Following its successful TGE in November last year, Karma, a global decentralized, peer-to-peer, lending platform, has swiftly become one of the most traded offering with daily trading volume of over $10 million.
Karma p2p, cross border lending platform continues building a global economy-of-trust that allows users to borrow funds directly from borrowers using cryptoassests and tokens for collateral. This economy has found its home on both successful exchange platforms – OpenLedger, Danish decentralized exchange, and Coinlink, promising Korean-based exchange.
Ronny Boesing, the CEO of OpenLedger, has commented to the launch:
“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. I am personally looking forward to seeing how this project will further evolve in future.”
As it was announced yesterday, Karma’s KRM token became available for trading on both exchange platforms after the overwhelming demand from the community. Karma’s growing success on two different continents demonstrates a great step forward to the immense global community support.
Developed and built on BitShares’ ground-breaking Graphene blockchain technology, KRM began its token sale on November 27th, offering 1.275 billion tokens to the public, hard-capped at $10m. Less than a month later, the project was successfully funded, facilitating the development of a truly disruptive lending platform for private parties all over the world and offering them an opportunity to directly lend money to entrepreneurs without any necessity for intermediaries.
Now the platform can already boast to have over 1000 token holders and over 4000 completed orders. All in all 1,005,414,013 tokens have been successfully sold. The unsold 269,585,987 tokens were blocked for the future delegates/workers/witness payments and is currently inaccessible. Only 62% of total token supply will be in circulation for the first months.
Karma is being developed with strong emphasis on the creation of socio-economic relationships between the interested parties, regardless of their geographic location. The platform allows its users to invest in promising projects, created in countries with strong economy.
Karma ecosystem’s users are now able to influence the exchange of values. They can serve as a decentralized escrow, engage new members, provide transactions, scores and reviews of peers, analytics, currency exchange and hedging, underwriting, insurance, and legal services. Community members are rewarded with KRM tokens and reputation points for every useful action on the network.
Co-founded by George Goognin, Vice-chairman of the Russian Parliament Blockchain Experts Chamber and Artem Laptev, who has previously managed private p2p investment funds for small and medium enterprises for over a decade, Karma is empowering and incentivizing trust-based communities.
OpenLedger users can now transfer KRM tokens between the OpenLedger DEX and the Karma blockchain. KRM can be traded on the OpenLedger DEX in the following markets: BTS, bitCNY, bitUSD, BTC, ETH, DASH, DOGE, EOS, OBITS, and STEEM.