tZERO ICO raised $100M in first sale day

TZERO is an alternative trading system (ATS) or dark pool that's registered with the Securities and Exchange Commission (SEC)
20 December 2017   1438

The initial phase of the crowdsale of the online retailer Overstock related startup tZERO (t0) in a record time attracted a lot of investors. On the first day of the campaign, the size of the site financing reached $ 100 million, CEO Patrick Byrne told CoinDesk.

We had, yesterday, 2,000 accredited investors come and apply and get the process going. We woke up this morning, and people have reached for over $100 million. Which may mean we get to compress this.
 

Patrick Byrne

CEO

During the presale of tZERO, investors are offered "Simple Agreements for Future Equity" (SAFE), which can then be exchanged for tokens.

In total, the campaign was planned to be divided into two stages, each of which will last for a month: preseil for strategic investors is limited to $ 100 million, and the remaining $ 150 will be opened for other accredited participants. Thus, the original two-month program can now be reduced.

tZERO is an alternative trading system that meets all the requirements of the Securities and Exchange Commission (SEC). The project is based on the Medici block, developed by Overstock from 2014.

In connection with the legal restrictions and SEC rules for open proposals, Patrick Berne added that he can not disclose which bonuses will be given to investors. He noted that the biggest "bonus coupons" accounted for the first $ 10 million of sales, then - up to $ 100 million. There are three levels of incentives.

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ICONOMI Tokens to Become Securities

ICONOMI is going to become a fully regulated professional provider of virtual financial assets
27 September 2018   4020

ICONOMI announced a change in the corporate governance model and the release of security tokens.

The company's blog notes that ICONOMI is striving to become a fully regulated professional provider of virtual financial assets. Currently, the company expects to receive an appropriate license from European regulators.

To realize the set goal, the company needs to change the ownership structure. Also, in order to unify the corporate structure, the project intends to unite the service operator and the platform.

From November 1, ICONOMI (ICN) token holders will be offered to convert coins to tokenized shares under the eICN ticker, or exchange them for Ethereum (ETH). The latter will be used on a platform to pay commissions to fund managers.

The first stage of the transition period will end on December 31, and the process of tokenization ICONOMI starts in the first quarter of next year. The new joint-stock company (ICONOMI AG) will be registered in Liechtenstein. The cost of one share will be 1 Swiss franc.

Verified platform users can become shareholders of the new company. The exchange of ICN for security-tokens ICONOMI AG will last until December 31 of this year. On the same day, the utility-tokens ICN will cease to exist.

The holders of eICN tokens will have the rights of corporate governance and, accordingly, will be able to choose the members of the board of directors, vote for changes to the charter of the company, and so on.

Additional information about the process of transformation of the company and its tokens will be published before November 1, 2018 on the ICONOMI blog.