Trade Token Bucks Recent Downtrend with $11m pre-ICO

Trade Token Bucks Recent Downtrend with $11m pre-ICO

 

Whilst November appears to have been a particularly difficult month for Blockchain start-ups looking to raise capital through the ICO route, a handful have managed to buck the trend. 

Fintech start-up trade.io has raised more than double its soft-cap target of $5million during its pre-ICO sale period which finished yesterday. The Switzerland-based company aims to bring in a wopping $135million during its full sale which runs in December. 

275 million of trade.io’s Ethereum ERC20-compliant Trade Token (TIO) will be put up for sale between December 5th and 15th, at a rate of 1 ETH to 625 TIO. 

Peer-to-Peer Liquidity Focus

The company is creating a blockchain trading platform allowing peer-to-peer trading of a range of assets, including cryptocurrencies. Their hope is that blockchain technology can democratise investment by enabling greater efficiency and transparency.

The project’s unique selling point will be its proposition of a peer-to-peer “liquidity pool”. Traditionally in financial markets, trading profits accrue to a few major players. Under trade.io’s proposals up to 50% of these profits will be distributed back to a shared liquidity pool and ultimately the owners of Trade Tokens themselves. CEO Jim Preissler describes the mechanism as “using distributed technology to distribute wealth”. 

Having surpassed their soft-cap target will now allow the company to build on its technological infrastructure. Preissler says he is “extremely pleased” with the response so far in what is becoming an increasingly competitive space.