FANTOM Sells $39.8m in Tokens, Successfully Completes Token Sale

COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")

 

FANTOM Sells $39.8m in Tokens, Successfully Completes Token Sale

 

London, UK, June 27 2018 Coinsilium Group Limited (NEX:COIN), the blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies, is pleased to announce that its advisory client FANTOM Foundation ('FANTOM') has successfully completed their token sale, selling the maximum amount of tokens available in a single day to reach a total of US$39.8m.

FANTOM is the world’s first Directed Acyclic Graph (“DAG”) - based Smart Contract platform which aims to solve the scalability issues surrounding existing distributed ledger technology. The platform distinguishes itself from traditional block ledger-based storage infrastructure by employing an improved version of existing DAG-based protocols. The FANTOM platform adopts a new protocol known as Lachesis Protocol to maintain consensus. Applications built on top of the FANTOM OPERA Chain enjoy instant transactions and near zero transaction costs for all users. The transaction throughput capability of the FANTOM protocol offers a potentially significant improvement on today's leading protocols.

FANTOM’s Korea-based team has already proven a commitment to developing commercial use cases for its technology, demonstrated by the securing of partnerships with key players in a wide array of industries, including food technology, telecom, banking and financial services, insurance, electricity, and real estate sectors. Most notably, the project has announced a partnership with the Korea Food-Tech Association — an organisation with over 90 food tech member companies valued at approximately 200 trillion won (USD179B equiv.). FANTOM and Industry giants Oracle and SBCK (a subsidiary of SoftBank Korea) have also engaged into technical partnerships.

Commenting on the success of their token sale and opportunities on the horizon, Coinsilium CEO Eddy Travia explained; "The success of FANTOM's public token sale in a short time-frame illustrates the high level of interest in this project from the investment and blockchain communities globally. The team must now demonstrate the value of their protocol, but we see indications that FANTOM's technology is being considered very seriously, both at the enterprise and government levels."

About FANTOM

FANTOM is the world’s first DAG-based Smart Contract platform which aims to solve the scalability issues surrounding existing distributed ledger technology. The FANTOM platform adopts a new protocol known as Lachesis Protocol to maintain consensus. Applications built on top of the FANTOM OPERA Chain enjoy instant transactions and near zero transaction costs for all users.

For further information about FANTOM please visit: https://www.fantom.foundation/

The Directors of Coinsilium Group Limited take responsibility for this announcement.

 

For further information, please contact:


Malcolm Palle, Executive Chairman +44 (0) 7785 381089
Coinsilium Group Limited


Eddy Travia, CEO +44 (0) 20 3889 4312
Coinsilium Group Limited

www.coinsilium.com 

Harry Chathli / Ana Ribeiro / Alexis Gore +44 (0) 207 618 9100
Luther Pendragon Ltd
(Media Relations)

Guy Miller / Mark Anwyl +44 (0) 207 469 0930
Peterhouse Corporate Finance Limited
(NEX Exchange Corporate Adviser)

Nick Emerson +44 (0) 1483 413 500
SI Capital Limited
(Broker)

Notes to Editor

About Coinsilium

Coinsilium is a blockchain venture builder, advisor and investor that finances and manages the development of early-stage blockchain technology companies. It does this through its consortium of top-tier investors, industry thought leaders and executive managers.  Based in London, Coinsilium’s focus is on driving innovation in fintech and blockchain technologies, enabling businesses to take advantage of growth opportunities. Coinsilium also provides advisory services to companies planning token generation events.

Coinsilium shares are traded on NEX Exchange Growth Market, the primary market for unlisted securities operated by NEX Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000.

For further information about Coinsilium please visit http://www.coinsilium.com