CasperLabs to Conduct Tokensale

Startup CasperLabs entered into a partnership with the BitMax exchange to conduct a tokensail in the format of an exchange validation offer (EVO) on March 30. In total, it is planned to attract up to $ 3 million. CoinDesk writes about this.

In 2019, CasperLabs raised $ 14.5 million from Arrington XRP Capital and other investors. Project consultants include Ethereum Foundation researcher Vlad Zamfir.

Initially, the startup was engaged in experiments with the protocol developed by Zamfir for scaling Casper, but subsequently switched to developing its own blockchain. The launch of its main network should take place before the end of the year. Arrington XRP Capital founder Michael Arrington said he was not sure whether his company would want to participate in the token sale before launching the main network. At the same time, he confirmed that, “most likely,” he would become the operator of one of the nodes.

CLX tokens purchased on BitMax will automatically be credited to the accounts for staking after the opening of the main network. To do this, BitMax will also launch its own node. Within 90 days from now, investors will be prohibited from selling tokens.

In addition, the startup is negotiating with some other trading platforms and companies offering their customers a staking service. So far, few have expressed a desire to become node operators, which could damage CasperLabs plan to provide an increased level of decentralization already at the start.

The CasperLabs team has an 8% CLX emission, which will be limited to a three-year vesting period. It is expected that the total capitalization of the project will be about $ 100 million, CoinDesk writes.