Bitfinex to launch token sales service

Posted 26 October, 2018

Bitfinex has announced a token sale service for its trading platform project. 

The company wrote in its Twitter that the new service for toke sales will be applied to its Ethfinex project designed for the sales of Ethereum-token.

"We are incredibly excited to present Ethfinex Token Sales - our new platform for seamless and secure contributions to Ethereum token sales,"

Notably, this service is said to be an exclusive one and the users will be selected on a draw method. Bitfinex stated that the new instruments for the draw to make the process more transparent and random in the short run.

The press release reads: 

"Winning users will be eligible to contribute ETH to the token sale but are under no obligation to do so...Should a user be selected as a winner and opt not to contribute their ETH within 24 hours, a new user will be randomly selected to take their place."

This procedure is said to repeat three times over three 24-hour periods or "until there are a sufficient number of users selected..."

The token sale draw requires verification via BlockPass.

In addition, Ethfinex launches a "superuser" status. This status will have 5 levels depending on the number of held tokens. With this status, clients will enjoy bigger chance to take part in a token sale and get certain benefits, in particular, fee discounts and priority access to new features.

Previous story

26 October, 2018 18:16

← Cryptos somewhat dip on Friday

Cryptos have changed moderately at the end of the week. Bitcoin changed hands on the Bitfinexat $6,523. Ethereum quotes on this platform dropped to $203.80. As for XRP and Litecoin were priced at 0.46386 and 51.710 respectively. It was reported today that India's Supreme Court required that the government submitted its position towards digital coins within two weeks. For reference, local banks are banned from providing any services connected with cryptocurrencies by the country's Reserve Bank.

Cryptos somewhat dip on Friday

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26 October, 2018 15:35

Cryptos may get legal property protection, Shenzhen Court notes →

The Shenzhen Court of International Arbitration decided that bitcoin might be protected as a property with economic values. The court released the case review regarding involving a contract for possession and transfer of digital coins. The plaintiff stated that with the signed contract the defendant had the right to trade and manage cryptos on the plaintiff's behalf, though failed to fulfil the obligations. Specifically, the defendant did not return the assets (around 20 bitcoin, 50 bitcoin cash, and 13 bitcoin diamond for $493,158 in total) when the contract expired. The Court noted that following the PBOC decision crypto trading activities and ICOs are out of law in China, so the above-mentioned contract, as well as crypto transactions under it, should be considered illegal. At the same time, the defendant mentioned that facing the ban there was no chance to convert cryptos and transfer funds to the plaintiff.

Cryptos may get legal property protection, Shenzhen Court notes
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