As a Chinese start-UPS bypass the ban ICO

Initial placement of tokens (ICO) is a cryptocurrency version of crowdfunding that has helped many Chinese start-UPS this year to quickly raise funds, but a huge amount of fraudulent projects had led to the ban
the holding of ICO in the country. However, the Chinese company that doesn’t stop – they continue to raise funds even after the closure of the crowdfunding platforms.

Closed group projects

Measurable Data Token (MDT), decentralised data exchange environment will be used to encourage users that transmit their data to companies. Team MDT does not use PR tools to reach as many people in the world. Instead, it just creates a group on Wechat and sends team members a message with the details of the project. To attract investment, they promise 25% bonus to early investors, as well as the unlock token purchased in 30 days when the MDT will be listed on the stock exchanges.

At the time of writing we were a group of about 400 people. One of the investors said:

«The project is very slow. They are trying to raise funds for more than two months. Since the stock exchange was closed, most investors just want to sell tokens, which they already have. They have no great enthusiasm for new projects.»

Initial placement exchanges

Mixin is a tool to exchange data in real time on the basis of EOS, which can transfer coins using the end-to-end encryption. According to its official website, the project has a limit in 1 000 000 tokens XIN.

Of these, 500,000 XIN will be reserved for commands Mixin. 400 000 XIN will be listed as a trading pair XIN/EOS on BigONE
without limiting the prices from 25 November to 25 December. Orders will be executed in accordance with price priority and time received, with the mechanism of reconciliation BigONE. Investors jokingly call this type of fundraising «the primary placement exchanges» (IEO), which combines sales of tokens, distribution of tokens and token listing on the stock exchanges.

The remaining 100 000 XIN will be sold to accredited users after 25 Dec for the lowest price on Bigone. To become an accredited user, you need to register on the platform, tying the phone number to which you will receive your invitation code and a link. This link can be sent to friends, and if somebody registers with your invitation code you are invited and receive a fixed share of the quota of accredited users. Further invited will also bring some profit to the first user until level 7.

That’s why invitations with links to register on Mixin filled in all the group’s Wechat over the past two days. Team members complain that this kind of marketing reminds them about the pyramid schemes, especially given that the project has not published any information about the development team and roadmap and Whitepaper.

Whether or ICO IEO, some projects exclude such approaches in an attempt to obtain larger funding. For example, Nerthus — blockcanvas a startup from Shenzhen, which uses technology Directed Acyclic Graph (DAG) to create a universal platform programming of the block chain.

CEO of Erica Jong (Erica Chen) explained that they are looking for support from traditional investors.

«These investors know little about the blockchain. We need to spend a lot of time to enlighten them. And they always ask when the project will be launched, and want to control its development,» — said Erica.

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