[ICO Alert] WandX is building financial instruments on Ethereum based tokens
WandX, a platform on the ethereum blockchain that enables users to create and trade financial instruments on Ethereum based tokens, has closed out its pre-sale valued at 550ETH ($US 150,000 approx.). The WandX tokens, known as Wands, can be used on the platform to derive discounts on trades as well as access features like portfolio optimization algorithms.
The WandX platform
WandX’s decentralized platform on the Ethereum blockchain enables users to hedge risk and to trade a basket of Ethereum based tokens with a single transaction, increasing the liquidity of many altcoins and helping users diversify their investments. Users can invest in ETFs (Exchange Traded Funds), buy Ethereum token futures, and trade in less liquid assets by means of a portfolio.
“Through WandX, we plan to build a financial system of derivatives, ETFs and hedging instruments around Ethereum tokens” said Abhinav Ramesh, the company’s CEO. “It’s gratifying to see the confidence that potential users have already placed in WandX during our pre-sale.” Ramesh, a serial entrepreneur, has assembled a team of engineers and advisors with deep experience in blockchain and financial services to provide a solution to simplifying the crypto currency marketplace. The company is based in Bangalore, and is registered in Singapore.
Initially WandX users will be able to trade in a portfolio of ERC20 tokens on the Ethereum blockchain, Later this year, after the Token sale, the company will enable trading in ETFs and derivatives for Ethereum tokens through it’s smart contracts.
The official launch of the token sale is scheduled to begin on October 22. The token sale details are as follows –
Total supply for the Pre-sale: 12000ETH worth of Wand.
Total Wand supply Token sale + pre-sale: 48,000,000Wand
Token sale price: 1ETH = 3792Wand.
Token sale Start date: October 22nd 2pm GMT. End date: November 22nd 2pm GMT.
Accepted cryptocurrencies: ETH, Top 10 ERC20 tokens as per https://etherscan.io/tokens as shown 48 hours before the token sale
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