AMSTERDAM, July 28, 2021 (GLOBE NEWSWIRE) — CryptoArena recently announced its upcoming IDO being held Wednesday, August 4th, 2021, at 2:00 PM UTC.
Partnering with CryptoArena for the Initial DEX Offering is TosLabs, the project incubator platform of TosDis. “We’re really looking forward to this IDO after two successful presale rounds for our CATS utility tokens, and we’re excited to partner with a great project like TosLabs for this major milestone for our project,” said CryptoArena COO, Leonie Forsman.
CryptoArena aims to raise around $300,000 during the IDO, where their CATS tokens will be priced at 30,000 CATS per 1 ETH. No KYC will be required, but those wishing to participate will need to meet certain requirements and fill out a form to be whitelisted for the event.
CATS use cases will include, among others, powering CryptoArena’s GAS Tracker, their NFT Arena Trading Card Game, and most importantly can be used to buy multipliers for Glory Points, which earn users a portion of revenue from their unique S-DEX Platform.
“There is nothing around quite like our ‘self-decentralizing’ exchange (S-DEX). We’re building this platform to be a globally compliant, institutional-grade crypto exchange and securities platform, but we’re also building it to be fully public-benefit infrastructure,” said CryptoArena CEO, Lorenzo Ferrari. “CryptoArena distributes increasing amounts of platform-generated net revenue to users based on the points each has earned through activity. This all happens automatically through smart contracts and, over the course of time, the proportion distributed increases all the way to 100%.”
TosDis is a permissionless One-Stop DeFi Interoperable platform that offers white-label solutions, allowing projects to offer services such as staking, yield farming, and liquidity staking to their users affordably and securely. Furthermore, TosLabs, the incubator protocol of TosDis, aims to give upcoming and innovative projects the smoothest experience to take their project to the next level.
CryptoArena is building a crypto exchange and regulated securities broker that rewards active users with platform-generated net revenue through a game-like points scoring system. More points = bigger share. Rewards distributed will start at 25% of net revenue and increase over time all the way to 100% as a consequence of a unique “self-decentralization process.” This process will use smart contracts to automatically distribute rewards and transition their holding entity into fully self-sustained, non-profit, public benefit infrastructure.