Pioneering Indian tech firm WandX, led by CEO Abhinav Ramesh, will launch a token sale on Friday 27 October to fund the building of its groundbreaking platform, which will allow investors to create and trade in derivative products based on crypto-assets.
Expectation around the token sale is high and a pre-sale raised 530 Ether (approximately $150,000) in only 36 hours.
Abhinav Ramesh, 26, who has a background in supply-chain and analytics at Ernst & Young:
“Until now, cryptocurrency investors have used decentralised exchanges to buy and sell different cryptocurrencies, in the hope of growing their assets. The difficulty that investors encounter is that, with no centralised bodies regulating the supply of cryptocurrencies, their values can be volatile.
“Investors can only exchange an amount of one currency with an equivalent value of another, which is problematic because it makes it more difficult for them to diversify their portfolio and avoid unnecessary risk.
“That’s where WandX comes in. WandX goes a step further than the decentralised exchanges that enable trade between different tokens, and enables users to create – and trade in – portfolios and exchange-traded funds (ETFs) of tokens in the rapidly-growing ERC20 class.
“These instruments can facilitate the hedging of risk and enable users to own multiple tokens with a single transaction. The plan is that this will not only make investing in cryptocurrencies easier for those who are already involved, but will attract new investors to the market.”
As it is built on the Ethereum blockchain, WandX can use smart contracts to ‘bundle’ together assets.
Unusually for a product holding a token sale, Abhinav’s team – based in Bangalore, India – have already created a prototype platform.
The platform will also contain measuring and analytical functions, so that users can compare the performance of products and strategise accordingly. It will offer a range of derivatives such as futures, options, securitisation of income streams and debt instruments.
The token sale will see the introduction of the WAND token, 55,000 of which will be issued. The WandX team will end the sale when they raise their maximum of 12,500 Ether – approximately $3,720,000 or the 40-day time limit expires.
The WandX team is supported by a broad range of influential advisers and partners, such as financial services expert Raghuttama Rao, blockchain pioneer Bryan Feinberg, management advisor Ramesh Srinivas, data scientist and ICO adviser Nagu Thogiti and fintech entrepreneur Yogesh Gaikwad.
- Telegraf Money ICO – The First Interactive Auction ICO – October 28, 2017
- Cashaa Partners with Airbitz for Secure and Speedy Global Payments – October 28, 2017
- Russian Vnesheconombank And Uetp Trading Platform Signed An Agreement On Development Of Europe’s First Blockchain Based Project In E-procurement – October 28, 2017
- Storj Labs Announces STORJ Tokens Now Listed on Poloniex Exchange for Trading – October 28, 2017
- Healthbase – The Launch Of A New Blockchain Project Promising To Advance Health Research – October 28, 2017
- Seeds Token Sale Lets You Ask the Blockchain for Help – October 28, 2017
- Templum Raises $2.7 Million to Launch Platform for Regulatory Compliant ICOs as Securities – October 28, 2017
- Crypto Derivatives Exchange WandX to Launch Token Sale – October 28, 2017
- LiveTree Announces Token Sale for Community-Powered Film, TV and Content Network based on Blockchain Technology – October 28, 2017
- MailTime Hits 5M Downloads, Launches MDT Token to Reward Users for Sharing Data – October 28, 2017
- Enigma and KyberNetwork Partner To Expand Blockchain & Crypto-Asset Adoption – October 28, 2017
- PUBLIQ Reveals How Blockchain and AI Can Fix the Issue of Fake News – October 28, 2017
- Bancor Welcomes Second Smart Token – STORM tokens join network for autonomously convertible cryptocurrencies – October 28, 2017
