Smart Monitoring Platform, PARSIQ, Launches its IEO on CoinMetro Direct

CoinMetro, a crypto exchange, today announced that PARSIQ is the first project on its IEO platform, CoinMetro Direct. The Direct platform is a new way of conducting Initial Exchange Offerings (IEO). It protects participants, and holds projects accountable to pre-agreed milestones and timelines – with investor refunds possible if a startup doesn’t deliver. CoinMetro estimates that up to 90% of ICOs that raised money in 2017-2018 either didn’t deliver to their milestones or have already wrapped up operations. This made investing in ICOs a risky prospect and it’s with this in mind that CoinMetro created an IEO platform with added protection for contributors.

Funds raised are not passed on to the projects in full, but rather are held in escrow by a third-party custody service. Funds are only released incrementally when projects reach predetermined milestones according to predetermined timescales, and if a project doesn’t deliver, its investors are entitled to vote on a refund of the funds not yet released to the project. Read More...

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