ZigZag and EXMO conduct an Initial Exchange Offering (IEO)
EXMO exchange and DeFi system ZigZag announce Zag token’s IEO. Token sale will be held on the 26th of September 2019.
ZigZag‘s IEO details
Website: zigzag.finance
Development stage: finished product
Ticker: Zag
IEO cap: 50 BTC
IEO begins: 26.09.2019 at 8:00 p.m. (UTC+3)
IEO finishes: 27.09.2019 at 9:00 p.m. (UTC+3)
Token’s price: 26.09.2019–5 USD for 1 Zag (price in BTC will be announced on the 26.09.2019 at 19:00)
Total amount of tokens to be sold during IEO: 100 000 Zag
Current emission: 1 000 000 Zag
Total amount of tokens in circulation: 0 Zag
Stages of Zag’s issuing/unlocking
- 6000 Zag will be sold on the 23.09.2019 at 5 USD per token and will be distributed monthly (within the 5 months) for 1200 Zag (20% among buyers)
- 100 000 Zag will be sold on 26.09.2019 during IEO and will be distributed within the 5 months for 20 000 Zag (20% of the purchase price) proportionally among buyers
- 5000 tokens will be reserved for payments to network’s validators.
- 889 000 will be frozen until 1.05.2020 and will be unlocked monthly for 10 000 after this date in order to insure payments to validators and to replenish the stabilization fund
How can you purchase Zag tokens?
1. Register at EXMO exchange: https://exmo.me/en/register
2. Buy the necessary amount of BTC
3. On the 26th of September go to Zag/BTC trading pair and purchase the necessary amount of tokens
What is an Initial Exchange Offering (IEO)?
Initial Exchange Offering is a token sale held on the exchange. The main difference between IEO and traditional ICO is the fact that exchange acts as a mediator. Exchange’s team conducts a preliminary audit as well as the project’s technical verification. It evaluates the attractiveness of this investment and its potential to yield profits and then announces the beginning of the token sale.
About ZigZag
Official Website: zigzag.finance
ZigZag — is decentralized financial service, created to simplify cross-border payments which uses excessive security to reduce the risk of default and built-in financial services which reduce the cost of transfers.
Every year millions of people travel to work in other countries. They are sending billions back home losing from 4% to 15% when making transfers. ZigZag was created to simplify the mechanism of these transfers and to reduce their cost. We would like for every person to be able to send the required sum from any shop, gas station and diner. This would be as simple as buying the required Zig tokens and send them using their native app or any cryptocurrency wallet. Zig’s token recipient would then be able to easily withdraw it to a bank card or receive cash from partner points (shops, gas stations, etc.). Our job is to make these transfers as transparent as possible. It is not necessary for the sender and the recipient to know that EOSIO blockchain is used in this transfer and cross-border payment was carried out in Zig. Sender brought Polish zloty and the receiver got Ukrainian hryvna or Russian ruble — this is how this system is supposed to work. At the same time, we are trying to reduce the fees by using an existing infrastructure without any additional costs. Any activity is legal supported by financial companies and partner banks.
This system’s stability is provided by the voting token Zag. Zag’s holders are receiving rewards for ensuring the system’s stability. Top 21 holders are gaining the highest rewards. A total of 1 000 000 Zag tokens will be issued. By using the balancing algorithm largest Zag holders will provide stability of Zig’s value. This balancing will be carried out by the smart contract and its fairness is guaranteed by the Zag tokens’ balance. Second smart contract’s activity is encouraged by the additional Zag tokens.
Disclaimer
EXMO reminds that cryptocurrency investments are very risky. EXMO’s team makes every effort to ensure that only the most reliable cryptocurrencies are traded, however, the company is not responsible for your losses in trading operations. Please remember that every user is personally responsible for investing in the project of their choosing.