- Etherisc Launches Blockchain-powered Flight Delay Insurance For Devcon 3 In Mexico – October 28, 2017
- Decentralized Bank-as-a-Service Enterprise, BANKEX, Announces Balanc3 as Advisor – October 28, 2017
- Russian Bank to Offer Cryptocurrency Exchange to Fiat for Russians – October 28, 2017
- KyberNetwork and WAX Announce Partnership – October 28, 2017
- TaaS Fund Backs Up Neuromation, The Universal Marketplace Of Neural Network Development – October 27, 2017
- Singapore Retail Group iFashion Closes MegaX Token Presale – Raises over USD $2M – October 27, 2017
- Bloq Announces Metronome: World’s First Cross-Blockchain Cryptocurrency – October 24, 2017
- Charity Meet & Greet with Ronaldo Auctioned for Bitcoin – October 24, 2017
- Bitcoin Nonprofit BITGIVE Launches GiveTrack Beta at Money2020 – October 24, 2017
- Blockchain LegalTech startup Agrello partners with online-id verifier Veriff – October 24, 2017
- Under 1 in 10 Post-ICO Tokens are Actively Used – October 24, 2017
- Grid Foundation unveils an Enterprise ‘Cloud Operating System’ for All Blockchains – October 23, 2017
- Cashaa welcomes Central bankers, MIT scientists and Fortune Top 500 Leaders for its CAS token sale – October 23, 2017
- Sun Exchange Raises $1.6 Million Seed Investment to Catalyze Global Shift to Solar Power – October 22, 2017
- Brickblock And Nakamo.to Announce Partnership To Fuse Real-world Asset Trading With The Potential Of IOTA’s Tangle Network – October 22, 2017
- Wirex inks deal with SBI Holdings to establish Asia focussed joint venture – Japanese cryptocurrency payments card expected soon – October 22, 2017
- CrowdWiz successfully raises over $5 million in its pre sale to bring democracy to investing by cutting out the middleman – October 22, 2017
- Soma – launches ICO to tackle marketplace fraud and disrupt the $1.7 trillion global second-hand goods industry – October 22, 2017
- LiveEdu.tv Launches ICO and Announces Presale – October 22, 2017
- Yetta announces ICO of European Commission funded Blockchain Research and Development – October 22, 2017
- Pulsar Venture Capital Holds ICO to Raise Money Using Blockchain – October 19, 2017
- Dash Expands Reach In Asia Through Cooperation With Rising Fintech Company QUOINE – October 19, 2017
- Hacken and Neuromation Partnership Launched to Stomp out Blockchain Cybercrime – October 19, 2017
- Playkey Brings in $1 Million in Pre-Sale Campaign and Welcomes Dillon Seo as VR Advisor – October 19, 2017
- SolarChange Founders Introduce New Blockchain-Based Network for Global, Decentralized Energy Trading – October 19, 2017
- Kazakhstan’s Lendex.io plans ICO in early 2018 – October 19, 2017
- Swissborg – The Blockchain Era of Swiss Private Banking – Announced ICO – October 19, 2017
- Bank4YOU Group’s launches ICO end of October – Investors Call to Action – October 19, 2017
- Live Pre-sale of Trive: Fights Fake News Using Cryptocurrency and Crowdsourced Research – October 19, 2017
- A New Ozone Layer? Arcona Plans for Augmented Reality Layer to Cover Earth Surface in new AR project – October 19, 2017
- Cofound.it Introduces Seed Program for Early Blockchain Startups – October 19, 2017
- LOOMIA Announces Collaboration With Storj Labs, Introduces Smart Fabrics and Consumer Data to Blockchain Technology – October 19, 2017
- DECENT Launches Beta Release of DECENT GO, The First Decentralized Marketplace for Digital Content – October 19, 2017
- Orebits Corporation, Inc. Announces Orebits Pool, LLC and Orebits.AU Eco-System – October 19, 2017
- Pareto – the Peer to Peer Financial Content Marketplace Announces Token Sale – October 19, 2017
- Appsolutely Launches the LoyalPlatform, LoyalCoin and LoyalWallet; Using Blockchain to Usher in the New “Loyalty Economy” – October 19, 2017
- Eidoo Raises $27.9m In Successful ICO To Bridge The Cryptocurrency Gap And Open The World Of Digital Currencies To The Masses – October 19, 2017
View All Articles