Cofound.it and Ethfinex have joined forces to create a network of liquidity and support for high quality tokens. With a shared vision to support and further the evolution of the Ethereum ecosystem, Cofound.it and Ethfinex will collaborate to reinforce trust between blockchain entrepreneurs and their respective communities.
For Ethfinex users, this collaboration brings with it priority access to a wide selection of high-quality token sales. Users will be able to contribute to token sales through Ethfinex, keeping funds on their exchange wallets. Furthermore, users will be given the ability to “pre-pledge” funds to token sales, guaranteeing crowdsale participation whilst contributing to an equitable distribution of tokens.
The number of crowdsales taking place on the Ethereum blockchain continues to grow. As of August this year the total amount raised through ICOs exceeded 1.5bn USD, and that is showing no signs of slowing down. Crowdfunding is quickly proving itself an incredibly effective use-case of Ethereum, and a huge number of projects are now choosing to go the route of ICOs.
Whilst beneficial, this phenomenon does bring with it a need for more structured evaluation to maintain the high quality standards and integrity of blockchain based projects.
Cofound.it brings with them the expertise required to thoroughly assess and advance high-potential start ups, contributing value, assurance and clarity to this rapidly growing and largely uncertain fundraising ecosystem.
Cofound.it is building a distributed VC ecosystem designed to screen and nurture blockchain start ups, providing industry expertise whilst connecting teams to a network of competent and proven experts. Through this, Cofound.it aims to make ICOs a more viable crowdfunding mechanism for upcoming projects, allowing investors to navigate the token ecosystem in a manner that is more assured. For start-ups, Cofound.it takes on the role of VC, providing teams with the technical, managerial and industry expertise needed to define their strategy, legal structure and crowdsale model.
On top of this, Cofound.it aims to provide investors with a priority pass to the best start-ups of tomorrow — proven start ups, with teams and business models which have been carefully selected, tested and advised by their network of experts.
Ethfinex and Cofound.it will collaborate to combine evaluation and expertise with a community-backed discussion and growth platform, facilitating the development of trusted projects.
Cofound.it will conduct due diligence and ensure that projects receive the resources and support necessary for survival and success. Ethfinex will support these projects by providing a direct crowdsale & investment platform for said projects to receive funding, complementing this with an information platform designed to encourage community review.
“Since CoFound.it work with high quality, legally compliant projects, Ethfinex can offer our users the ability to contribute directly to the trusted projects they support, and subsequently make the tokens immediately available for trading. The due diligence required to uncover real quality in a space growing this fast is extremely difficult, and building these networks of trusted partners is one way we will solve this problem. Another way is through the analysis and discussion section of Ethfinex, where our users can contribute to the continuous vetting of these projects.” commented Will Harborne, Ethfinex Project Lead.
Projects which pass Cofound.it’s rigorous screening & coaching process will be listed on Ethfinex for trading and analysis, with Ethfinex users receiving direct access to a whitelisted portion of the crowdsale itself.It is intended for this collaboration to advance fundamental trust throughout the ICO landscape, spreading expertise and acting as a stamp of legitimacy for upcoming projects.