The initial coin offering token sale (ICO) for the Stox blockchain prediction platform has reportedly closed after one day. It raised its $30 million
The initial coin offering token sale (ICO) for the Stox blockchain prediction platform has reportedly closed after one day. It raised its $30 million target.
The Stox token sale has officially ended after reaching a hard-cap of 148,000 Ethereum, or about $33 million at the current ETH/USD exchange rate, as Finance Magnates (financemagnates.com) wrote.
Stox is reportedly being developed by the invest.com group and will use its smart token STX that is supported by the Bancor protocol to guarantee liquidity on Ethereum, as the online media wrote.
Stox aims to offer a peer-to-peer trading experience to its users. The platform is said to be based on blockchain technology, crowdsourced information, and runs using an algorithm that assesses what the crowd thinks about a specific event.
“Stox is an open source, Ethereum based platform for prediction markets where people can trade the outcome of events in almost any imaginable category – sports, celebrity marriages, election results and even the weather. The platform targets mainstream audiences and provides a haven for investors to find refuge from traditional financial instruments and participate in prediction events with the purpose of making profit, leveraging their knowledge in almost any imaginable field.”, as Stox`s white paper stated.
“The power behind Stox is the STX digital token. All activity in the network revolves around STX,from serving as the primary form for fees and collaterals, to serving as the main currency used for predicting event outcomes. STX is the driver of a sustainable economy where demand grows as more users and providers join the ecosystem.”, as the document added.
After the ICO, Stox is following its roadmap and implementing the Stox`s decentralized platform, as cryptocoinnews.com wrote in a publication. Thus, users can make their predictions on different events.
Time will show how Stox and invest.com, its debut provider and operator, will change the current ecosystem focusing on event predictions in categories like finance, sports and politics.