A New Cryptocurrency trading platform Launched by former Telegram director for Special projects
Mikado, a crypto subsidiary trading platform, will provide an answer for project planning an initial coin offering (ICO) but which need to avoid the price breakdown that happens when an open sale starts and initial investors drop their tokens. He stated that “many companies who are doing ICOs are trying to get investors’ attention with big bonuses and discounts without an understanding of how it will affect the price after the ICO.”
Unlike conventional financial markets where underwriters and market makers are helping organizations to structure their IPOs, ICO markets don’t have institutions and mechanism to arrangement a gradual arrival of liquid tokens; thus Mikado will do this job instead, Rosenberg said.
Mikado is going to issue a subordinate for any tokens that are locked up, such as reward tokens to the right on early investor or tokens that would be dispersed around the project’s employees to stimulate their work. The project can transfer these locked tokens to an uncommonly created escrow account, and investors will get subordinate Mikado tokens (MKT) instead which can be sold. Following the lock-up period is over, the MKT tokens will be blazed, and their holders will accept proportional amounts of the unique tokens they invested in.
“Locking up coins is an appropriate tool, but not very effective,” Rosenberg added. “They can plan many lock-up periods, evenly release their tokens and command the trading volume. Mikado is assuring a tool to create a “stable commodity-based economy” on the crypto market.
Mikado doesn’t plan to launch an initial coin offering for its token, so as on abstaining from having MKT ordered as security, said CEO Andrey Nayman. Currently, the project is applying for a distributed ledger technology (DLT) permit in Gibraltar. After the organization plans to register with U.S. Securities and Trademark Commission.