Quantum Project, a blockchain project on a mission to introduce enterprise-grade liquidity in the cryptocurrency market has recently concluded a successful ICO campaign. The platform, powered by Ethereum blockchain based Quantum tokens (QAU) has raised over $4.12 from 500 investors during the crowdsale that came to an end on May 15, 2017.
The fund reserves generated by QAU crypto-token crowdsale will be responsible for contributing the much-needed liquidity to cryptocurrency exchanges, and other blockchain backed financial platforms. Meanwhile, these tokens will be freely available for the cryptocurrency community members to buy and sell on open cryptocurrency trading platforms.
According to the platform’s roadmap, as many QAU tokens will be eventually bought back by Quantum using revenues generated by the liquidity pool. The buyback price of the tokens will be based on their current market price during that time. The platform intends to ensure higher valuation of its tokens in circulation by destroying all the bought back QAU tokens. The resulting reduction in supply could eventually drive the price of remaining tokens higher, benefit the community members while reducing the platform’s any outstanding liabilities to them.
Participants in the month-long Quantum ICO will receive their QAU tokens on June 14, 2017; 30 days after the closure of the crowdsale. The ICO, which was kicked off on April 15, 2017, sold a total of 8.24 million tokens at a presale price of $0.05
Quantum’s whitepaper states,
“The aim of the Quantum project is to bring institutional grade liquidity to digital assets markets. This will be achieved by creating a liquidity pool of funds and allowing crypto community to participate in increasing the depth of various order books. The liquidity pool will be funded by issuing Quantum tokens that will be sold and traded on various crypto markets.”
Meanwhile, the platform is currently in the process of including the tokens into multiple exchange platforms and marketplaces to ensure its availability for trading once released.
The QAU token buyback will be a monthly process until all of them are bought back and destroyed forever, while the investors make handsome profits in the process.
Disclaimer: Live Bitcoin News does not endorse this publication, not any of its members are associated with it. Readers are recommended to research on their own before making any investments in any company.