representatives of the project, this decision is designed to optimize the process of attracting investments in digital currency.

Schematic diagram of the process of attracting investments using the COMSA fundraising platform:

COMSA scheme
COMSA scheme

According to the developers, new solution will support the process of the initial coins offering and their further output to the exchange will be streamlined.

COMSA showcases the whole spectrum and versatility of the NEM blockchain solution and how it can help make the ICO process more transparent and streamlined.

Lon Wong 
President, foundation

Thanks to COMSA, it will be possible to conduct trustless transactions in the platform currencies. This eliminates the need for intermediaries, such as, for example, escrow services.

Also, according to the developers, any token, released on the COMSA platform, will be compatible with NEM and Ethereum. One of the cool feature of the new platform can be called the ability to design various services based on blocking technology.

In addition, according to developers, the platform greatly simplifies the process of ICO, making it much more understandable for all its participants.

COMSA will only create decentralized projects with proper use-cases and application to the blockchain world. Existing business entities will not need an ICO to utilize this platform. They can introduce their fundraising and blockchain technology and later build a solid business model. COMSA is a one stop shop solution for token creation and exchange.

Takao Asayama
CEO, Tech Bureau, Corp.

The start of the COMSA platform is scheduled to start on October 2, 2017. The management of the Tech Bureau said that the funds raised during the ICO will be used to further expand the company and improve the platform. It is known that part of the funds will be directed to the development of Zaif's crypto-exchange and blocking solutions called Mijin, which are the main parts of the COMSA platform.

ICOs May Allocate $24B Tokens to Themself

As reported, price of tokens, "left to cover the operating costs", reached $80B at the peak
17 January 2019   145

The total cost of the tokens that the organizers of well-known ICO projects have left to cover the operating costs and remuneration of developers at the time of release was $ 24.2 billion. At the peak, their price reached almost $ 80 billion. This is evidenced by the results of a study conducted by BitMEX together with the TokenAnalyst.

At the current illiquid rate, the assets of ICO-projects in their own tokens amount to about $ 5 billion, having depreciated by more than $ 70 billion.

However, the researchers note, this value is rather arbitrary, since the liquidity of tokens at peak levels was low. It is also incorrect to classify changes of this amount as losses because the organizers of the ICO transferred tokens into their wallets in accordance with the crowdsale conditions.

Having studied the archive of token transfers from ICO-team wallets, BitMEX and TokenAnalyst came to the conclusion that the realized profit from the sale of such tokens could be $ 1.5 billion, with the proviso that some of the tokens might not have been sold or left the wallets for other reasons .

The largest amounts of tokens in their wallets were credited by the Veritaseum and Noah project teams, which, as analysts say, looks “almost comical” against the background of real trading volumes.

Token data up to Dec 2018, data based on prices at the time(s) of issuance
Token data up to Dec 2018, data based on prices at the time(s) of issuance

This analysis highlights the lack of standards and transparency in the ICO market, especially when it comes to the allocation of tokens to the founding team’s wallet. Teams were often able to mint, burn, buy, and sell (their own) tokens at will, without analysts being able to easily track what is occurring. We would often see tokens in exchange clusters, and it was hard to tell whether the token project “paid” the exchange to list tokens or the token project just transferred their treasury to the exchange to cash out.

BitMEX Researchers' Report

In November 2018, BitMEX CEO Arthur Hayes said that the tokens of the largest ICO projects would collapse after entering the secondary market.