BioCoin, the international blockchain-based loyalty platform created by an eco-farming and retail network LavkaLavka, pioneers the ICO market as the first token sale held in full compliance with Russian laws. Its founder Boris Akimov have recently been invited to head the ICO department at RABAC (Russian Association of Blockchain and Cryptocurrency). Being the first legal ICO in Russia, BioCoin’s ongoing public sale is expected to form a basement for future ICO regulation in Russia.
Boris Akimov commented:
“We are excited to hold the very first legal ICO in Russia. Our blockchain platform has already drawn interest of wide audiences, including Prime Minister Medvedev, who attended our presentation. We have secured legal support from Elina Sidorenko, the head of the Russian parliament’s interdepartmental working group on cryptocurrencies. On the advisory board we have Michael Shlypanikob, the figurehead behind blockchainisation of Russian eco-farming and SibCoin’s team, who created a wildly successful Russian cryptocurrency, which in the last two years increased in price times 200.”
Initially, BioCoin is a decentralized loyalty platform created to facilitate the eco-friendly and healthy agricultural paradigm around the world. It is designed to support local farmers and organic food retailers and allow them to return value into their communities. The platform differs from all the other existing loyalty programs as it offers BioCoins as a reward and allows to use them for payments within the network, or trade them against other cryptocurrencies on exchange platforms. The token itself represents a Peercoin fork designed to fuel the platform.
LavkaLavka is an eco-farming cooperative targeted at supporting local farming communities. The company has already built the foundation of this new ecosystem creating an international farmer cooperative. Today it is backed by tens of thousands of consumers, retailers and farmers worldwide, and more and more new businesses are joining the network weekly. According to LavkaLavka team, about 20 mln BioCoins are already in daily circulation, used by farmers in Russia and several other countries.
On September 25 LavkaLavka announced its collaboration with Voskhod, an electronic system for investment in the Far East region of Russia, and its intention to hold the BioCoin’s crowdsale, the main round of which has officially started today, on November 1.
The preceding round of BioCoin’s pre-sale has been finished with a spectacular success. According to the report, during the first two weeks of ICO, thousands of people took part in the pre-sale and purchased $2.5 million worth of BioCoins, which is twice as large as what they initially hoped for and constitutes 13% of the crowdsale’s goal which was set at $15 million.
Boris Akimov concluded:
“Often the concept of pre-sale is used by startups as a PR stunt only. For us pre-sale was tremendous work which yielded great results.”
During the recently started main round of crowdsale hosted by the first official Russian cryptocurrency platform Voskhod, the tokens will be sold at the rate 40 BIO (November 1-2) and 35 BIO (from November 3) for 1 USD. BioCoins can be purchased for BTC, ETH, WAVES, SIB, USD, EUR, RUB, MasterCard, Visa, Yandex.Money or QIWI.