SeedOn, one of the world’s equity crowdfunding platforms using blockchain technology, has launched its native SEON token in three exchanges. Specifically, the token is now available in Digifinex, BitMart, and Binance Smart Chain (BSC)-based decentralized exchange (DEX) PancakeSwap.
Speaking about the launch, Claudiu Minea, CEO & Co-founder of SeedOn said:
By launching our token on PancakeSwap, the leading DEX on the Binance Smart Chain, along with Digifinex and BitMart, we ensure investors know exactly where their money is going when they support promising startups and projects. We are sure the listings will contribute to the continued growth of our community.
All token launches will take place on February 15, with the one for PancakeSwap starting at 1 a.m. EST, while those of Digifinex and BitMart will commence at 6 a.m. EST. It’s noteworthy that the token sale follows the successful ICO in mid-December when the platform sold 120,000,000 SEON valued at $1.2 million in a record five hours.
About the exchanges
PancakeSwap is the leading DEX on the Binance Smart Chain, boasting an average of 3.9 million monthly users, the most users of any decentralized platform. Digifinex is a centralized exchange platform providing more than 100 digital assets available for trading and investments. BitMart has been around since 2017 with over 9 million users buying, trading, and selling more than 800 cryptocurrencies.
Transparent and traceable trail
The Iasi headquartered platform leverages the smart contract escrow model to ensure transparent campaigns by releasing funds in stages according to achieved milestones. Importantly, it shows investors how their money is spent on a specific project.
The choice of SEON token instead of a fiat currency aims to leverage blockchain to make transfers completely transparent and traceable. Ultimately, this brings an entirely novel standard of equity crowdfunding that minimizes fraud.
Scams in Crowdfunding
Crowdfunding platforms have been tainted with scams that have dented the credibility of the entire industry. The inability of these platforms to vet campaigns has been the Achilles heel, hurting genuine project owners and investors.
The smart contract escrow model, coupled with a traceable native token insulates investors from loss of funds through fraudulent dealings. To buffer up the security, SeedOn uses artificial intelligence to validate projects before their listing. Moreover, a human validation process is undertaken to buttress the effort and establish the value of a project.