Utorg became the first cryptocurrency exchange in Europe where you can trade the so-called Future Tokens – not yet issued tokens of projects that have passed the ICO. To this end, Utorg launched a special section of the IOU Desk.
Utorg Exchange has launched the IOU Desk, where you can trade tokenized obligations of projects that have not yet been listed. The first such project was Perlin, awaiting IEO at Binance.
What is an IOU Desk
IOU (I Owe You) is a tool familiar to those who have actively invested in ICOs 2017-2018. This is the collective name of the various documents that formalized the obligations of the founders to investors. The most common type of IOU document is SAFT (Simple Agreement for Future Tokens), by analogy with the SAFE (Simple Agreement for Future Equity), which is popular in classical venture financing.
The funds have accumulated a lot of such IOUs. And often they no longer fit investment fund strategies. Utorg buys from funds such IOU of promising projects, tokenizes them and puts them up for auction. After purchasing internal exchange tokens for a specific asset, the user sees them in his personal account.
The exchange is not responsible for the activities of the projects, but guarantees that when the real project tokens are issued and transferred to the exchange in exchange for SAFT, they will be distributed among those users who will have IOU tokens on the balance for this project.
Buy Perlin before IEO at Binance
Exchange experts carefully select projects before putting them on the IOU Desk – they study the history of each project and the current state of affairs in it. The roadmaps of such projects are being implemented on time, the community is growing, there is a market interest in their products and solutions. But tokens are still not issued, or are not listed.
The Utorg team promises to delight users with the hottest offers. And the first project on the new site was Perlin.
The IOU Perlin package, owned by the Advance.fund investment fund, has been put up for auction. The fund is a strategic partner of the Utorg exchange. The fund invested in Perlin during one of the earliest rounds. The deal was closed on June 27, 2018. According to SAFT, 1 292 202 tokens were acquired.
Perlin is a highly scalable smart contract PoS platform that delivers more than 31,000 TPS throughput. This is the fastest, safest and most scalable blockchain solution of all.
Perlin clearly follows the roadmap – it released a working prototype back in November 2018. During 2019, the team developed Wavelet and the Clarify and Certify trading applications.
Perlin is currently focusing on the international trading market with a volume of $ 11 trillion. The network will be developed jointly with international chambers of commerce and a number of large concerns. This will quickly scale the project, which covers more than 150 countries and 40 thousand companies.
Recently, Binance Launchpad became interested in the Perlin project – the exchange announced the initial exchange offering on August 8. Based on the results of this IEO, the price of the token can grow many times over.
What is known about the Utorg exchange
Utorg.io is a fairly young project launched by experienced representatives of the crypto industry. You can learn more about it here. Then the exchange just went into beta testing. It is still ongoing and you can participate in it to get six months of work without commissions and other bonuses.
Since then, the exchange has introduced new features. The interface has been improved according to user comments and pairs with USDT have been added. Although there are still a few cryptocurrencies, there is everything you need for crypto fiat crypto operations. In particular, the exchange manages to maintain the best rate for selling bitcoin for rubles, which is confirmed by monitoring bitcoin exchange rates on exchanges, taking into account all Truebtc.io commissions. Utorg steadily holds the first line at the Bitcoin selling rate with the withdrawal of rubles to the cards of Russian banks. This is ensured by active work with exchangers, which are convenient to buy BTC here by API. In addition, commissions on the withdrawal of rubles on Visa and Mastercard on Utorg are very low, since Utorg offers the payment system favorable conditions for crypto-processing.