Utorg became the first cryptocurrency exchange in Europe, where you can trade the so – called Future Tokens-not yet issued tokens of projects that have passed the ICO. For this purpose, a special section of the IOU Desk has been launched on Utorg.
The Utorg exchange has launched an IOU Desk, where you can trade tokenized obligations of projects that have not yet been listed on the exchange. The first such project was Perlin, waiting for the IEO on Binance.
What is an IOU Desk?
IOU (I Owe You) is a tool that is well known to those who actively invested in ICO 2017-2018. This is the collective name of various documents that formalized the obligations of the founders to investors. The most common type of IOU documents is SAFT (Simple Agreement for Future Tokens), similar to the SAFE (Simple Agreement for Future Equity), which is popular in classic venture capital financing.
Such IOU funds have accumulated a lot. And often they no longer fit into the investment strategies of the funds. Utorg buys such IOU of promising projects from the funds, tokenizes them and puts them up for auction. After purchasing the exchange’s internal tokens for a specific asset, the user sees them in their personal account.
The exchange is not responsible for the activities of the projects, but guarantees that when the real project tokens are issued and transferred to the exchange instead of SAFT, they will be distributed among those users who will have IOU tokens on their balance for this project.
Buy Perlin before IEO on Binance
Exchange specialists carefully select projects before bringing them to the IOU Desk-they study the history of each project and the current state of affairs in it. The roadmaps of such projects are being implemented in a timely manner, the community is growing, and there is market interest in their products and solutions. But the tokens have either not yet been issued, or have not been brought to the exchanges.
The Utorg team promises to delight users with the hottest offers. And the first project on the new site was Perlin.
The IOU Perlin package, owned by the Advance.fund investment fund, is up for auction. The Fund is a strategic partner of the Utorg exchange. The fund invested in Perlin during one of the earliest rounds. The transaction was closed on June 27, 2018. According to SAFT, 1,292,202 tokens were purchased.
Perlin is a highly scalable PoS platform for smart contracts that delivers over 31,000 TPS of throughput. This is the fastest, safest, and most scalable blockchain solution available.
Perlin clearly follows the roadmap-it released a working prototype back in November 2018. During 2019, the team developed Wavelet and the Clarify and Certify trading apps.
Perlin is currently focused on the $ 11 trillion international trading market. The network will be developed jointly with international chambers of commerce and a number of large corporations. This will allow you to quickly scale the project, which covers more than 150 countries and 40 thousand companies.
Recently, Binance Launchpad became interested in the Perlin project — the exchange announced the initial public offering on August 8. According to the results of this IEO, the price of the token can grow many times.
What is known about the Utorg exchange
Utorg.io a fairly young project launched by experienced representatives of the crypto industry. You can learn more about it here. Then the exchange just went into Beta testing. It is still ongoing and you can participate in it to get six months of work without commissions and other bonuses.
Since then, the exchange has introduced new features. Improved the interface for user comments and added pairs with USDT. Although there are still a few cryptocurrencies, there is everything you need for crypto-fiat-crypto operations. In particular, the exchange manages to keep the best rate for selling bitcoin for rubles, which is confirmed by monitoring the bitcoin exchange rates on exchanges, taking into account all commissions Truebtc.io. Utorg consistently holds the first line at the rate of sale of bitcoin with the withdrawal of rubles to the cards of Russian banks. This is ensured by actively working with exchangers, which are convenient to buy BTC here via the API. In addition, the commission for the withdrawal of rubles to Visa and Mastercard to Utorg is very low, since Utorg offers the payment system favorable conditions for crypto processing