Bounty and Airdrop Campaign: How to Participate

Swiss-based company Soraix is currently running a bounty and airdrop campaign which began on 26 August 2019. The campaign will continue to 24 November 2019 and aims to increase awareness about the Soraix initial coin offering (ICO) which is running concurrently.

Bounty and Airdrop Definition

Bounties and airdrops both involve the allocation of tokens to participants. However, a bounty is more intense than an airdrop. In addition, a bounty offers more tokens than an airdrop. Therefore, tokens distributed during an airdrop are considered free since the tasks involved are light.

A bounty enables a company to receive extra marketing and exposure from the efforts of participants while an airdrop offers users a chance to test the platform and the token.

Bounty and Airdrop Campaign

The bounty campaign requires participants to perform a variety of tasks on LinkedIn, Twitter, Telegram, Facebook, YouTube, and Reddit. Participants can also undertake tasks like translating the project’s whitepaper into languages such as Indonesian, French, Swedish, German, and Vietnamese and publishing blog posts.

The Soraix airdrop campaign encompasses light social media tasks and referrals. The campaign allows participants to earn extra SRX tokens for performing optional tasks.

Tokens in both campaigns are sent to ether wallets 7 days after the completion and validation of tasks.

How to Participate in Bounty and Airdrop

To participate in the bounty and airdrop, you need to join the campaign’s official Telegram group, the ICO Telegram channel, and the ICO Telegram group.

Here is what you should do to participate in the bounty:

  • Visit the campaign announcement on Bitcointalk forum
  • Read through the campaign instructions carefully
  • Choose which tasks you want to take part in
  • Fill in the form
  • Create a proof of authentication post on Bitcointalk
  • Record the tasks you have performed on Bitcointalk

To participate in the airdrop, follow these steps:

  • Visit freeaidrop.io
  • Fill in the form
  • Complete the social media tasks indicated to earn 15 SRX
  • Refer someone to the airdrop and earn 10 SRX
  • Perform additional tasks and earn 50 SRX

Benefits of Holding SRX

Five percent of the SRX token supply is allocated to the bounty and airdrop campaign. That means that there are 50,000,000 SRX up for grabs.

So, why should you hold the SRX token?

First of all, the SRX token is stable because it is pegged 1:1 to the equity tokens emitted by private and public companies on the ETO platform. This sets SRX apart from most digital currencies

Secondly, SRX token holders will have an opportunity to share in Soraix’s revenue by trading the token with a limited pool of equity tokens.

“Token holders can trade their SRX for equity tokens trading on our exchange via a 1:1 peg, thus rendering the SRX token a valuable token to hold,” the Soraix Co-Founder PJ Przemek explains.

Thirdly, SRX is designed in such a way that it is in limited supply. This means that it will remain valuable.

The Soraix whitepaper reads: “We anticipate the purchasing power of the SRX Token as a means to share in our revenue will greatly enhance its appeal to our user base and ensure its stable growth as a digital asset of significant value to investors. We intend to reward those who invest in our token by enabling them to share in the revenue every new ETO launched on our platform generates for Soraix and SRX Token holders.”

Bounty hunters can check their names on the participant spreadsheet on Bitcointalk forum. In the case that your name does not appear on the list, kindly fill the respective forms again.

Blockchain Technology Simply Explained

Blockchain technology is an emerging technology that was first heard of with the introduction of bitcoin in 2009. The technology has since made a stir in all sectors as industry players anticipate its transformational implications.

Based on the concepts of decentralization and distribution, blockchain technology gives control back to the people. This eliminates central authorities and intermediaries resulting in reduced costs, increased speed, less bureaucracy, and more transparency.

Blockchain Technology Definition

Blockchain technology is a distributed ledger technology (DLT) that allows the transparent and secure recording of transactions in blocks. The recorded data is immutable which means that it cannot be removed. In addition, blockchain technology uses consensus algorithm, a system by which the distributed nodes on the network agree on which data is correct.

How Blockchain Technology Works

When information is passed from person A to person B on a blockchain, it is recorded on a block. This block is linked to the previous block which is connected to the block before that. Consequently, you cannot delete data on a blockchain because every block contains the hash, timestamp, and transactional data of the block before it. Ergo, deleting the data on one block would entail deleting the data on every other block. This is virtually impossible.

