How Chinese Blockchain Projects Raise Funds Against the ICO Ban

Initial Coin Offerings (ICOs), the cryptocurrency version of crowdfunding, helped many Chinese blockchain startups raise faster funding this year, but also led to China’s clampdown on ICOs. In today’s series, we will take a glimpse at how Chinese blockchain businesses raise money after crowdfunding platforms were shut down.

Also Read: Reports of Israeli ICO Ban Are Fake News, Entrepreneurs Look to Create ‘Crypto Nation’

Create Project Closed Groups

Measurable Data Token(MDT), a decentralized data exchange ecosystem, will be used to stipulate and reward users sharing their data to enterprises. The MDT team doesn’t use any PR services to reach as many people as possible in the world. Instead, they simply create a Wechat group and send group members an email explaining investment details. To attract investment, they promise 25% bonus to early bird investors and tokens purchased will be unlocked in 30 days when MDT is listed on exchanges. Sound enticing?

As of the time of writing, there are still less than 400 people in the group. An investor told that:

The project is really slow. They have been raising for over two months. Ever since exchanges were shut down, most investors just want to sell tokens they already have on hand. They don’t have much enthusiasm for new projects.

Initial Exchange Offerings

Mixin is an EOS-based real-time communication tool that can transfer coins using end-to-end encryption, according to its official website, the project has a 1,000,000 XIN token cap. Among which, 500,000 XIN will be reserved for the Mixin team. 400,000 XIN will be listed as an XIN/EOS trading pair on BigONE without price limit from November 25 until December 25. Orders will be executed according to price-time priority as received by the Bigone matching engine. The sale will Read More Here