After jettisoning (virtually) its entire Binary Options business and giving up its CySEC CIF license, TechFinancials Inc (LON:TECH) announced today that as scheduled, its Blockchain based online diamond exchange CEDEX will launch its ICO token pre-sale event today, March 16, 2018 at 10:00 GMT.
CEDEX has set the sale price of the CEDEX coins at 1 Ether = 900 CEDEX coins. CEDEX has set an ICO hard cap of $40 million. However, with Ethereum trading today at just above $600 and a maximum 50 million tokens to be sold, a token sell-out would add up to a $33 million take for CEDEX.
The pre-sale offering will be conducted over a 10-day period beginning today. The main-sale start date will be dictated by the completion of the pre-sale. If the pre-sale is completed within 24 hours, the main-sale will open at 10:00 GMT tomorrow, March 17. If not, the main-sale will start on April 13. In either scenario, the main-sale will last until the maximum cap (as noted, $40 million or 50 million tokens) is reached or 28 days.
In the pre-sale, participants will receive a 0.3 coin (30%) as a bonus for each coin they purchase.
CEDEX stated that they believe there is “strong demand” from potential participants in the pre-sale event.
The Cedex Exchange will be powered by the Cedex Coin. This ERC-20-compatible token will be traded over the public Ethereum blockchain and will allow users to purchase diamonds on Cedex, transforming their assets into diamonds. Use of the Cedex Coin will be driven by trading volumes generated on the Cedex Exchange and the demand of the diamond ecosystem. The company plans to have the Cedex Coin listed on major exchanges (to be announced) and will be transferable to other cryptocurrencies and fiat currencies. The Cedex Coin will be the only means of payment used on the Cedex Exchange.