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CRC Blockchain Industry Newsletter #1



Starting from this week, CRC will provide newsletters to inform our readers about the recent developments from the Blockchain Industry. As CRC is a China-based investment firm, our newsletter will mainly try to bridge the information gap between the west and China but we will also include the worldwide important developments in the Blockchain Industry. If you are interested in getting our newsletters, please subscribe by using the link below the page.


1) Bitfinex Exchange is planning to issue their own LEO token through an IEO to raise 1 billion USD



Highlights from the IEO paper:


- Tokens will be used to reduced trading fees (Up to 25%) and borrow/lend fees (up to 5%) (Similar to BNB token)

- If Bitfinex can manage to get their $850mill crypto capital funds back, 95% of these funds will be used to buy and burn LEO

- Bitfinex got hacked in 2016 and 120,000 BTC has been stolen, if these funds recovered, 80% will be used to buy and burn LEO

- 27% of gross revenues from Bitfinex operations also used to buy back LEO on a monthly basis (Bitfinex’s profit in 2018 was $404 million)

- Bitfinex’s exchange tokens, dubbed LEO, would first be offered to private investors, then subsequently opened to the public after May 10 if there is any allocation left.


Effects: Assuming the tokens start trading on their IEO price, that would give LEO tokens a market cap of $1 billion, which makes them only second to Binance in the category of platform tokens. There is no lock-up process for the tokens being sold, and LEO tokens will start trading on Bitfinex immediately. The success of token depends on many key events such as recovery of hacked bitcoins and frozen funds. Considering the recent events related to Tether and Bitfinex, it is safe to say that this IEO is controversial and risky.


2) Gate.IO has completed their 4th IEO last Saturday and raised 2,4 Million USD



The Gate.IO Startup MovieBloc (MBL) Token Sale Result is as follows:

- MBL Startup Sale Amount: 2,400,000,000 - Total value of orders (in USDT): 35,566,087 - Total value of qualified orders (in USDT): 35,239,087 - Number of orders: 15,420 - Number of Qualified orders: 15,249 - Percentage of qualified orders: 98.891 % - Percentage of succeeded purchases: 99.080 % - Number of participants: 15,420 - Number of qualified participants: 15,249


Effects: Gate.IO is doing another IEO almost every other week. If their data is correct, they are also successful at doing it. CRC will publish a detailed analysis of the IEO scene this week, we will provide more data in there. Keep following.


3) Kucoin Announced the Details of their next IEO for Trias(TRY) token



Spotlight Token Sale Details:


Token Name: Trias (TRY)

Total Token Supply: 10,000,000,000 TRY

Initial Circulating Supply: 6.24% of Total Token Supply

Spotlight Allocation: 400,000,000 TRY (4% of total token supply)

Token Supported: KuCoin Shares (KCS) only

Price Ratio: 1 TRY = 0.004 USD (The actual price ratio of KCS will be announced on the day of the Token Sale)

Token Sale Format: Lottery

Allocation Per Winning User: 500 USD (125,000 TRY)

Public Sale Allocation: 200,000,000 TRY (2% of total token supply)

Private Sale Allocation: 0% of total token supply

Seed Sale Allocation: 8% of total token supply

Seed Sale Token Price: 1 TRY = 0.004 USD (Based on total token supply)

Seed Sale Valuation: 40,000,000 USD

Seed Sale Monthly Unlock Program: 3% of seed sale (24,000,000 TRY) will be unlocked before listing, and the remainder will be released over the next 9 months on a month to month basis.

TRY Official Website: https://www.trias.one

TRY Whitepaper: https://www.trias.one/whitepaper


Important Note:


- Nothing written in CRC newsletter is legal or investment advice and should not be taken as such.


- CRC does not make any guarantee or other promise as to any results that may be obtained from using our content.


About CRC:


- CRC is a blockchain investment bank founded by senior executives from top investment institutions in China


- We are dedicated to providing professional, international and institutional investment banking services to blockchain entrepreneurs.


- CRC has received a strategic investment from Huobi Global, JLAB, Gobi VC, Cloudwise and U-nobleman, etc.


- For more information, please visit: crc.capital




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