Exscudo Raises Over $5M in ICO
Blockchain financial services provider Exscudo has raised 2314 BTC (5,347,423 USD) during its initial coin offering (ICO), which closed on May 31.
Around 3500 people have participated in the crowdsale. Most of the funds were raised during the first and last days of the ICO, with 1000 investors and over 400 BTC coming into the crowdsale in the last 24 hours.
50% of the remaining unsold EON coins will be distributed among the ICO participants, in shares equal to possession of the tokens at the time of the end of the ICO. The remaining 50% of unsold coins will form a non-profit Exscudo fund; its main task will be scientific development of the EON blockchain and Exscudo security systems.
The final unsold coins multiplicator is 7, which means the amount of purchased coins will be multiplied by this number. The multiplier also applies to bonus EONs earned for early investors, but not bounties, as these are awarded a separate allocation.
The company is now preparing for the launch of the EON network, which is expected to go live in a couple of weeks. ICO participants will receive the purchased EON coins right after the main network goes live. The launch of Channels, the mobile wallet and secure messenger, is planned for the same time.
“We have raised enough to fund the development of our products,” said Exscudo CEO Andrew Zimine. “The ICO is over now, and we have entered a new stage in Exscudo. Now we are going to prove that our products and services are worth the trust our ICO participants have invested in us.”