On the blockchain peer-to-peer network, information is distributed to all the nodes and reconciled often. That means that the data is not stored on a single location. These nodes have to agree before a block is added to the chain. If most of the nodes agree that the information on that block is correct, then the block is accepted into the ledger. If the majority of the nodes deny the block entry, then it is not added to the chain. This process is known as a consensus algorithm.

Types of Blockchain Technology

There are three main types of blockchain as follows:

  • Public blockchain: this type of blockchain allows access to everyone, therefore, promoting transparency. Anyone can participate in the network of a public blockchain as a miner, developer, user, or community member. The token used in a public blockchain is designed to incentivize participants. Examples of public blockchains include Bitcoin, Ethereum, and Steemit.
  • Private blockchain: accessibility to a private blockchain is by invite only which means that access to data on the blockchain is only visible to a select few. This type of blockchain is ideal for corporations that want to leverage the advantages of this technology while keeping their business data private. However, this type of blockchain lacks decentralization. An example of a private blockchain is Corda.
  • Hybrid blockchain: this blockchain addresses the limitations of public and private blockchains by offering decentralization and privacy.

Blockchain Technology Pros and Cons

Generally, blockchain technology has a lot of benefits and it can transform banking, stock exchanges, land registration, supply chain, elections, and money transfers. However, this technology has also garnered its share of criticisms.

Pros of Blockchain Technology

  • It offers transparency and trust.
  • Data is distributed to every node on the blockchain reducing the chances of malicious attacks.
  • Data recorded on a blockchain is immutable.
  • Overall costs and time of making transactions decreases since third parties and intermediaries are eliminated.
  • Users are in control.
  • Blockchain data is accurate.

Cons of Blockchain Technology

  • Since changing data on the blockchain is impossible, it leads to hard forks.
  • Blockchain ledgers are not large enough to store a lot of data.
  • Since a user is in charge of their private key, once they lose it, the coins in their wallet are lost forever.

Blockchain technology has a lot of use cases thanks to its unique benefits. At Soraix, we are leveraging these advantages to transform traditional stock exchanges and to enable businesses of all sizes to raise capital at low costs. To sign up for our ongoing ICO, visit https://soraix.com/.

What is an IEO?

If you are hearing of an Initial Exchange Offering (IEO) for the first time, you will be happy to know that it is another fundraising option for companies in the crypto and blockchain space. IEOs are increasingly becoming popular in 2019 as fundraising options evolve.

According to an article on Hackernoon, an IEO uses a crypto exchange as an intermediary. This means that the crypto exchange awards investors tokens as opposed to receiving them from the project owners.

The major difference between an IEO and an (initial coin offering (ICO) is that the former is hosted on an exchange while the latter is hosted by a company. Furthermore, an IEO raises a moderate amount of capital compared to an ICO.

IEO History

To understand IEO history, one has to trace the progress ICOs have made since Ethereum’s token sale. The ICO boom started after the release of ERC-20 standard in 2016 and it came to a halt at the end of 2018. During this period, capital raised from ICOs increased from $90 million to $7.8 billion. Before this, ICOs had raised about $22 million between 2014 and 2015.

One of the biggest winners during the ICO boom were crypto exchanges which charged project teams high fees to list tokens. Since the ICOs were raising plenty of capital, these high fees were easily met. However, when the ICO boom busted at the end of 2018, project teams could no longer afford these token listing fees. As a result, the exchanges had to look for a different way to make revenue. IEOs were the outcome.

How an IEO Works

Initially, the project team will approach a crypto exchange of its choice and surrender some of its tokens. The project team also pays a certain amount in listing fees to the crypto exchange. Once this is done, the responsibility of making the IEO a success shifts to the exchange. That means that the exchange handles the marketing, investor evaluation, and funds collection. Additionally, the exchange puts up the IEO on its website.

The IEO takes place on the exchange and once the token sale is completed, the tokens are listed for trading.

An article on 99bitcoins reports: “IEOs are usually classified as utility token offerings. However, due to the ambiguous nature of this classification, most IEOs will probably not be available in the U.S as exchanges fear regulatory clampdown by the SEC.”

IEO Pros and Cons

The greatest benefit of an IEO is trust, a characteristic that some ICO projects have failed to achieve. This is because exchanges are likely to work with high-quality projects that will have a positive impact on their brand.

