Shares 2448 Views

Blockchain Adtech Startup ‘Hybrid’ ICO Will See Tokens On Sale At Bittrex

Blockchain adtech startup CakeCodes will use a “revolutionary” distribution method in the ICO for its upcoming jobs marketplace StorMarket.

In a press release issued Wednesday, the company announced it would sell its STORM tokens on both an Ethereum smart contract and cryptocurrency exchange Bittrex.

“The STORM utility tokens will be sold through a revolutionary hybrid crowdsale mechanism, in which $40 mln will be available to participate through an Ethereum smart contract and $10 mln worth of tokens can be obtained through […] Bittrex,” it confirmed.

Frenetic Ethereum token market

The move will be a first in the frenetic Ethereum token market when the ICO goes live August 15.

StorMarket aims to create a crypto-based micro jobs platform where users are paid for performing microtasks.

“As the utility token for StorMarket, STORM will revolutionize the peer-to-peer job market by providing democratic access to resources and contracts via a user-friendly mobile application,” CakeCodes CEO Simon Yu explained.

The sale comes several months after the company’s other project, advertising revenue app BitMaker, came out of stealth mode and announced a crowdsale.

“StorMarket lets users rate and review each other based on ease of collaboration, quality of work produced, and the overall experience at the time of contract completion,” Yu added.

“This means companies can gain insight into the skill levels of potential contractors and the highest-performing individuals are duly rewarded.”

Bittrex’s infrastructure will likely be put to the test if the ICO proves as popular as some recent sales, meanwhile, when the sheer volume of purchase orders produced huge backlogs on the Ethereum network.

You may be interested

Business News
shares12 views

Thai Stock Exchange Plans to Launch a Crypto Trading Platform

Brian Evans - Jan 18, 2019

The Stock Exchange of Thailand is looking to capitalize on investor interest in cryptos by offering a new digital assets exchange.

Bitcoin
shares8 views

Dow Pounds Higher, But ‘Apathetic’ Bitcoin Trades Sideways

Brian Evans - Jan 18, 2019

The US stock market continued to rise ahead of Friday’s opening bell, with the Dow flashing triple-digit gains and its sister indices making similarly-bullish strides. Bitcoin, though,…

asic
shares6 views

Chip Making Giant TSMC Reports Significant Drop in Crypto Mining Revenue

Brian Evans - Jan 18, 2019

Bitmain’s ASIC manufacturer TSMC reports a sizeable drop in its crypto mining-related revenue in 2018

Most from this category

%d bloggers like this: