A Fifth ICO
Website CoinList is certainly not sitting back on it’s laurels and has launched its fifth ICO. The ICO is looking to raise $61 million in a bid to transfer all of its assets into tokens. The previous four ICOs were raised for: Origin (a sharing solution); Props (for live streaming); Blockstack (a decentralized web protocol); Filecoin (for cloud storage). You can see the development of the company from these five ICOs alone.
CoinList is a well known website with the main goal of being the best option for those wishing to sell tokens. The new ICO for solution TrustToken was released at the beginning of the week and has a great deal of interest already. TrustToken has been developed on a Blockchain and has been set up for the buying and selling of real-world assets. It is an all encompassing platform that offers users the chance to do whatever they need to in terms of trading. This could be in any form from meeting regulatory stipulations or designing a legal entity. The choices are endless. The TrustToken then acts as security or insurance for the action.
TrustToken will obtain the capital required by selling off 435 million Ethereum-based tokens. Registration for the ICO will begin on Tuesday 17 July with the sale actually commencing on Wednesday 18 July. The end date of the sale has not been announced but it is clear that once the $61 million has been raised, the sale will end.
CoinList’s Other Products
CoinList is well renowned for one of its other products – TrueUSD – which is a US Dollar based stablecoin. However TrueUSD only works if something such as TrustToken is in place. TrustToken provides confirmation of a trustworthy source for TrueUSD to operate in. In the future, CoinList is also looking to develop something similar for both the Euro and the Yen. A very brave but extremely important move.
In the mid-term, CoinLIst has suggested that it would very much like its TrustToken holders to have a lot more on offer to them including the ability to stake. This would be another big step in the development of the industry. At the moment though, nothing is set in stone and the development team are working hard to see whether this is a realistic possibility.
A Good Sign
It is very promising to see that CoinList has the confidence in the market to release a fifth ICO. It is certainly a very positive sign for the Cryptocurrency industry. CoinList would not have taken the decision lightly to go out to the market with a fifth ICO if they were not confident that the money could be raised. It is a strong indicator of the market at the moment and it looks as if things are finally starting to pick up in the Cryptocurrency world. Although it will need a few more of these types of positive stories to put people’s mind at rest. With all of the negative information at the moment surrounding the amount of ICOs that are scams it is wonderful to see a very good news story.