CDRX ICO Launches Pre-Sale, Public Sale to Follow on November 19
The highly promising project, which merges traditional financial markets and crypto assets, is now running it’s pre-sale, which will be followed by a public sale on November 19.
The team behind one of the most promising blockchain-based projects in the financial industry has already had commitments of $19 million in private funding. It is now launching a pre-sale round on November 5, with pre-ICO subscriptions scheduled to close on November 19. The pre-sale is to be followed by an ICO phase that will go live on November 19 and run until December 23 or until tokens are fully allocated, whichever happens first.
The project aims to reach a hard cap target of $100 million by offering the community its permanently fixed, non-securitized transaction CDRX tokens. They are issued on the Ethereum blockchain and are ERC20-compliant.
The total supply is limited to 400 million tokens, with 200 million of them allocated for sale and distribution in the ICO. The price of 1 CDRX is set at $0.5. During the period to November 17, which covers the early pre-sale stage, buyers will be offered bonuses from 32% to 5%.
"CDRX is grateful for the support of investors that recognise the long term value of the business and team. It is testament to both that in spite of market conditions, they have made significant early commitments."
About CDRX
CDRX is a project based on a revolutionary idea with the potential to democratize traditional financial markets and enhance their efficiency through the use of blockchain technology. According to CDRX, equities and bonds can be traded more quickly, safely and cheaply if they are converted into innovative digital instruments backed by corresponding underlying securities. CDRX suggests trading such new tokenized assets on blockchain as securitized tokens, or Crypto Depository Receipts (CDRs).
The project developers believe that CDRs represent an improved and more convenient way of holding traditional equity instruments since the investors retain all legal rights of ownership of the underlying real-life asset, including dividends and voting. At the same time, they can enjoy the numerous benefits offered by blockchain, such as security, high speed, very low administrative and transaction costs, and absence of intermediaries.
The solution will enable companies to both convert already existing financial instruments into CDRs and issue new equities and bonds directly as securitized tokens. In fact, companies do not need to get involved for the conversion of existing equities to CDRs.
CDRs also allow fractional ownership of underlying assets, which provides even small investors with the opportunity to become co-owners of the biggest corporations and the most expensive assets.