Global decentralized p2p lending platform Karma announced yesterday the official open trading of the platform’s native KRM token. The platform is supported by successful danish fintech startup OpenLedger. The OpenLedger DEX and the Korean exchange CoinLink have opened gateways to trading Karma (KRM) to meet popular demand.
Following its successful ICO campaign Karma’s KRM token swiftly achieved an impressive daily trading volume of over 10 million USD. Built on top of BitShares Graphene technology based blockchain, KRM tokens allow private parties from all over the world to lend to entrepreneurs directly bypassing banks and other similar intermediaries.
The Karma token sale began on November 27th with a hard cap of $10M USD and total of 1.275 billion KRM tokens available to backers. The OpenLedger supported project met its fundraising goals with ease by the 16th of December, 2017.
The Karma platform is currently being developed for creating socio-economic relationships between people, irrespective on geographic location, all across the globe. The idea is to allow people from the countries with free capital and low-interest rates to invest into entrepreneurs from the countries where money is much more expensive. As one of few ICO’s Karma has managed to give access to platform and therefore also its developed blockchain on the same day as giving access to trading..
Ronny Boesing, CEO of OpenLedger stated that;
“As their PR & Marketing partner during their token sale, and with a functional blockchain presented only a few weeks after the closing of their ICO, one has to say this ICO has delivered as promised and I am personally looking forward to seeing how this project will further evolve in future.”
Karma Co-Founder’s George Goognin has a Ph.D. in Economy Math Models and is Vice-chairman of the Russian Parliament Blockchain Experts Chamber and Artem Laptev previously for 10 years managed private p2p-investment funds for SMEs. Mr. Laptev has more than 10 years of experience in portfolio management in the financial industry at Troika Dialog, Sberbank, Ancor Invest and is an International CFA-certified financial analyst.
KRM Token Withdrawal Instructions
For OpenLedger users, they can now withdraw and deposit KRM tokens from the OpenLedger DEX to the Karma blockchain. Here are the instructions:
- English: https://docs.google.com/document/d/1BFmy3h0sfHqP8-Erb4TbcjuSSYLLj2RKfBFPw2CDQUk
- Korean: https://docs.google.com/document/d/1H3ok_iUKWZmBol1KT8285nDde4e1ib6hQnQSyZuff3o
- More than 1000 token holders.
- More than 4000 completed orders.
- Average order size: 2500 USD.
- 1,005,414,013 tokens sold.
- 269,585,987 tokens left unsold during the token sale. They are blocked for the future delegates/workers/witness payments, so nobody can access them. Only 62% of tokens will be in free flow for the first months.
- 500,000,000 tokens will be vested for the founders for 1 year.
- 365,611,390 tokens will be vested for bounties during 1–2 years.
Serving as Karma’s marketing partner, OpenLedger.io is a decentralized conglomerate aiming to make ICOs mainstream. The OpenLedger ecosystem includes advertising, trading, blockchain talent, and ICO marketing subsidiaries dedicated to one goal: Crowdfunding the future of startup businesses.