Secondly, an IEO offers liquidity to investors because the tokens are listed immediately after the token sale for trading.

Thirdly, an IEO reduces the tasks that the project team has to handle. For instance, the exchange is responsible for carrying our KYC and vetting users. Moreover, exchanges offer an existing user base to the project team which means that they do not have to start from zero.

Unfortunately, the fact that exchanges handle most of the work means that project teams have to pay a lot. What’s more, IEOs are designed to benefit exchanges more than the project owners.

An IEO could also lock out potential investors if the exchange is not available in certain countries. This could affect the ability to achieve the target capital.

That said, project owners can decide to run an ICO first and then use an IEO to meet the capital gap if there is any. This way, they can capitalize on the advantages of each fundraising option.

Soraix has received several suggestions from our community to launch an IEO. This is a move that the team is currently considering. In the meantime, the Soraix ICO begins on 26 August 2019.

4 Investment Options You Can Make in Blockchain

It is a well-known fact that the blockchain and cryptocurrency space has created millionaires. According to BitInfoCharts, it is difficult to tell how many people have made million-dollar profits from cryptocurrencies. However, “this number could range from 20,000 to 200,000,” said a spokesperson of this platform.

Some of the world’s renown bitcoin millionaires include American rapper 50 Cent, the Winklevoss Twins, and ‘Bitcoin Jesus’ Roger Ver.

It is, therefore, unsurprising that so many people all over the world are curious to find out how they can invest in this industry and make significant profits. In this article, you shall learn of four investment options that could help boost your wealth.

Option 1: Cryptocurrencies and Tokens

Cryptocurrencies and tokens are one of the applications of blockchain technology. Additionally, this is the most obvious investment option for anyone thinking about investing in this industry. Nonetheless, this investment option is the riskiest.

There are over 2,400 cryptocurrencies in the world according to Coinmarketcap. That could mean that there are more than 2,400 money-making options for you out there.

When investing in cryptocurrencies, you can go for the top coins like bitcoin and ether or you can invest in stable coins.

You can also invest in tokens offered during initial coin offerings (ICOs), security token offerings (STOs), equity token offerings (ETOs), airdrops, and bounties. Investing in ICOs, for instance, can be lucrative. A good example is Ether which has risen significantly in value since its ICO in 2014.

The general rule you should follow before investing in cryptocurrencies and tokens is undertaking thorough research and only investing money you can afford to lose. If you are thinking of investing your savings or pension money, then this is not the right investment for you.

Option 2: Learn a Blockchain Skill

Blockchain and crypto jobs are on the rise globally with blockchain developer being one of the most sought after role. According to AngelList, technical jobs in the blockchain space pay higher than similar roles in non-blockchain companies.  For instance, blockchain developer salaries range from $125,000 to $175,000.

Therefore, learning a technical blockchain skill is a great way to invest your money in an industry where demand is higher than the supply. That could mean that getting a job is guaranteed.

Furthermore, you can earn money by teaching others the ins and outs of blockchain technology. Simply invest time and money to understand the technology and then pass the knowledge on to others.

Some of the top companies employing people in this space include IBM, Ernst & Young, Oracle, and Accenture. You can access blockchain courses through IBM, Coursera, Udemy, and several universities all over the world.

Option 3: Invest in a Blockchain Solution

Companies offering blockchain solutions are cropping up everywhere. Interestingly, funding is the biggest challenge facing these startups. This offers interested investors an opportunity to inject their money in a project they are confident will grow tremendously.

Blockchain solutions you might consider looking out for include those in healthcare, finance, agriculture, and real estate.

When making such an investment, ensure that the company has the right structures and drive to make profits. You should also ensure that they are using blockchain in their project and that they have skilled developers on their team.

Option 4: Blockchain ETFs

Blockchain exchange-traded funds (ETFs) are becoming a popular way to invest in the technology with countries such as the US and Canada accepting this form of investment.

“An ETF offers dual benefits – it offers diversification by spreading money across multiple stocks like a mutual fund, and live real-time trading opportunities like a stock that changes with every tick, allowing intraday trading opportunities to active traders,” Investopedia explains.

The risk of investing in blockchain ETFs is lower than that of cryptocurrencies. However, always undertake thorough research before taking the plunge.

