2018 was a year of a virtual crash in ICO fundraising for companies trying to raise funds for their projects through initial token sales. Also, many other companies who were lucky to raise funds just prior to the cryptocurrency valuations crash n 2018 were too afraid to go to exchange in fear of their own token crashing. This left a void that needed filling as a bridge solution to the previous mentioned issues.

SID Limited was no exception as it had started their token sale right in the middle of all this market turbulence. Whereas in the early years up and till end 2017 many projects with no experienced team, no intellectual property, no product and in some cases only with an idea on a whitepaper raised absolutely outrageously high amounts of funding. In 2018 it was the opposite, the crypto and blockchain fundraising market virtually rejected most projects, even those with all the right things, even having a product was a tough sell to raise even the smallest amount required by a project.

It is amazing how founders and blockchain enthusiasts become even more creative in such current hard times, token swaps were in fashion to spread risk, hoping that one of the companies with whom was swapped would even make it to exchange.

SID Chairman, Jose Merino: “SID believes that a different type of token swap was needed alongside with the traditional one, where end-users themselves would not so much swap but be allowed to buy SID Tokens during our token sale accepting a few selected 3rd party tokens as crypto payment currency to buy our token alongside the traditional BTC, ETH, XLM etc. Those tokens from other companies that SID accepts as crypto payment currency are intended as a mid to long term play to be used as potential source of future funding.”

“The more immediate to short term fundraising than needed also a different approach, for which SID decided to combine two things, remove the fear of not going to exchange from potential contributors to our project with adding fundraising directly through crypto exchanges where the listing will be on and announce both at the same time. This resulted in the announcement of an Initial Exchange Offering (IEO) of the SID Token being sold now on the crypto exchange exMarkets.com and a tentative listing date to list on 2 May 2019.”

Moreover, an IEO immediately grants an extra audience that may become interested in SID, namely the native users of the IEO platform. Last but not least, an IEO provides some assurance to the retail contributors that the utility tokens they’re buying will have immediately a place to be traded on that same crypto exchange. After all the SID Token is all about trading shared internet megabytes for tokens between nearby SID Android App users.

SIDT Initial Exchange Offering on exMarkets LaunchPad symbolically went live on the first day of Spring and will continue until the end of March. SIDT tokens on ExMarkets can be bought both through Ethereum terminal or Bitcoin terminal and currently goes for about 0.008 EUR apiece.

We see the demand for Initial Exchange Offerings growing very fast. It’s a way better vehicle and more efficient than traditional ICOs, at least that’s the general market sentiment at the time.” – commented Dylan Sharkey, Head of Sales at CoinStruction liquidity framework and ExMarkets cryptocurrency exchange platform.

Last month ExMarkets and the CoinStruction ecosystem was granted 2 crypto services licenses to operate a fiat-crypto conversions and provide digital asset storage services.

The SID project on ExMarkets immediately stands out from the crowd because they’re at an advanced stage of development. SID already has a working app which is built on a patent-approved technology and available for download on Google Play and the Apple Store. But that is not all, SID has already closed multiple deals with companies of the likes of  Dunkin’ Donuts Spain, called Dunkin´ Coffee, with UniTaxi’s fleet of 800 plus cars and just recently confirmed a partnership with MyDopeCard.com a banking services company from Ghana and AIAR a mobile-learning company from Singapore to increase local internet penetration and therefore, to serve the unbanked and increase access to education to the biggest encyclopedia in the world THE INTERNET.

So, come on and support SID on the exchange ExMarkets.com and sign up today for your chance to participate in the SID Initial Exchange Offering and help do good in the world through the SID technology.

If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

Pin It on Pinterest

Share This!

Share this post with your friends.