JobCoin Announces Initial Exchange Offering (IEO) and Listing on CoinBene Exchange
The token, aimed at simplifying payments and payroll accounting, will be used as a utility digital asset.
JobCoin, a token aiming at simplifying payroll accounting and payments, will hold an initial exchange offering (IEO) through CoinBene, the project announced in a statement for Cryptovest. The crowdsale will be held on the exchange this May 8, with a listing upcoming on May 17.
The JobCoin project will use the Ethereum blockchain to create a standard token for payments. Their mission is to decrease inequality and poverty through the usage of distributed ledger technology. JobCoin will also offer international remittances for the unbanked.
In addition to serving as a payroll token, and facilitating a pay-as-you-go economy, JobCoin will also be the native asset for an upcoming exchange, BitKing. The new BitKing market will offer high-leverage trading, competing with the biggest leverage trading platform, BitMex. BitKing will offer up to 500 times leverage. While potentially lucrative, such leverage is also extremely risky and any user is urged to perform their own due diligence.
In addition to CoinBene, the BitKing exchange will also hold an IEO event for the JobCoin Token.
Payroll accounting is one of the use cases for Ethereum-based tokens, and JobCoin is creating another service in that niche. The advantage of JobCoin is the inclusion of a payment card, allowing the receivers to switch from digital assets to cash.
The JobCoin economy has also made a recent offer to users to lock up a part of their holdings in exchange for a bonus. Locking the tokens until November 16, 2019, yields a 20% bonus, and locking them until May 16, 2020, will bring a 50% bonus. For now, the escrow account opened is still empty ahead of the token sale.
CoinBene is one of the older crypto-to-crypto exchanges, carrying 196 trading pairs. The market sees more than $820 million of trading in 24 hours.
Initial exchange offerings are replacing ICO crowdsales, which slowed down to almost a stop in 2018. After Binance offered some of the first hand-picked tokens in an IEO, most market operators are starting to offer new projects, with a crowdsale followed by a listing.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.