Following the successful pre-sale which raised over $21 million USD, The Gibraltar Blockchain Exchange (GBX) has announced the launch of its upcoming public Token Sale Event which will commence on 7 February 2018 and conclude on 14 February 2018. The Rock Token (RKT) is a utility token which aims to be utilised within the GBX ecosystem. There will be approximately 60 million RKT issued during the event, equivalent to a total of $6 million USD.
The Gibraltar Blockchain Exchange (GBX)
The GBX aims to be a world-leading institutional-grade token sale platform and cryptocurrency exchange. As a subsidiary of the EU regulated Gibraltar Stock Exchange (GSX), this initiative is expected to offer a higher standard of token sale. It will support utility tokens that have gone through rigorous due diligence and admissions processes. This system, coupled with a high-quality digital asset exchange, could be an unprecedented step forward for this emerging market, encouraging new higher standards across the industry.
Nick Cowan, CEO of the Gibraltar Blockchain Exchange, commented:
“The introduction of rules-based systems is necessary if the blockchain sector is to reach maturity and if actors are to be assured of market stability. Based upon principles of decentralisation and community consensus, the GBX seeks to create a new era of trust, openness and global acceptance for the crypto industry, one quality token listing at a time.”
The timing is perfect for the GBX. It hopes to benefit from Gibraltar’s Distributed Ledger Technology Regulatory Framework which came into effect on 1 January 2018. The scope of these regulations will encompass companies using blockchain technology, including the GBX. Firms in or from Gibraltar that use distributed ledger technology (DLT) to store or transmit value belonging to others, and whose activities are not regulated under another financial services framework, will be covered.
The GBX Ecosystem
The GBX conducted a highly successful pre-sale period of RKT that concluded in December 2017. It was oversubscribed, with over 210 million RKT already sold amounting to $21 million USD. The use of proceeds from the RKT public sale will primarily be used to continue the development of the GBX trading platform, and the further expansion of the GBX fintech ecosystem and financing pathways. The ultimate goal is to develop the capacity to be able to support projects at any stage of their development covering all of their business service needs.
Nick Cowan added:
“We’re very excited to share the Rock Token with the world. Everyone at the GBX is fully committed to blockchain technology and its potential to change the way that people build their own projects. We invite you to join us on our journey and to join the community we’re building.”
Rock Token (RKT) Structure and Utility
RKT are ERC-20 compliant utility tokens issued on the Ethereum blockchain. They will function primarily as a medium of exchange for trades on the GBX platform as well as offering a range of functionalities within the GBX ecosystem. RKT will be also be used as a preferred medium of exchange, to get early access to new token sales; to pay trading fees; for listing and payment of sponsor fees; for issuer and sponsor staking; as grants and prizes at the Blockchain Innovation Centre (BIC); and as payment for business services such as corporate and fund services, as well as e-money services. Nick Cowan concluded:
“The sale of RKT and a widespread user-base will help the GBX achieve its intention of becoming a world-leading, institutional-grade token sale platform and cryptocurrency exchange. To see such overwhelming support for our project already in our successful presale period is both inspiring and humbling. The GBX is working to lay the foundation for the global expansion of a regulated cryptocurrency market with all proceeds raised in our token sale event helping further this vision and make it a reality.”
For more information regarding the Gibraltar Blockchain Exchange, find us on our social channels below:
Website: https://gbx.gi
Medium blog: https://medium.com/@Gibraltar.Blockchain.Exchange
LinkedIn: https://www.linkedin.com/company/18286558/
Facebook: https://www.facebook.com/GibBlockEx/
Twitter: https://twitter.com/GibBlockEx
Telegram: https://t.me/GBXCommunity
Reddit: https://www.reddit.com/r/GBXCommunity/
BitcoinTalk: https://bitcointalk.org/index.php?topic=2684176.msg27421066#msg27421066
YouTube: https://www.youtube.com/channel/UC8AFevz1jYcHMXN-GLnae2g
