· PARSIQ is the first token sale to take advantage of the CoinMetro Direct Primary Issuance Platform (Direct)
· Under Direct, funds raised are held by CoinMetro and only released on projects reaching predefined milestones and timescales, with refunds available if it doesn’t meet them
· PARSIQ is a next generation blockchain monitoring and compliance solution
Tallinn, Estonia, 23rd September 2019: Today, crypto platform CoinMetro announced that EU-based PARSIQ will be the first project to take advantage of CoinMetro Direct, its Direct Primary Issuance Platform. The Direct platform represents a new method of conducting Initial Exchange Offerings (IEO) that protects participants and holds projects to pre-agreed milestones and timelines. Tokens issued will become tradable on the CoinMetro exchange immediately upon the conclusion of the issuance.
Traditionally, token sales via Initial Coin Offerings (ICO) have been high-risk and highly speculative, with little recourse for participants if projects don’t move forward with development. CoinMetro estimates that up to 90% of ICOs that raised money in 2017-2018 either didn’t deliver to their milestones or have already wrapped up operations.
With this in mind, CoinMetro has created an Initial Exchange Offering platform with added protection for contributors. Funds raised are not passed on to the projects in full at the outset, but rather are held in escrow by a third-party custody service (CoinMetro). Funds are only released incrementally when projects reach predetermined milestones according to predetermined timescales. In the event that a project fails to reach these goals, investors are entitled to vote on a refund of the funds not yet released to the project. Projects are limited to an initial payout of 50% of the funds raised.
The first project to raise funds through Direct is PARSIQ, a next generation blockchain monitoring and compliance solution. PARSIQ enables new levels of insight into various blockchains, and even across them, by using Smart Triggers – PARSIQ’s innovative monitoring technology, powered by the specialized ParsiQL programming language.
PARSIQ already has a working beta monitoring platform on the Ethereum mainnet, with Bitcoin and cross-chain analysis due to be added later in October.
As well as hosting the PARSIQ token sale, CoinMetro is one of PARSIQ’s first customers and is already using the platform to carry out compliance checks and monitor exchange deposits in real-time in order to ensure they come from genuine sources.
Kevin Murcko, CEO of CoinMetro, said: “For too long, investors have been stung by blockchain projects not delivering on their promises. This has undermined those legitimate and exciting projects, which have a credible plan in place and are committed to building the project.
“We’re excited to have PARSIQ join CoinMetro’s Direct platform. Not only do we think it’s a great project, but we’re already using its platform for compliance at CoinMetro and we’re looking to roll it out in other areas.”
Andre Kalinowski, Co-founder at PARSIQ, commented: “CoinMetro is a great match for us – its Direct platform focuses on providing transparency to IEO participants. We’re looking forward to using this platform and raising the funds we need to continue developing our blockchain monitoring solution.
“We believe that, for blockchain to achieve mainstream adoption, transparency is crucial. Being able to monitor and analyse the blockchain, and verify transactions in real-time, will help to build trust for users and improve the understanding of how blockchain works. PARSIQ will not only enable this type of monitoring, but continue to innovate and provide improved capabilities in future so that the blockchain is accessible for all.”
CoinMetro is a platform bringing cryptocurrency into the mainstream. Offering a complete and supportive financial ecosystem, CoinMetro provides an avenue for investors and traders to take part in the crypto markets, either actively or passively. Through a unique set of platforms, CoinMetro supports familiar investment options such as professional asset management and ETFs, and also allows users to invest in up-and-coming Primary Issuances via it’s Direct platform. CoinMetro has been created by the team behind the regulated Forex broker, FXPIG.
To learn more about CoinMetro, visit https://www.coinmetro.com/.
PARSIQ is a next-generation blockchain monitoring and intelligence platform. PARSIQ’s solution listens to all blockchain activity and builds a fully indexed representation of what happens in a particular blockchain and when. It goes beyond the current solutions, with new innovations such as mempool monitoring and ParsiQL, a language to allow complex logic conditions to be created that reacts in real-time to the events or specific transactions on blockchain.
The technology protects against unauthorized blockchain events, its market intelligence capability gives new insights into blockchain trading activities and with forensics it can deep dive into past criminal activity that has taken place on the blockchain.
Find out more at https://www.parsiq.io/