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Karma token trading opens after successful $10 million ICO campaign

OpenLedger supported project Karma (www.karma.red), a global decentralized p2p lending platform today announced the official open of trading of the KRM token. The OpenLedger DEX (OpenLedger.io) and the Korean exchange CoinLink have opened gateways to trading Karma (KRM) to meet popular demand.

Adding to the token sale energy, already in its early hours, KRM has achieved a total of more than 10 million USD equivalent in transacted trading volume. Built on top of BitShares Graphene technology based blockchain, KRM tokens allow private parties from all over the world to lend to entrepreneurs directly bypassing any intermediaries, including banks.

The Karma token sale began on November 27th with a hard cap of $10M USD and a total of 1.275 billion KRM tokens on offer. The OpenLedger backed project easily met its fundraising goals by December. The Karma platform is being developed for creating socio-economic relationships between people, regardless of location, around the world. The idea is to allow people from the countries with free capital and low-interest rates to invest into entrepreneurs from the countries where money is much more expensive.

Ronny Boesing, OpenLedger CEO

Ronny Boesing, CEO of OpenLedger said, “As their PR & Marketing partner during their token sale, and with a functional blockchain presented only a few weeks after the closing of their ICO, one has to say this ICO has delivered as promised and I am personally looking forward to seeing how this project will further evolve in future.”

Karma Co-Founder’s George Goognin has a Ph.D. in Economy Math Models and is Vice-chairman of the Russian Parliament Blockchain Experts Chamber and Artem Laptev previously for 10 years managed private p2p-investment funds for SMEs. Mr. Laptev has more than 10 years of experience in portfolio management in the financial industry at Troika Dialog, Sberbank, Ancor Invest and is an International CFA-certified financial analyst.

For OpenLedger users, they can now withdraw KRM tokens from the OpenLedger DEX (OpenLedger.io) to the Karma blockchain. Here are the instructions:

Trading KRM on the OpenLedger DEX is also enabled in the following markets: bitCNY, bitUSD, BTC, ETH, DASH, DOGE, EOS, OBITS, and STEEM.

Final Karma token sale stats:

  • More than 1000 token holders.
  • More than 4000 completed orders.
  • Average order size: 2500 USD.
  • 1,005,414,013 tokens sold.
  • 269,585,987 tokens left unsold during the token sale. They are blocked for the future delegates/workers/witness payments, so nobody can access them. Only 62% of tokens will be in free flow for the first months.
  • 500,000,000 tokens will be vested for the founders for 1 year.
  • 365,611,390 tokens will be vested for bounties during 1–2 years.

About OpenLedger

Serving as Karma’s marketing partner, Open Ledger (OpenLedger.info) is a decentralized conglomerate aiming to make ICOs mainstream. The OpenLedger ecosystem includes advertising, trading, blockchain talent, and ICO marketing subsidiaries dedicated to one goal: Crowdfunding the future of startup businesses.

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