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Coinbase listed ASM and INX raised $125M – DeFi market wrap

Coinbase Custody added ASSEMBLE Protocol’s utility token ASM on its platform. ASM will receive a cold-storage custody solution from Coinbase Custody, which is one of the largest custodians in the crypto sphere.

The ASSEMBLE Protocol’s team considered Coinbase Custody for storage due to the transparency, reliability, and security of the platform. Coinbase Custody has not experienced any security incidents since its launch eight years ago. It also hasn’t lost any of the crypto assets to its platform. Coinbase adheres to the strictest security protocol.

The leading blockchain-based global point integration platform ASSEMBLE stated that it hopes the addition of ASM to Coinbase Custody to bring a new level of security, along with trust in the ASSEMBLE Protocol.

Coinbase Custody will also enable the deposits and withdrawals for the ASM token as part of this custody support process. ASM token holders will be able to access a new option for the custody of their holdings. Users can safely deposit or withdraw funds without leaving the Coinbase platform.

How will ASM token holders benefit?

Coinbase Custody tweeted that it has already approved the ASM token officially. Coinbase will add the token to its cold storage custody after a technical and compliance review of the token. ASSEMBLE Protocol also noted that this is a significant milestone for it, considering that users on Coinbase Custody will be able to access the token. The Custodial platform is one of the largest and most trusted crypto custody solutions for both institutional and individual investors. So far, Coinbase Custody provides custodian services to ninety digital currencies.

ASSEMBLE has secured partnerships with top e-commerce platforms ClubPass and STA1.COM in recent months. These two platforms combined have more than 800,000 users. Leading Korean exchange Bithumb also listed ASM on its platform.

Thus far, ASSEMBLE protocol is making significant progress in its quest to offer customers unrestricted opportunity to use their points similarly as they use cash without location or time constraints.

Assemble developed its unique ecosystem with a data infrastructure to update consumer data within the database consistently. As a result, advertisers can use the data to run their advertisement campaigns easily and effectively.

Meanwhile, Fanadise launched its native token FAN

Coinbase listed ASM and INX raised $125M – DeFi market wrap Fanadise launched its native token FAN recently. This exclusive content platform is selling 200,000,000 FAN (20%) during the ICO for 0.08 USD per token. However, the total supply is 1,000,000,000 FANs. The initial coin offering will end on May 31, 2021.

The team created Fanadise for internet influencers. Thanks to this new ecosystem, they can monetize their social presence while also bringing their interactions with followers to a whole new level.

Most of the news outlets created during the past few years hid behind paywalls and began to get their fair share for the work they put into preparing the news. Meanwhile, internet creators were highly underpaid. Fanadise team wants to change that.

Big corporations like Google or Facebook usually take all the profit from the generated revenue of influencers via their ad services, while creators get no or close to zero gain. However, Fanadise team plans to provide them will access to substantial content bonuses.

What is Fanadise offering to change the situation? 

The platform offers creators to connect with their fans in a new way. Users can release premium pictures and videos and show fans their backstage life, letting them in to see their close friends’ interactions. Furthermore, fans can listen to creators’ songs first, see their videos and pictures before the others, interact with users via comments, chat with them, as well as get huge bonuses from subscription tiers or get other giveaways directly from the first drop.

Besides, Fanadise plans to use NFT’s to decentralize content ownership. As a result, creators will get a cut of what fans pay for. They will also be entitled to get payment for their work.

However, the FAN token plays a major role in the development of the Fanadise ecosystem. Creators will need them to get various advantages. Users interested in the tokens must buy one of the major cryptocurrencies first, usually either Bitcoin (BTC), Tether (USDT), Ethereum (ETH), or Binance (BNB). They can trade those cryptos for FAN tokens.

INX managed to raise $125M in Registered Security Token’s first IPO

Blockchain trading platform INX completed the first IPO of its SEC-approved token. The platform overall raised $125M during the trade. INX Limited has announced an initial public offering to conduct the first-ever Securities and Exchange Commission-approved token sale event.

The company issued a release recently stating that it raised $85 million in gross proceeds from over 7,200 investors, including retail and qualified institutional actors. The average of traders who participated in the token IPO was 42. The company wanted to finish its token IPO before the end of April. The SEC-registered INX had previously outlined the end of 2020 as its initial date to complete the token IPO.

The platform has already gained $7.5 million from a previous private sale, adding another 39.6 million Canadian dollars (approximately $32.2 million) in private placement equity on the Toronto Stock Exchange. Overall, the Gibraltar-based company has raised $125 million, according to the latest reports.

However, the TSX must confirm this final sum. The initial target set during the token’s August 2020 IPO launch was much lower than the achieved result.

How did the company gain such amount? 

The company reported that crypto payments from Bitcoin (BTC), USD Coin (USDC), and Ether (ETH) accounted for more than half of the amount raised. It also added that it converted the investment sums received via cryptocurrency payments to U.S. dollars.

INX will use the $125 million raised from the token IPO to fund the creation of the company’s fully regulated trading platform for both crypto and security tokens. Furthermore, the company planned a blockchain-based service, which will enable client firms to issue and sell tokenized securities.

INX co-founder Shy Datika noted that INX’s token IPO would pave the way for other firms to issue SEC-approved security tokens.

The INX co-founder also confirmed that the company already had approximately 30 companies looking to launch security tokens on its platform. Datika stated that blockchain adoption is catching on across both institutional and retail investors.

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