Waves has announced that the Simdaq initial coin offering (ICO) has hit its hard cap in just 28 hours. The partnership with the Waves Lab incubator helped Simdaq raise $5 million in a bit over a day.
Simdaq wants to democratize crypto trading by sharing insights and information, as well as allowing community members to back-test strategies using historical data. The platform also expects to allow users to create trading bots using their algorithms.
Waves Lab COO, Vitaliy Tsigulev, said it was great to see Simdaq get their project off the ground;
“Successful and compliant ICOs for strong businesses will be critically important as we move ahead this year, into a landscape shaped by the new regulation that is coming. That’s why Waves Lab was launched, and it’s very encouraging to see the first candidate hitting their hard cap so fast.”
In Q1 Waves Lab said it will be accepting its next tranche of participants. The latest applications are currently being reviewed and Waves says “there are hundreds to assess.”
Additionally, Waves is planning a new acceleration program that will include the release of professionally-prepared information and explanatory materials, as well as various activities for consulting, auditing and assisting the most promising ICO projects.
The Waves Lab seeks to equip projecs with financial, legal and technical advice, as well as marketing assistance to make sure they do well. Waves wants to take pre-ICO businesses and ensure their success as they seek to raise money and launch. Simdaq is one of several participants in the first tranche of Waves Lab entrants.
Waves reports that start-ups have already raised over $100 million worth of funds through their platform and there are 150,000 active people in the Waves community. Waves’ market capitalisation has increased to over $800 million, with over 50 employees in Moscow and Amsterdam. In 2018 offices are planned to open in Berlin, 
London, New York and Singapore.
Simdaq CEO, Evgeniy Dubovoy, said they were grateful to Waves and the incubator;
“The new era of ICOs starts now with accelerators like the Waves Lab, who help really good projects get noticed,” said Dubovoy.
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