Auctus conducted a pre-sale between October 3rd and 6th. The team behind Auctus, who is building a platform for blockchain-powered pension funds, using Ethereum smart contracts, raised a total of 959 ETH (approx. USD 300,000), from 254 distinct investor addresses. Auctus had capped the maximum contribution per investor at 10 ETH and participants had to pre-register, this in an effort to prevent large investors from dominating the pre-sale and giving power to its community.

“Even though we were confident, we were thrilled when the minimum cap was reached already within a few hours. Having raised 240% above minimum target with a max of 10 ETH per contributor, shows the strength of our loyal community” said Felipe Silveira, Lead Developer at Auctus.

Momentum is good for Auctus

Auctus is launching its services at a time when some of the largest retirement service companies are trying to utilize blockchain technology because of its potential to increase efficiency in record keeping, document sharing, transaction settlements, contract execution, and business collaboration.

“We’re very excited about the potential blockchain has for us as a record-keeping system. It’s definitely a more secure record-keeping system than we already have in the industry,” said Roshina Nandra, vice president of Prudential’s retirement innovation lab, according to Bloomberg BNA.

Next steps

Auctus is expected to release a demo version of its Auctus Platform prior to the ICO. The team also stated that it is seeking to announce a pension advisory board, consisting of senior pension fund executives, as well as a strategic ICO partnership in due time.

Screenshot of Auctus Demo Platform

ICO whitelist open

The Auctus ICO whitelist has already been opened. Prospective ICO participants can register at auctus.org

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