Fresh from the success of a well-received ICO that raised $10 million, blockchain start up Karma has now announced open access to its peer-to-peer (P2P) lending platform via the use of its native KRM token, which also began trading on CoinLink exchange on January 11th, 2018.
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The official listing on the Korean-based exchange now means that KRM tokens are available to buy, sell or exchange on the open market, through a gateway enabled by the OpenLedger decentralized exchange (DEX). The support from Danish tech innovator OpenLedger comes after a strong demand from the crypto community to enable KRM token trading. KRM is currently tradeable against BTS (BitShares) and US dollar-pegged bitUSD (BITUSD), as well as a multitude of other cryptocurrencies within the DEX, while achieving a daily trading volume of over $10 million.
Karma’s Token Sale
Last year, the Karma token sale launched on November 27th, 2017, making available 1.275 billion (1,275,000,000) KRM tokens. Owing much to the backing of OpenLedger, the crowd sale event sold out in less than three weeks on December 16th, meeting its hard cap total of $10 million. More than 1,000 contributors placed over 4,000 orders averaging $2,500 to buy 1,005,414,013 KRM tokens.
The remainder of over 269 million KRM left unsold will be blocked for future delegates/workers/witness payments. Only 62% of tokens are going to be in free circulation during the first months of operation. A total of 500 million KRM are locked with funders for one year, while some 365 million KRM will be locked for bounties over the period of one to two years.
The Karma Difference
KRM’s unique features are built upon a blockchain utilizing Bitshares Graphene technology, enabling private users across the globe to directly make loans to individuals, start-ups and entrepreneurs without the need for banking institutions or finance intermediaries. This eliminates the often difficult capital or collateral requirements, as well as credit lines, that prevent many entrepreneurial ideas from taking off.
The Karma platform is being developed with the social and economic relationships between people at heart. Thanks to the distributed nature of the platform, geographic location and distance are no longer barriers to P2P relationships. Through the use of Karma, anyone anywhere in the world can use their free capital to provide loans to others with low interest rates.
OpenLedger CEO Ronny Boesing remarked that Karma’s ICO success made it possible to launch platform access and trading of KRM tokens simultaneously, acknowledging the role the Danish firm played as its PR & Marketing partner during its token sale:
“This ICO has delivered as promised and I am personally looking forward to seeing how this project will further evolve in future.”
Karma’s leadership benefits from the vast experience and expertise of an ensemble of personalities. This includes co-founder George Goognin, who holds a PhD in Economy Math Models and also vice-chairs the Russian Parliament Blockchain Experts Chamber, and International CFA-certified financial analyst Artem Laptev, who brings with him a decade of know-how in managing private SME P2P investments, as well as a management portfolio covering financial institutions such as Troika Dialog, Sberbank and Ancor Invest.
How to Withdraw KRM Tokens
OpenLedger users can now transfer KRM tokens between the OpenLedger DEX and the Karma blockchain. KRM can be traded on the OpenLedger DEX in the following markets: BTS, bitCNY, bitUSD, BTC, ETH, DASH, DOGE, EOS, OBITS, and STEEM. For detailed instruction, users can refer to the following documentation in English or Korean
OpenLedger is a decentralized initiative that is working to help ICOs enter the mainstream. Its ecosystem of advertising, trading, talent and marketing subsidiaries aims to fully develop ICOs as the crowdfunding method of modern startups. OpenLedger is Karma’s PR and marketing partner.