The Decoin ICO is a platform which effectively acts as an exchange whereby revenues are distributed among the various holders of coins. Through their token sale, they have now managed to reach the soft cap target. It is always a significant milestone when a soft cap is reached in a token sale as it gives the project a sense of credibility and allows them to continue with their operations unhindered and they will have the finances to do so.
This is what the beauty of the ICO fundraising mechanism is; startups can get their projects off the ground without having to deal with traditional venture capital firms.
What does the future hold for this type of project?
While a lot of people had expected that there might be somewhat of a drop-off in the interest from investors when it comes to ICOs in 2018, this has certainly not been the case. While the crypto market as a whole has struggled significantly since the turn of the year, the ICO sector is ever growing, with the 2017 total funds raised through ICOs being smashed past by the 2018 offerings in only a few months.
More and more institutional investors are getting involved in this space because these see massive potential in these projects which can offer real potential to the marketplace. The soft cap that Decoin had in place was $4 million, so this was certainly a significant milestone that they reached.
This is an exchange base on the blockchain which has a very practical utility when it comes to its offered uses. The blockchain utilises the proof of stake algorithm and the team ensures that they get more loyalty among their users by offering 6.2% staking rewards to them. They are aiming at the global market and will have international offices and offer support in multiple languages going forward.
Now that the soft cap has been reached, the team can accelerate their development plans or the Decoin Trading and Exchange Platform (DTEP) and now move onto their next step This new platform is aiming to be launched in about six months by which time they hope to have already obtained a license from the folks at the Monetary Authority of Singapore and they will then be a fully regulated group.