Traxia, a platform converting invoices to smart contract will run its initial coin offering on Cardano. It will also be the first ever initial coin offering running on Cardano.
Of course, this is a notable milestone for the platform supporters. Well, many are wondering why ADA, the cryptocurrency that oils the Cardano is so liquid yet there is no direct fiat exchange available. It’s definitely the value that Cardano brings to the table.
Why Cardano is Unique
Cardano is a blockchain and smart contract platform that competes with Ethereum. However, instead of leveraging and continuing with the status quo common with most platforms, it seeks to address regulatory concerns.
Talks of regulation continues to flood and directly affect blockchain and ICOs in general but if there is a platform that intends to merge regulation, decentralization and distribution aspects of blockchain, then it will gain some mileage.
If you are looking for such, then that’s Cardano for you. In fact, the platform is so unique and runs of a high degree fault tolerant language, Haskell that brings in some element of flexibility in blockchain projects.
Traxia and Cardano Synergy
Because most ICOs are mostly contracts, the duo, secure architecture of Cardano imports aspects of flexibility, robustness and customization within smart contracts.
This is exactly what suits Traxia. After all, being their flagship project, Cardano through their investment arm, Emurgo believes in Traxia ideas and have a stake in the project. Later, they will use Traxia to migrate from Ethereum to Cardano blockchain setting the ball rolling for other projects to do the same if they want.
At its core, Traxia wants to provide solution in the money settlement sector. We can say the platform is some sort of a liquidity network riding on blockchain and leveraging on smart contracts.
So you know, at any time of the day, up-to $4.3T of unsettled invoices circulates globally. That’s 4X the annual budget of the US and this pioneering blockchain project wants to bring sanity via a time tested platform.
To tackle this, Traxia plans to build this one global B2B finance system leveraging on blockchain where there is conversion of all outstanding invoices into tradable short term smart contracts.
How so you may ask. Well, sellers will simply upload their unpaid invoices via a LiqEase innovative web interface and buyers approve them with their private keys. This in turn set a series of events within the smart contract that brings liquidity.
By doing so, short term liquidity problems most SMEs face will be a thing of the past. Not to mention that such a system is easily adoptable and doesn’t use of cryptocurrencies. At any time, settlements can be done through fiat and a private key is all that is needed for confirmation.
Traxia ICO Details
Those who want to invest can exchange their ETH, BTC or ADA for Traxia utility (TMT) tokens. You can invest a minimum of 0.01 ETH and a maximum of 1000 ETH or its equivalent in BTC or ADA. Their presale is ongoing and ends on April 9, 2018. During this time, investors will get a 20% discount. Thereafter, between April 10 and 17, investors will receive a 10% on all purchases at $0.135 per TMT token. TMT will be available for trading on Trade.io and gatecoin by June 6.
Overly, the success of Traxia will boost ADA and further increase Cardano’s popularity within the blockchain sphere. Regardless of what happens, the attitude of the platform teams is what drives the platform.