EXMO, a cryptocurrency exchange that has been operating for four years, last week announced it will hold a token sale to fund the launch of margin loans functionality for traders. The campaign, it was revealed, will be held with technical assistance by Blockstarter, a software developer creating full-scale ICO solutions.
Blockstarter is involved in developing individual solutions for businesses and offers a comprehensible user-friendly interface and APIs that enable launching an ICO or a token sale even for those who don’t have tech expertise that is usually required for that purpose.
EXMO’s token dubbed EXMO Coin will entitle its holders to receive 50% of the exchange’s revenues from marginal loans as dividends on a monthly basis. According to the exchange, once deployed, marginal loans will enable over 700 thousand users to trade cryptocurrencies “on a grander scale.”
The EXMO team has previously stated that it will provide a 1:2 leverage for currencies like BTC, ETH, USD, and Russian Rouble, with additional options, rolled out as the demand for the service grows. Once the token sale is over, users will be able to trade EXMO Coin for BTC and ETH. However, the exchange’s administration plans on adding other pairs like USD or EUR, as well as other altcoins not mentioned above.
“We chose Blockstarter because the company offers a ready solution for crowdsales. What is just as important is that we have found a great common ground, which is crucial when it comes to working on complex projects with unusual nature.”
The exchange’s administration stressed that the Blockstarter team will be able to access only the addresses associated with the contributors while the access to the wallets will be controlled by EXMO. “Therefore, the project guarantees total safety of payments from investors. Once all transactions are verified, ERC20 tokens of EXMO Coin will be sent to the investors to the ETH addresses specified in the investor’s panel settings,” the company’s official statement reads.
The EXMO Coin will be issued on February 26th, 2018. The token sale will last for a month to end on March 26th, 2018. The maximum cap of the campaign is set at $300 million.