Cryptocurrency exchange EXMO has announced a sale of EXO (EXMO Coin) tokens to fund margin loans functionality for traders.
According to the spokespersons for the company, margin loans will enable over 700 thousand users of the platform to trade cryptocurrencies on a bigger scale. EXMO will offer leverage of 1:2 for BTC, ETH, USD, and RUB with more options rolled out as the demand for the service grows.
“The investors will have 50% of revenues from margin loans. They will be distributed on a monthly basis as dividends. Once sold, EXMO Coin will be tradable at EXMO in EXO/BTC and EXO/ETH pairs,” the spokespersons for the exchange stated.
Notably, the crowdsale will be powered by the solution developed by Blockstarter. Thanks to the solution, one will be able to buy EXMO Coins directly with several popular cryptocurrencies: Bitcoin, Ethereum, Litecoin, Dash, and Zcash.
Ivan Petukhovski, the exchange’s co-founder, said the company chose Blockstarter as a technical partner in their crowdsale because they could offer a working technical solution right away. Moreover, EXMO Exchange and Blockstarter teams were able to find a common ground, which is vital for work on complex projects. However, he added, the availability of thoroughly tested architecture of fundraising and token issuance was the most important issue as it ensured transparency of the entire process.
“Access to the wallets where investors will send their assets will be controlled by EXMO. Blockstarter will know only the addresses associated with the investors. Thus, the project guarantees safety of fundraising,” the crowdsale’s organizers say.
EXMO Coin will be issued on February 26th, 2018. The sale will last until March 26th. The team plans to raise $300 million.