LUGANO, Switzerland, Oct 24, 2018 /PRNewswire/ --
RigoBlock, the decentralized asset management protocol, has today announced that it will be launching the public token sale of the GRG token. The blockchain based asset management protocol has opened its whitelist; a way for users to show their interest in contributing to the project and to expedite the token sale process.
The token sale will be carried out by Rigo Investment Limited, RigoBlock's parent company operating out of Lugano, Switzerland. The sale will be carried out in a regulated and compliant manner using Know Your Customer (KYC) and Anti-Money Laundering (AML) processes. Contributions for the upcoming RigoBlock ICO will need to be made in ETH, via a safe and secure widget provided by TokenMarket.
RigoBlock's total hard cap for the ICO sale, both public and private, is set at $10m USD for 15% of GRG tokens from the total token supply. In total 1,500,000 GRG tokens are available in the sale. These tokens are required for users to access the RigoBlock portal and to participate in the RigoBlock's Proof of Performance incentives mechanism.
The GRG token is the world's first utility token for asset management. It is used as the basis of a rewards mechanism for specialized operators within the RigoBlock ecosystem, as they recieve GRGs based on the value and the performance of a specific token pool. This allows token pools to be operated without fees for an alternative and fairer rewards mechanism.
RigoBlock intends to use the proceeds for general administration and operating expenses of the company. Furthermore the funds will help evolve the RigoBlock protocol and grow the ecosystem of developers and platforms building applications for asset management.
Details of the full overview of token metrics and a thorough explanation of the GRG token's utility within the network are available at https://rigoblock.com/.
To register for the limited availability whitelist visit https://tokenmarket.net/preregistration/rigoblock/preliminary.
RigoBlock is a blockchain protocol for decentralized asset management. It is an abstracted and generalized standard, built and deployed on the Ethereum public blockchain and portable to multiple blockchains, which streamlines the creation and management of complex applications for asset management. The RigoBlock protocol offers new types of incentives by aligning interests through the Proof-of-Performance algorithm, eliminating traditional management and performance fees. RigoBlock graduated from the "Blockchain Business Solution" accelerator program by H-Farm in cooperation with Deutsche Bank. RigoBlock is a member of the Enterprise Ethereum Alliance and Cryptovalley Association. https://rigoblock.com