• Wed, 21 Aug 2019, 02:39 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

PUBLISH innovates the way tokens are sold, introduces “Benchmark Token Sale” (BTS) mechanism

Wed, 03 Jul 2019, 08:05 am UTC

Delivering on its previous promise of revamping the token sale mechanism, blockchain media solution provider PUBLISH has announced the successful implementation of the new system on TokenPost Korea Edition, a digital-native news website serving as PUBLISHprotocol’s first use case.

Inspired by “a safe token sale mechanism”, introduced in 2017 by Vlad Zamfir, the mechanism will allow users to buy and sell NEWS tokens from PUBLISH at a relatively low price towards the beginning of the token sale when the available supply is high, and at incrementally higher prices as more and more tokens are sold off.

By doing so, PUBLISH—as a major token holder and administrator—is signaling effective ceiling and floor prices to the market, which in turn will disincentivize any unhealthy speculation and “pump-and-dump” schemes. Further explaining its rationale behind the new mechanism, it said:

“Any price discrepancies between the ask/bid prices offered by PUBLISH on TokenPost and those available on the free market through various cryptocurrency exchanges where NEWS is listed should, in theory, be minimized by arbitrage traders.”

The token sale page can be accessed by visiting https://www.tokenpost.kr/news-token. Tokens can be purchased in major cryptocurrencies, including Bitcoin and Ethereum.



Currently, the facility is only possible from within the TokenPost platform, meaning that while tokens can be purchased and sold on TokenPost Korea Edition, tokens cannot be transferred in and out of the platform at this time. PUBLISH said it is currently working to roll out this functionality in the near future.

Moreover, the facility is only available to Korean citizens and residents who are registered on TokenPost Korea Edition and have gone through KYC checks. PUBLISH is also working with a third-party KYC provider to make this available on a global scale through TokenPost International Edition in the near future.

PUBLISH’s proprietary token NEWS started trading on Hoo cryptocurrency exchange this week. The company has also launched the beta version of PUBLISH’s decentralized hot wallet, “PUBLISHwallet.”

Furthermore, the Korea Internet Newspaper Association (KINA) has entered into an agreement with PUBLISH to introduce PUBLISHsoft, a blockchain-based content management system, into its operations.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,697.10 (-1.59%)
  • Ethereum (ETH) $194.64 (-3.16%)
  • XRP (XRP) $0.273400 (-2.45%)
  • Bitcoin Cash (BCH) $314.14 (-2.72%)
  • Litecoin (LTC) $75.30 (-1.77%)
  • Bitcoin (BTC) $10,697.10 (-1.59%)
Aug 20, 2019 (Tuesday)
14:02
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:14
HSBC inks agreement to tap Identitii’s blockchain-based information exchange platform ‘Overlay+’
11:59
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:29
Crypto Technicals: XRP/USD fails at 21-EMA, resumes weakness with 'Doji' formation
10:29
Israeli regulator seeks to expedite licensing procedures for fintech and blockchain firms
10:26
Crypto Technicals: Litecoin treads water below 200-DMA, bias bearish
09:26
bitFlyer teams up with Tpoint Japan to rollout bitcoin rewards program
09:03
Crypto exchange startup INX Limited eyes $129.5M IPO, marking the first SEC-registered security token sale
08:00
New York court denies Bitfinex, Tether's lack of jurisdiction claim
07:16
Crypto Technicals: BTG/USD recovery lacks traction, weakness likely to continue
07:15
Ethereum Foundation launches Korean version of its website, announces large-scale translation program
06:39
Crypto exchange BitMEX to block users in from Seychelles, Hong Kong, Bermuda
06:35
Cybersecurity veteran David Damato joins crypto exchange Gemini
05:42
Deloitte unveils demonstrational platform for blockchain solutions
05:36
Crypto Technicals: ETH/USD consolidates break above 200H SMA, potential 'Golden Cross' raises scope for upside
04:36
Crypto custodian BitGo poaches new Chief Revenue Officer from rival Xapo
03:50
97% of South Korean crypto exchanges on the verge of bankruptcy; blockchain startups now want to go overseas: Report
03:41
Philippines' central bank approves 2 new cryptocurrency exchanges
03:38
Association of Cryptocurrency Enterprises and Startups, Singapore rolls out new Code of Practice
Aug 19, 2019 (Monday)
13:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft