Xsolus to Launch ICO on its own Crowdfunding Platform

Xsolus project aims to  seeks to grow a global team of like-minded individuals to build real-world solutions, innovate blockchain-related technologies, and increase the stability and governance of actors in the community
30 April 2018   199

Xsolus, a blockchain solutions company, offers its cryptocurrency crowdfunding campaign beginning May 1, 2018 at 15:00 GMT. The campaign is set to run for 4 weeks until May 29, 2018, or until all coins are sold out.

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The crowdfunding campaign aims to provide an opportunity for potential partners, customers, users and enthusiasts to participate using Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Litecoin (LTC) and Monero (XMR) in exchange for Xsolus (XSO) coins in order to raise funds for the development of Xsolus’ product ecosystem of tools and technologies, and to expand Xsolus’ services capabilities.

Participants in the crowdfunding campaign can use XSO coins on Xsolus’ Coin Of The Realm (COTR) blockchain to pay for Xsolus’ products and services, and trade them on cryptocurrency exchanges; including Xsolus’ own BULLBEAREX decentralized cryptocurrency exchange. XSO coin holders are also given exclusive rights to participate in private pre-sales and/or first rounds of future Xsolus and InventCrypto (IC) incubator partner crowdfunding events.

Xsolus’ crowdfunding campaign will be conducted on Xsolus’ own multiple simultaneous Crowdfunding Platform (CROWDFUND). Subsequent rounds for the current crowdfunding campaign may happen sooner based on demand.

About Xsolus

Xsolus is an IT solutions company specializing in blockchain technology applications, web and mobile app development. Headquartered in Panama, Xsolus has a global presence spanning across Hong Kong, Singapore, Philippines, Canada and the United States. Comprised of solution architects, software developers, UI/UX designers, and cryptocurrency enthusiasts, Xsolus believes in the power of decentralized systems, democratic finance, censorship resistance, transparency, and innovation.

global presence The global presence of Xsolus

Some of the products Xsolus is currently developing include an open source blockchain platform, a decentralized cryptocurrency exchange, a crowdfunding/ICO platform, and a wallet and payments solution.

Founders of Xsolus have a combined experience of nearly 50 years and are active in blockchain-cryptocurrency development and mining. They also have a wide range of related industry experience including in finance and trading.

Xsolus seeks to contribute to the blockchain-cryptocurrency community by continuing to grow a global team of like-minded individuals to build real-world solutions, innovate blockchain-related technologies, and increase the stability and governance of actors in the community.

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3 ICOs of Extrabit banned by Alabama Securities Watchdog

Alabama Securities Commission (ASC) has ordered alleged cryptocurrency mining firm Extrabit to stop its token sale offering in the state
25 May 2018   97

The U.S. state's securities regulator, the Alabama Securities Commission (ASC), has supported its colleagues in Texas and New Jersey in hitting out at ICOs that are soliciting local citizens. The cease-and-desist order which was published yesterday  claimed that the agency has ordered purported cryptocurrency mining firm Extrabit to cease its token sale offering in the state.

The ASC declared the company has been illegally begging Alabama investors with what it considers an unregistered securities offering after it announced its token sale on the website of WSFA, an NBC-affiliated TV station recognized in the state capital, Montgomery. While presently the online advertisement appears to have been taken down, the agency said in the order that the firm originally claimed that investors in the pre-ICO phase could buy Extrabit's token "EXB" at half price.

The advertisement claimed that in order to take part in the pre-sale, the user should invest $20,000 and after the purchase, the tokens will be sent to MyEtherWallet within 48 hours. Then, Extrabit's white paper states that, since the firm generates its profits chiefly from mining bitcoin, zcash and monero, it pledges a 185 percent return on investment every quarter for investors who maintain a positive balance in their EXB wallet.

As well as offering unbooked securities, the ASC said the project made "materially misleading" suggestions to deceive investors. Extrabit is not the only token project that is targeting residents in Alabama. A Google search for "token sale" on the WSFA website currently comes up with over 200 press release-style ads from various ICO projects. 

The ASC has also checked two other token sale projects, called LEV and Platinum, with cease-and-desist orders entered on May 2 and May 18. Like with Extrabit, the agency charged the two projects of selling unregistered securities in Alabama while making vaporous promises to potential investors over the likely returns on investment.