EDC Sells $250,000 Worth of Equibits on Opening Day
Proceeds will be used to expand team of developers, accelerate product development
TORONTO, Ontario — Equibit Development Corporation, creator of the Equibit blockchain and blockchain applications for the global securities industry, opened its initial coin offering on Feb. 1 selling $250,000 worth in equibits on the sale’s first day.
“We’re off to an incredible start. Over 120,000 equibits have been sold so far,’’ said Chris Horlacher, EDC’s chief executive officer. “This shows the strong support we’re getting from the community and will only get stronger as events unfold over the next two months.”
EDC has offered to sell one million equibits, a new digital asset, out of a total of 22 million equibits potentially available. The sale will run for 59 days to March 31 and is being held on a special sale page at EDC’s website.
Purchased equibits will be delivered to user accounts at EDC’s web-wallet service. EDC will retain any unsold equibits, as according to the sale’s terms and conditions.
The offering started with an initial batch of 100,000 equibits priced at $2 per coin. The crowdsale will adhere to a predetermined schedule, with the price for equibits to increase with each subsequent batch.
All equibits sold in the coin offering will be created in the EDC platform’s genesis block, constituting the inception of the system’s operation.
Proceeds from the crowdsale will be used to expand EDC’s team of developers, accelerate product development, support and expand the network of equibit supporters, install enterprise infrastructure such as supernodes and market Equibit blockchain applications.
For information on participation in the sale, please see the EDC website at equibit.org.
About Equibit Development Corporation
Equibit is the world’s first peer-to-peer equity marketplace and a complete platform for issuers to manage their investor relations without need of depositories and transfer agents. Founded by a former securities industry chief financial officer and a team of blockchain development experts, EDC was established with the aim of revolutionizing the securities industry.
