LendingBlock, a cryptocurrency lending platform that we covered earlier this month, has revealed it will see its tokens (LND) trade on HitBTC this coming May. Lending Block’s crowdsale will kick off on with the pre-sale beginning on April 7th and the main sale starting a week later on April 15th.
According to the pitch page, the presale will include 450,000,000 LND at a price of $0.01666667. The main sale will include 100,000,000 LND at $0.02 each. Total cap of the initial coin offering will be $9.5 million. LendingBlock is accepting investors now.
According to the LendingBlock roadmap, the company is already going through the regulatory process with expectations of approval for July 2018. Production launch will take place in August.
As we wrote before, the interesting aspect of LendingBlock is the fact they clearly want to move into the derivatives space enabling traders to crate all sorts of financial cocktails. Most crypto-based lending platforms are enabling crypto for dollars etc. Either that, or simply using distributed ledger technology to power the platform. LendingBlock is more of a trading platform.
“… we can see the fundamental value of the technologies that underpin the crypto-economy being realised. And over the next 24 months we’ll see it delivering real value to the market. The compelling logic of blockchain-driven distributed ledgers will continue to attract businesses to their use, and as we see blockchain flourish and cryptocurrencies stabilise, we can be sure the crypto-economy will continue to mature. The bubble isn’t bursting, it’s growing up.”
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