Stox ICO to Comment on Exit Scam Rumours

Team was able to raise $33M last year and is developing prediction market
12 November 2018   1347

The Stox cryptocurrency project, which collected $ 33 million at the ICO last August and is engaged in developing the blockchain prediction market, commented on the information on strange transactions with tokens in its smart contract and breaking relationships with a number of partners that was recently distributed on the web. This anonymous source re-published a message that was published and already answered

more than a year ago (26.9.2017). This source copied the message and shouted “Exit scam” without having any cause whatsoever.

We would like to stress that Stox will bring legal proceedings against anyone who defames Stox with unfounded allegations.

Stox Team

Message about Stox
Message about Stox

The developers explain that the tokens revocation function is used to cancel the tokens allocated for partners, and their subsequent redistribution in accordance with the new conditions and principles laid down in white paper.

They also admit that they broke off relations with the Israeli company Commologic, when they decided to transfer their operations to Europe, and Amazix, “because they could not reach an agreement on commercial terms,” but are currently negotiating to resume contacts with the latter.

Regarding the sale of a large amount of tokens by Stox consultant Moshe Hogeg, the project writes: “These are private transactions conducted by Moshe Hogeg on the secondary markets. These transactions are not related to his involvement in the company at all and were concluded independently.”

Although, obviously, it is too early to include Stox in the exit scam list, which was recently supplemented by Oyster Protocol and Pure Bit, this does not cancel the fact that since the ICO, its token has dropped by more than 97%, and the list itself can only continue to grow in the near future.

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   774

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.