At the World Blockchain Summit, held in Dubai 24-25th of October, Telegraf.Money messenger and DEBIT Coin (DBC) crypto-currency, CEO and Co-founder of this project, Kent Kristensen, made a speech announding the Telegraf ICO is the first ICO in the world held in a form of an interactive auction.
At the moment almost 800 participants have already participated in this ICO, they submitted their orders for more than 2.4 million USD. The sales statistics are tracked in real time on the DebitCoin.io website.
The goal of the Auction is to get the best prices and conditions for every player involved.
The major difference between this method of distribution of tokens from others is that the prices for tokens are set by the participants themselves in the bidding process, by issuing limited bids for the purchase.
After accepting bids, the minimum cut-off price is determined, according to which all successful bids receive tokens at the lowest prices. Bidders can also apply for a purchase at the weighted average price of the auction.
Pre-payment of orders during the auction is not required, it is enough to have the necessary funds in your wallet BTC / ETH. After accepting applications, participants are given 24 hours to pay for tokens, in addition, there is an opportunity to refuse paying during this period, having weighed all the pros and cons.
Under the terms of the Auction, if a participant has applied at a price higher than the minimum set, he will receive proportionally more DebitCoins (DBC) than in the bid, since the calculation is based on the minimum cut-off price.
All the participants that bought tokens within the first 30 days from the start of ICO have the opportunity to convert their tokens purchased at the Auction after 90 days with a coefficient of 1.1 in dollar equivalent, by withdrawing funds to one of the attached VISA / Mastercard cards.
- Token Taxonomy Workshop – - January 24, 2020
- Deloitte Bullish on Libra Project in New Report - January 22, 2020
- Busted: SEC Charges Blockchain Marketplace Founder Sergii “Sergey” Grybniak for Fraudulent ICO 2017 - January 22, 2020
- DC Blockchain Advocacy Group US Chamber of Digital Commerce Supports Telegram Vs. SEC Case - January 22, 2020
- BIS Forms New Central Bank Think Tank to Assess National Cryptocurrencies - January 22, 2020
- Bank of England Pondering National Cryptocurrency - January 22, 2020
- Infamous Online Gaming Community Clanbase to Relaunch With Blockchain Technology in 2021 - January 21, 2020
- Chainalysis: 2019 Saw More Cryptocurrency Hacks – Total Amount Stolen From Exchanges Dropped To $283 Million - January 21, 2020
- J. Christopher Giancarlo, former Chairman of the US Commodity Futures Trading Commission - January 21, 2020
- Ethereum Classic Labs Donates $1 Million to UNICEF Innovation Ventures - January 20, 2020
- Busted: SEC and U.S. Attorney’s Office for the District of New Jersey Files Lawsuits Against Fraudulent ICO that raised $30 million - January 17, 2020
- Kenya Issues Second ICO Warning After Investors Lose €24+ Million Euro - January 17, 2020
- Neufund Wraps Tokenised Equity Crowdfunding Series B with Greyp Bikes raising €1.4m EUR - January 17, 2020
- U.S. Lawmakers Pondering “Crypto-Currency Act of 2020” - January 17, 2020
- New Blockchain-based Visa Token Service Set To Launch in 2020 – Set to Reach $1 Trillion - January 17, 2020
- Germany’s New Shore Invest Launches STO Ship Financing Platform – Tokenised Fractional Ownership - January 16, 2020
- Open Source Luminary Marc Fleury Enters Crypto Arena with Announcement of New Crypto Asset Class and Continuous Token Offering Sale - January 16, 2020
- UN Warns Public Not To Attend North Korea Blockchain and Cryptocurrency Conference 2020 - January 16, 2020
- Fiat-to-Crypto Gateway Solution, Banxa, Raises $2 Million USD Series A Round Led By NGC Ventures - January 15, 2020
- United Africa Blockchain Association Plans to Fire Up Blockchain Adoption - January 14, 2020