If you are following our altcoin news, you probably know that new cryptocurrencies are not raising money like they once did – even if we take marathon sales into account. The updates show that in the first half of 2018, the average initial coin offering (ICO) raised $25.5 million (PwC data) while the top performer was the first EOS ICO which raised a whopping $4.1 billion. Well, six months in, the second EOS ICO is on the way and has so far raised $2.8 billion worth of DAPP.
Yes – we are talking about the second ICO which aims to make EOS more usable and opts for a yearlong approach. Even though this ICO has not drawn as much investor interest as the first month, the solution named LiquidApps sold an impressive worth of DAPP.
This is why LiquidApps is building a second EOS ICO and a solution for the cryptocurrency and network running on the company’s DAPP token, which has been sold in daily auctions since February this year. At the end of the 233rd auction cycle on August 2019, the DAPP sale had raised $2.8 million worth of cryptocurrency.
“They’ve done an interesting job and [have been] innovative in learning from the best cryptocurrency news sites.sale and mechanics in crafting how a fundraise for a project should be done. Where they’ve struggled is, not just different market conditions, but finding the right investors and participants for their sale that fully understand the value proposition for the project,” a source with knowledge of the LiquidApps fundraise told many
LiquidApps has declined to provide any comments on the results of its token sale so far, even though there is ongoing pressure for comment.
For those of you who don’t know, the LiquidApps is a solution that is meant to take the pressure off the EOS blockchain and its RAM system, which has gotten bogged down as the computing resources have proven to be the scarce asset on the fourth largest blockchain by market cap.
Still, this effort seems to be garnering comparably little fanfare. Six months into the EOS sale, the startup behind the second EOS ICO named Block.One had raised $700 million, as a 2017 report by the Wall Street Journal shows.
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“A number of US investors participated in Block.one’s ICO. Companies that offer or sell securities to US investors must comply with the securities laws, irrespective of the industry they operate in or the labels they place on the investment products they offer.”The company posted a response stating that the ERC-20 tokens were sold but are no longer traded or in circulation. The platform shifted off the Ethereum blockchain last year and on to its own EOSIO mainnet. The company added that the SEC granted an important waiver so that it won't become subject to restrictions that would apply usually with settlements of this type. It also added that this only shows that the regulator has been satisfied by Block.one’s ongoing compliance:
“We are excited to resolve these discussions with the SEC and are committed to ongoing collaboration with regulators and policymakers as the world continues to develop more clarity around compliance frameworks for digital assets.”As per the blockchain news today, the settlement news is bullish for the platform and EOS price increases today and the token is one of the top performers at the time of writing with a 10% pump on the day from $2.75 to $3.10. The daily volume surged from the $1 billion to $2 billion as EOS recently hard forked and hit a weekly high.
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“The SEC has simultaneously granted Block.one an important waiver so that Block.one will not be subject to certain ongoing restrictions that would usually apply with settlements of this type. Block.one believes the SEC’s granting of this waiver evidences Block.one’s continuing commitment to compliance and best practices in the United States and globally.”In a statement, the SEC Division of Enforcement co-director Steven Peikin noted that the company ‘’ didn’t provide’’ the investors with any kind of information typically included in the securities sales and the SEC’s order confirmed this complaint. The Block.one company announced the creation of the decentralized social network named Voice and with the launch of it which also runs on the EOS network, there have also been sparse. The EOS blockchain has faced governance challenges in recent months.Over the past few weeks are reported in the blockchain news, the commonwealth of Virginia gave Block.one a $600.000 grant to help build its own US headquarters in Arlington which is a suburb in Washington D.C. the company has operations in Blacksburg VA as well as another seat in Hong Kong.
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