It is fascinating that an industry only a decade old has already produced millionaires and will continue creating wealth for many more people in the years to come. Nevertheless, as with any other investment, always weigh the risk vis-a-vis the returns before making your move.

Understanding Smart Contracts

If someone told you that you can buy a piece of land from a seller in a different country at the comfort your home, would you believe it? Self-executing agreements where the terms between the buyer and the seller are written in code are making it simple to exchange items of value. These agreements are called smart contracts and are executed on public blockchains. Smart contracts enable the exchange of items such as money, shares, and property.

Ethereum was the first project to introduce smart contracts that are applicable beyond the currency use case. Bitcoin uses basic smart contracts which enable the transfer of value from one person to another.

Smart contracts work in conjunction with decentralized applications (Dapps) and decentralized autonomous organizations (DAO).

How Smart Contracts Work

An insurer and an insuree can get into an agreement with the use of smart contracts. The smart contract stipulates pre-agreed terms between the two parties regarding the payment of claims which are executed once predetermined conditions are met. Smart contracts, therefore, create mutual trust by ensuring that no party manipulates the other.

In this case, the smart contract is written in code and committed to a blockchain accessible by both parties.  The smart contract then operates on an if-then condition. If the insuree makes a claim encompassing certain pre-determined terms, then the insurer releases the payment in cryptocurrency.

According to Ethereum Co-Founder Vitalik Buterin: “The program runs this code and at some point, it automatically validates a condition and it automatically determines whether the asset should go to one person or back to the other person, or whether it should be immediately refunded to the person who sent it or some combination thereof.”

This process eliminates insurance brokers thereby reducing costs. Furthermore, the smart contract is automatically cancelled once the set timeline has expired.

“Software algorithms within smart contract code can remove administrative barriers, predetermine all insurance payout scenarios, and automatically execute contract terms, leaving no space for manipulation on either side,” an article on Intellias explains.

Smart contract use cases range from real estate, shipping and logistics, banking, and intellectual property.

Why are Smart Contracts so Great?

  • Trust: The above example shows how two parties that would not ordinarily trust each other can find mutual trust through a smart contract. A smart contract is also encrypted and no one else but the involved parties can access it.
  • Immutability: No one can remove the evidence proving that two parties entered into an agreement. This is because the immutable nature of the blockchain ensures that every node on the network has a copy of the smart contract.
  • Autonomy: Smart contracts eliminate the role of middlemen. That means that insurance brokers, who might manipulate the insuring process, are removed from the insurance chain.
  • Accuracy: Smart contracts are executed automatically, thereby, increasing accuracy, efficiency, and speed. This is contrary to manually created contracts that are exposed to human errors.
  • Safety: Cryptography ensures that the details of the smart contract are safe from hacking or any outside interference.
  • Lower costs: With intermediaries out of the way, the cost of transferring items of value such as property decreases significantly. Moreover, the high level of accuracy ensures that any confusion is eradicated. This means that parties do not have to seek litigation services.

Smart contracts are transformative. However, bugs affecting the code and deploying regulatory frameworks are barriers that are not yet addressed. Fortunately, this concept is still under research and could lead to extensive improvements in time.

Can Stable Coins Improve the World’s Economies?

The high volatility of cryptocurrencies such as bitcoin has led to the creation of stable coins. Stable coins are “digital assets representing the value of another asset or currency that is outside its blockchain.” Stable coins are ‘stable’ hence making them ideal for investors. This is because the underlying asset usually has stable market demand. For instance, Tether’s underlying asset is the US dollar. But can stable coins improve world economies?

Alternative to Unstable Fiat Currencies

A fiat currency can potentially become unstable when a country is facing political instability or when the public does not have faith in it.

“The value of fiat money is dependent on how a country’s economy is performing, how the country is governing itself and the effects of these on the interest rates. […] Also, it must be backed by the full credit of the government that gives a decree and prints it as a legal tender for financial transactions,” an article on Corporate Finance Institute explains.

Stable coins, therefore, become a great alternative for countries with unstable currencies. For example, a country like Zimbabwe could benefit from a stable coin since the country’s currency failed in 2009.

Other Benefits to the World Economies

Like most aspects of life which are moving online, stable coins are facilitating part of this process. According to an article on Medium by Richard Slenker, stable coins offer investors the opportunity to continue enjoying the digital economy while real-world assets such as gold and fiat money are brought online.

