ICO News: Trade.io Attracts USD 20 Mil and Counting
It's no secret that ICOs have been on a tear in 2017, having raised somewhere between USD 3.7 billion and more than USD 4 billion, depending on which source you use. While the year-end clock is ticking, issuers are still adding to the tally, evidenced by Trade.io's ongoing ICO in which it has already raised more than USD 20 million across more than 11,000 participants. The robust response to the Trade.io token sale is an indication that upcoming ICOs in 2018 will be met with similar enthusiasm.
The Trade.io ICO will unfold for another six days, after which time the company's token will begin trading on several platforms, including HitBTC, EtherDelta, Civic and Bancor, among others. Participants in the ICO can exchange at a rate of 1 ETH = 600 ERC20 Trade tokens.
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Inside the Trade.io Model
Trade.io is a decentralized trading platform that changes the way that participants invest. The startup is designed to redistribute hundreds of millions of dollars in profits captured by banking revenue back to the consumers via a peer-to-peer liquidity pool. Trade.io officials point to the ability of the blockchain to decentralize the banking system, which they say is what people are looking for. Based on the robust response to the Trade.io ICO, they may be onto something.
The startup boasts a deep bench of veteran financial and technology industry veterans across trading, investment banking, risk management and the blockchain. Their platform is a P2P shared liquidity pool by which profits are redistributed back to customers and the model is 50/50; Trade.io shares half of the profits with its customers. They're seeding the liquidity pool with a combined USD 50 million and 50 million of their Trade tokens. ICO participants begin sharing in those profits right away.
Proceeds from the Trade.io ICO will be directed toward strengthening the liquidity pool for which the budget has already been met, creating the blockchain exchange, developing smart contracts, licensing and acquisitions.