Categories: CryptoNews

Kibbo Lotto to Repay Investor Faith with $13 Mln Distribution Plan

Kibbo Lotto, an international decentralized Lotto powered by Blockchain and Ethereum smart contracts, is repaying the faith to their investors by launching a $13 mln distribution plan. Over 4500 partners had already received distribution money and it’s still on.

Disclosure: This is a Sponsored Article

While still in full development, Kibbo states that they are in a position where they make this payment to investors and not jeopardize the continued process. It comes because of the personal consideration of the team from the Kibo’s marketing fund.

Distributed funds

Kibo are looking to be first in ICOs to distribute funds to their partners, including Kibo Platform owners, with their plan to distribute $13 mln between holders of tokens and platforms.

Kivo will be making it worthwhile too as they plan to distribute in an amount of investments in US dollars at the time of the ICO with an additional double-rate charge.

“For example, this means that if you spent $500 to purchase tokens or platform, then, according to the distribution plan, you will be credited with $1,000,” a statement read on their site.

Related Post

“The distribution plan does not in any way affect the further development of Kibo. As we already mentioned earlier, large team is working on the project, and in the coming months we will publish a lot of news.”

For their token distribution, in order to keep up with the surging ETH

price, Kibo have decided to fix the rate for distribution.

A new solution

Additionally, the issues of scalability are nothing new, and will continue to cause problems with the huge influx of users and innovators, but this is something

Kibo is looking to tackle head on as their team has designed a new solution that in preliminary tests allowed to significantly reduce gas costs of Kibo contracts, which can become a solution that will allow the platform to launch in the current network conditions and accept the first users.

The hope is that while the scalability issue continues on the Ethereum chain, Kibo’s proactive approach could see them complete their code refactoring by the end of this year, or early next.

The results of this work would lead them to seek to launch the first version of Kibo, which will be able to accept a

limited number of users, in the first quarter of 2018.

Kibo are at least trying to make a plan with the limitations that they face, but they also make note that a full global launch is still a while away as they will need the network’s issues to be solved organically.

Guest

The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

Share
Published by
Guest

Recent Posts

TRX Price Prediction: Tron Network Fee Cut to Spark New ATH?

Back into Spotlight: Tron Network Fee Cut Could Push TRX to ATH, But This DeFi…

8 hours ago

Altcoin Alert: Crypto Market Cap Breaches Key Level Hinting at an 8000x Rally for this Shiba Inu Killer

Shiba Inu (SHIB) gave enormous returns in 2021, making many early holders millionaires. After the…

12 hours ago

XRP Crash? XRP Falls Below $0.5 Resistance Level as Next Gen Altcoin JetBolt Takes Over

Spooky season might be over but doom is still looming as Ripple’s XRP falls below…

15 hours ago

This New Exchange Token Is Poised for a Price Surge Alongside Cardano and Avalanche – Analysts Predict Huge Gains This November

Three promising altcoins are causing a stir among investors this November: Avalanche (AVAX), Cardano (ADA),…

15 hours ago

With Dogecoin Dipping and TRON Holding, Is Lunex the Hottest Crypto Now?  

Everyone knows what the hottest crypto can do. When it was so hot it was…

15 hours ago

Tron Fees To Be Cut In Half Through Proposal 95, Cutoshi Surpasses $600k As TRX Investors Join CUTO Presale

The Tron network has witnessed incredible growth in several areas, especially in its adoption, which…

16 hours ago