That means that assets that were not previously accessible online are now digitized creating a more vibrant, convenient, and efficient economy.

With stable coins, investors avoid the high volatility of other cryptocurrencies but still benefit from blockchain’s transparency and security. Moreover, blockchain technology eliminates middlemen thereby reducing the cost of converting fiat to crypto.

Stable coins could propel the growth of cryptocurrencies and allow them to dominate the world, MIT Technology Review predicts. And with the benefits that cryptocurrencies bring such as low transaction fees; this could be a good thing for the world’s economies.

“Non-volatile digital coins can form an ‘infrastructure layer’ that could vastly expand cryptocurrencies’ global user-base,” says Garrick Hileman, the head of research at a crypto services company.

The Challenges

A stable coin pegged to a cryptocurrency could lead to a coin that is not as stable as it should be. In addition, if this issue is solved through over-collateralizing; the stable coin is still in danger if the cryptocurrency crashes in price. Over-collateralizing means that the amount of the cryptocurrency is higher than that of the stable coin.

When the underlying currency is fiat money, a third party will surely be involved thus leading to centralized control. On the other hand, an algorithmic stable coin fails to consider the basic principles of economics according to the Founder of blockchain startup Monax Preston Byrne.

“Price is determined by a meeting of the minds of a buyer and seller, not by an algorithm. All that is required for these systems to fail is for people to not buy the product,” he states.

An algorithm is used to increase or decrease the supply of a stable coin. This kind of coin does not have collateral and depends on an algorithm for stability.

As with blockchain technology and cryptocurrencies, stable coins are at a young stage of development. It will, therefore, take time to determine if this concept can work or not. However, one cannot ignore the potential benefits of stable coins toward the world’s economies.

Blockchain Use Cases in the Financial Industry

The decentralized, transparent and immutable nature of blockchain technology makes it suitable for use in the financial industry. Companies like JP Morgan Chase and Bank of America are at the forefront of applying blockchain technology in the banking industry.

According to a 2019 Deloitte Survey, the financial sector is leading in blockchain development. “Financial services and, more specifically, financial technology (fintech) sector were leading in blockchain development, while other industries were cautious in their search for use cases,” the survey read.

A report from the International Data Corporation also observed that the financial services sector had the highest amount of money set to be invested in 2018. In this article, you shall learn of three blockchain use cases in the financial industry.

Stock Markets

Blockchain technology can protect investors from losing their investments in the stock markets as well as cutting the costs involved. For instance, the blockchain reduces the number of intermediaries between a stock buyer and seller. Consequently, the fees incurred also reduce.

Sam Mire writes on Disruptor Daily: “The use cases start simple, by automating stock trading to cut out fees and middlemen, or logging trade histories and mandatory financial data on a blockchain to ease regulator access. This technology could even enable totally new asset classes for trade.”

Smart contracts executed on the blockchain can simplify post-trade settlements and reduce lag-time. Moreover, smart contracts can increase the speed and efficiency of releasing dividend payments to shareholders.

The blockchain is also capable of enabling companies to raise funds more efficiently at a lower cost while enabling stock and bondholders to vote remotely.

Some of the exchanges that are experimenting with blockchain technology to improve the stock markets include Nasdaq, India’s National Stock Exchange, and Australian Stock Exchange.

Banking

Bitcoin, blockchain technology’s first use case, was created to ‘unbank’ the globe’s population. By enabling people to control their own money, banks would take a much lesser role in people’s lives.

However, the blockchain offers solutions to improve the banking sector without threatening to eliminate it as is the case with bitcoin.

Blockchain technology can improve anti-money laundering, know your customer regulations, customer recordkeeping, syndicated loans, and cross-border money transfers. Cross-border payments tend to be expensive and slow. However, with blockchain, these payments become less costly and reach the recipient much faster.

The emerging technology can also improve trade finance through faster settlements and enable banks to prepare financial statements in real-time and release them promptly to the relevant stakeholders.

Enterprise blockchain solutions can also reduce the time it takes a bank to issue a loan and track and manage asset rehypothecation. According to ConsenSys, “Rehypothecation is the process by which banks and financial institutions leverage assets that have been posted as collateral by their clients. In return for lending their assets to the bank, clients receive rebates on fees or lower borrowing costs.”

