ETHLend concludes crowd sale at $16.2 million, partners with HitBTC
If there ever was a community-driven success story in the ICO space in recent times, it would be ETHLend. The scrappy startup mentality of non-stop hustling and constantly getting people to believe in the vision of the company, has finally paid off for the team. They’re currently running a public vote to list $LEND on Binance.
Founder and CEO Stani Kulechov said in an official statement, “We have been blown away by the size of the communal response and interest. When we set out to launch ETHLend, we wanted to make sure any potential contributors knew exactly how we would use the funds to develop our blockchain-based lending platform. The response has shown that, even though they don’t know us, they really like what we are doing.”
Prior to the success of the crowdsale, they had an equally successful pre-sale, where they raised $600k in roughly 77 hours.
The company had teamed up with Eidoo for the token sale along with over 5000 plus applicants who registered for the whitelist and undertook the strict KYC policy set up by ETHLend. Stani said, “An access code was given to each individual 1 hour before the commencement of the token sale, and issued via secure login to ETHLends website. This code was then entered into the link within the Eidoo wallet ensuring a zero incident event took place with regards to phishing.”
The company raised the intended hard cap of 37600 ETH, which equalled the 1 billion LEND tokens generated before the ICO. “The total number of transactions totalled 6750 which means that the funds raised were spread over many hardcore ETHLend supporters. We are proud of creating a large community and the followers are keen on implementing a decentralized financial platform,” Stani added.
ETHLend exchange partnerships
As the company gears up to announce a distribution date for the tokens they have already teamed up with HitBTC as their first exchange for trading. Stani says, “the exchanges are still in discussion due to the quick closeout speed of the Token sale. These details were not finalized at time of closure.”
ETHLend shared that they will notify the list of exchanges as they unfold. During the crowdsale, ETHLend also announced a partnership with Brickblock, the asset tokenisation platform, that will enable tokenized assets to be used as collateral on the ETHLend platform.
With the conclusion of the token sale, the real work for ETHLend begins now. However, they definitely have the capital to go ahead and building a lending ecosystem. We at ItsBlockchain are very happy to have played a part in promoting this worthy ICO.
All the best ETHLend! We will be closely following your progress!
Visit ETHLend –https://goo.gl/ZYqskr
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.