Less than 24 hours ago, Overstock.com – the online retailing giant – of a trading platform their development team has been working on called tZERO. The project has a private offering for the tZERO Security token (TZRO) that is currently in progress. It was extended till May 14th this year from an earlier deadline of March 1st.
According to , they will enter into Simple Agreements For Equity (SAFEs) only with accredited investors pursuant to the terms and conditions set forth in the Offering Memorandum, dated March 1, 2018, for the Token Sale.
Also according to the website, tZERO’s Security Token front end is designed to trade security tokens in an easy, compliant, and user-friendly manner. This system is integrated with tZERO’s existing 15c3-5 risk management software, order management system, matching engine, and a plethora of proprietary technology to support the eventual trading of security tokens.
The demonstration of the prototype of the platform is meant to reach out to the cryptocurency and regular securities trading community for input, questions, comments and ideas for improvement – ahead of the final launch in May. They too are operating on a regulation grey area as they await SEC guidelines on the whole industry of cryptocurrencies and security tokens.
So far, has raised $250 Million from its private offering and this amount is expected to grow with a month till it ends.
The tZERO token (TZRO) is an ERC20 token that will be offered as a security to qualified investors in accordance with US and other laws. The token will pay 10% adjusted gross revenue to token holders on a quarterly basis. TZRO joins other dividend based tokens that were used to fund exchanges such as (BNK) and KuCoin Shares (KCS).
Bankera pays its dividends to investors on a weekly basis whereas KuCoin does its payment on a daily basis. All this is possible through the ever amazing smart contracts available in the cyrpto-verse.
To note is the constant enthusiasm by regular companies dealing in traditional business, venturing into the world of cryptocurrencies and blockchain. Overstock also joins the Rockefeller arm of investing, Venrock that recently partnered with Coinfund, in this trend of doing so.
Perhaps Bill Baryhdt was right , All Hell Will Break Loose in crypto this year.
[Photo source, tzero.com]
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The dev focus was focused on optimizing P2P sync, adding support for backward compatible chain changes, and fixing synchronization issues.
The Easter holiday affected the work of æternity’s developers this week, but progress was achieved nonetheless.
After successfully introducing Noise for secure peer-to-peer communication, we have moved on with the next release that will be primarily dedicated to improving and optimizing peer-to-peer synchronization as well as introducing support for backward compatible chain change (hard fork without restarting the chain).
At the beginning of this week we identified several issues in our synchronization protocol and to ensure smooth operation of Testnet, a decision was made to create an unscheduled maintenance release 0.10.1 with fixes for these issues. The release is available under in .
Interested in æternity? Get in touch:
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