Insurance

Fraud is a common challenge in the insurance sector. Fortunately, blockchain technology can solve this through smart contracts to increase efficiency in the assessment of insurance claims.  Automated claims processing reduces lag-time and related costs.

With the blockchain, it is easy for insurers to access the historical data of their customers. Furthermore, they can track the medical records of their clients. This boosts efficiency in the entire health insurance ecosystem.

In an article dated 2018, Accenture reported that 33 percent of insurers are planning to apply blockchain technology in the next two years.

Although blockchain technology is still at its infancy, it promises to develop the financial industry in many amazing ways. It is, therefore, worthwhile to keep track of the changes that will take place in the coming years as adoption becomes widespread.

Swiss-Based Company Soraix to Launch ICO in August 2019

Zug, Switzerland- August 1, 2019… Soraix GmbH will launch an initial coin offering (ICO) in August 2019. The three-month ICO will raise funds towards the creation of an equity token platform and digital asset exchange. This comes at a time when ETOs are increasingly becoming popular as companies look for easier ways to raise capital.

The ICO will introduce SRX, an ERC20 token that will go for 0.00025ETH. Once the ETO platform is built, token holders will trade the SRX for equity tokens trading on our exchange via 1:1 peg. This renders SRX a valuable token to hold.

Founder and CEO of Soraix Lucas Komarnicki said: “Our ambitious plans lead to a complete reorganization of capital acquisition through equity token offerings. To this end, we will create a dedicated blockchain that will serve to issue share tokens and raise capital through a reliable and trustworthy platform that is open to companies from all over the world. The Soraix platform will enable investors to participate in profits generated by the above companies in connection with their business activities. Thanks to the unique business model, we anticipate a huge diversity and availability of equity tokens that interested investors can purchase. Our ultimate goal is to create a system that is profitable for everyone.”

Raising capital is a challenge that most companies experience and Soraix wants to change this. Companies will enjoy low-cost listing fees compared to those charged at stock exchanges. Moreover, all users of the Soraix platform will benefit from transparency, security, and 24/7 access. The platform will also allow users to exchange fiat, cryptocurrencies, and other digital assets.

“At Soraix, we are determined to build a much-needed alternative to IPOs.  The costs associated with IPOs are prohibitive to most businesses, and as such are greatly limited in the number of businesses that can benefit from them.  The platform we intend to build will enable companies of all sizes to issue equity tokens on our dedicated blockchain, enabling them to raise capital at a fraction of the costs associated with traditional IPOs.  In addition, retail traders using our platform will have access to a first-of-its-kind revenue-sharing model, by virtue of being able to trade their Soraix token, pegged 1:1 to a limited pool of equity tokens emitted on our platform by companies, against said tokens, regardless of their trading value,” explains PJ Plazinski, the Co-Founder and CFO at Soraix.

The ICO has a hard cap of USD 24 million and a soft cap USD 4.5 million. 60 percent of the 1 billion tokens are allocated to the token sale, 5 percent to the bounty and airdrop, 10 percent to reserve, 20 percent to the team, and 5 percent to the advisors. To sign up for the Soraix ICO, click this link https://soraix.com/.

What is a Token?

The digital economy has over the last decade experienced a boost due to the introduction of blockchain technology and cryptocurrencies. The rise of these two creations has initiated the concept of a token.

Token Definition

According to BBVA, a token is a unit of value issued by a private entity. A token is based on the blockchain and is accepted by a community that uses it to fulfil certain purposes. Interestingly, it is the token designer that decides what it will be used for.

Business Blockchain author William Mougayar gives a more comprehensive definition as follows: “A token is a unit of value that an organization creates to self-govern its business model, and empower its users to interact with its products while facilitating the distribution and sharing of rewards and benefits to all of its stakeholders.”

The concept of a token has brought about tokenization, a process through which assets are digitally represented on a blockchain in token form.

Token Vs Cryptocurrency

A cryptocurrency has its own blockchain while a token is built on a blockchain like Ethereum that allows the creation of decentralized applications. Furthermore, a token has a broader purpose while a cryptocurrency only has one.

