Source: ICO Ranker (Medium)
Institutional investors can buy and trade this newly created tokenized debt securities on a global market.Why people like it:- First project invested by Cardano (through Emurgo investment arm)- Targets a global $43 trillion market- First use-case with Porsche Design in China- Platform up and running (second version in April 2018)
How does it actually work?
1) A Small Medium Enterprise (SME) creates a profile and Uploads their invoices with a large multinational company (MNC) to the platform.
2) The MNC verifies the invoice and if in agreement with the terms, accepts the debt by using their private key.
3) We create a digital asset (smart-contract) out of that invoice – this debt security can now be traded.
4) Institutional investors make an offer to buy this debt security at a discount
5) The Investor who bids the lowest discount acquires the debt security token by paying the SME in a Fiat currency.
6) The Investor now owns the security. He can also trade it on a secondary market.
7) On the due date, the MNC pays the investor or the current holder of the debt security back in fiat currency
Pre-sale Results 5000000 USD
Total Supply of Tokens 1 billion
Token Price (USD) 0.055
Accepted Currencies BTC, ETH, ADA
Whitelist (URL) https://traxia.typeform.com/to/L3xcSO
When are Tokens Issued? June 3
Funds:40% Smart Contract Dev.30% B2B biz development15% Legal15% Liquidity bufferTMT Allocation40% Token Sale20% Liquidity Pool20% Team10% Treasury5% Bounty5% Advisor
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