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The company aims to become the first next-generation cryptocurrency network to allow users engage with other investors and exchange investing ideas.
InvestFeed, the New York-based social investing platform, is launching its Token Generation Event (TGE) on July, 23, 2017. The sale of its FEED tokens will continue until August 7, 2017.
If compared to other ICOs, investFeed is going to raise a maximum of 28,000 Ether, what is rather low hard cap. Meantime, the minimum goal is 1,500 Ether. The company aims for the upcoming TGE to be completely open, transparent, responsible and honest.
Upon the completion, 89% of the tokens will be distributed among the investors, 5% will go to the Core Team, 2,5% will go for the production, 2% will be designated to advisors, and the remaining 1.5% will be used for the rewards and bounty system.
“The Token Generation Event is completely disrupting the way we think about capital raising, and in so many ways is superior to the VC model we are all used to,” said CEO of investFeed, Ron Chernesky.
“Our team walked away from a $5 million USD traditional raise so that we could conduct a TGE and better incentivize a growing cryptocurrency community, while selling enough tokens to build out a revolutionary platform, with a beta launching 90 days of closing. The difference between investFeed and the majority of companies conducting TGEs, is that we have imposed a low hard cap, or maximum participation amount, in the interests of responsibility, openness, transparency and honesty.”
Established in 2014, investFeed intends to become the first platform to provide an incentivized marketplace allowing investors to share peer to peer insights, investing ideas, breaking news, and market analytics. It lets users to share their feed with other investors, give tips to other users, and analyze investments made by others. Investors will be able to use the tokens to promote their content, use advanced trader tools, and access premium content, such as highly-rated investor insights.
“We are proud of the way we are executing the TGE because we are raising the minimum amount required to build our platform and grow a strong, incentivized community. Our tech is fully developed, and the combination of our own pre-built APIs and elements of social networks will consolidate the currently segregated, disparate communities of cryptocurrency followers into one single, easy-to-use marketplace,” Chernesky added.
Investfeed has also partnered with Bravenewcoin.com (BNS), a data and analytics provider focused on blockchain and digital asset industry. “Not only does BNC offer the ultimate source of historic and live market data, but this partnership will shave months of development time from our roadmap and allow us to faster deploy the new investFeed platform,” Chernesky said.
Also, the company recently announced plans to drop US equities and move to digital currencies, due to a rising demand from its users.