For instance, a token’s purpose can range from raising capital during an ICO when it is sold in exchange for bitcoin or ether to rewarding buyers that purchase items on an online store. On the other hand, a cryptocurrency is similar to fiat money in that it only has a financial purpose. Bitcoin is an example of a cryptocurrency.

Token Types

There are several types of tokens depending on the use they are designed to serve. Blockchain lawyer Cristina Carrascosa states: “A token can be used in whichever way the person or organization designing and developing it decides. Tokens admit several layers of value inside it, so it is the token’s designer who decides what a specific token has inside.”

Here are the basic token types:

  • Security token-A security token acts as a holder of value. After an offering, this token is proof that you own a piece of the new cryptocurrency. The US Securities and Exchange Commission considers a token a security token if investors are expecting profit. When this is the case, then the offering is subject to regulation. To check if a token falls in the security token class, you should perform the Howey test.
  • Utility token-A utility token is used to buy a product, service, or currency from the platform that is carrying out an ICO. Ethereum’s ERC20 standard is the most popular example of a utility token.
  • Equity token-An equity token could represent the ownership of a company’s asset or debt. A person holding an equity token may gain some form of ownership from their investment.
  • Asset token-An asset token represents a real-world asset which allows the token holder to own something without actually possessing it in real life.
  • Reward token-A reward token is used to incentivize loyal users for undertaking certain tasks on a platform. For instance, a company can reward a customer with tokens every time they refer someone new to sign up on their platform.

Thanks to the blockchain, tokens are creating new avenues for investment and ownership. It will be interesting to see how this concept grows with time and how much more freedom human beings can achieve with a token.

Everything You Need to Know About the Upcoming Soraix ICO

Since 2013, initial coin offerings (ICOs) have been a great way for companies to raise capital for their crypto and blockchain projects. Zug-based company Soraix is taking this opportunity to pool together funds for an equity token offering (ETO) platform and digital asset exchange. The ICO will run for three months starting August 2019.

The ICO details are as listed below:

  • Price- 0.00025 ETH
  • Hard cap- USD 24 million
  • Soft cap- USD 4.5 million

The ICO is open to investors of all portfolio sizes enabling the vast majority of those interested to participate in this opportunity.

Furthermore, investors can look forward to a trustworthy ICO process that is hosted in a country with consumer-friendly rules and regulations.

The Token

SRX is an ERC20 token which will be sold during the ICO at 0.00025 ETH. The token is in a limited supply of 1 billion with 60 per cent of this amount allocated for the token sale.

According to the Soraix whitepaper, investors will get “the unprecedented opportunity to purchase the SRX token which will be based on a 1 to 1 peg to equity tokens emitted by private and public companies, enabling our users to purchase such equity tokens at often heavily discounted rates and thereby directly share in our company’s profits.”

The remaining SRX tokens will be divided as follows: five per cent will be allocated to the bounty and airdrop, twenty per cent to the team, five per cent to advisors, and ten per cent will be held in reserve.

ICO participants can use an ether wallet of their preference to store SRX tokens. Some examples of such wallets include Jaxx, MyEtherWallet, hardware wallet Ledger Nano S, and MetaMask.

The Project

The purpose of the Soraix ICO is to fund the establishment of an ETO platform and digital asset exchange. Soraix will leverage blockchain technology to help companies of all sizes to raise capital on this platform.

Soraix also proposes to create a platform where:

  • The blockchain is used to tokenize traditional tradable assets such as stocks, commodities, futures, and derivatives.
  • Cryptocurrencies, equity tokens, fiat money, and other digital assets are exchangeable against each other.
  • Traders can execute instant trades.
  • Investors can store their tokens securely on the Soraix wallets.
  • Participants can access a wide range of fiat money and cryptocurrencies both in the form of deposit and withdrawal.

The project aims to tackle the challenges attributed to traditional stock exchanges such as entry barriers caused by prohibitive IPO fees. As a result, companies that can raise these fees can launch initial public offerings (IPOs) while those that cannot are locked out.

The idea behind this project is backed by traders that have the interests of other traders at heart. The proposed platform sets out to offer traders a better experience than traditional stock exchanges.

Soraix plans to use 40 per cent of the funds raised to build this platform and upgrade the system while 50 per cent will be used for marketing, branding, education, and innovation. Ten per cent will be put aside for contingency purposes.

To sign-up and participate in the Soraix ICO, please click this link https://soraix.com/.