BTSE announced the launch of the first token sale for an exchange on Blockstream’s Liquid Network.
This is the first issuance of tokens of its kind on Liquid, the Bitcoin-based sidechain developed by Blockstream specifically for traders and exchanges.
The BTSE exchange\ is a member of the Liquid Network, along with other crypto exchanges such as Bitfinex, BitMEX, Huobi, OKcoin, etc..
Information about the token sale
The sale of the BTSE token will open to the public on March 5th, 2020 and it will be listed on the same exchange within two hours of the completion of the public token sale.
The initial price will be $2, the minimum purchase price will be 1 token and the maximum purchase price will be 25,000 tokens for each verified account. In total, one million tokens will be issued on the market with this token sale.
The token will be tradable on the BTSE Exchange multi-currency spot market, which supports ten fiat currencies and seven cryptocurrencies, and will offer reduced trading fees, increased limits, discounts for certain services, a higher benchmark bonus, access to special programs and campaigns, the ability to participate in staking programs, and payment for additional services within the BTSE ecosystem.
BTSE is a company specializing in financial technologies, and uses Bitcoin and cryptocurrencies to develop solutions promoting financial freedom. Among other things, it offers spot and derivative trading, OTC and lending, and since the beginning of the year, the daily trading volume on BTSE futures markets has increased from $40 million to $250 million.
BTSE CEO Jonathan Leong said:
We’ve recently completed our private sale round thanks to the participation of investors such as FBG Capital, Lemniscap, CMS Holdings, Taureon Capital, GBCI Ventures and BCB Blockchain. We’ve chosen to launch BTSE’s exchange token on the Liquid Network because it facilitates fast transaction times allowing for rapid inter-exchange settlement and lower congestion. It also supports Confidential Transactions, an upgrade to the privacy of assets transacted on the sidechain”.
Blockstream CEO Adam Back commented:
“We are excited to see token issuance on the Liquid Network taking off with BTSE launching their native exchange token on the platform. For an exchange token, issuance on Liquid makes a lot of sense as Liquid’s fast transactions and inter-exchange settlement network provide the perfect environment for traders. The BTSE token can also be stored on Blockstream Green, giving users the additional option to store their tokens off exchange if they want”.