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Past-ICO Review: Alternative Facts and Truths Abound

  • Eric Eissler
    ⭐ Features

    ICO or token sale, call it what you want but something happened and a company made some money, but when and why are there conflicting facts?


Past-ICO Review: Alternative Facts and Truths Abound
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Taking the games from the corporations and putting them back into the hands of the gamers, is what Refereum is all about. However, there seems to be something amiss. According to ICODrops, the “token sale” ended on Feb. 8 2018, but when checking out another source, dated Aug. 25, 2018, it accuses Refereum of not holding an ICO as promised. Checking out the website, the first thing displayed is “the Refereum token sale is complete!” So what is going on here? U.Today reached out for comment on this matter of why the media has so many conflicting facts, or more in line with the times: alternative facts. However, when the pressure is on and someone is getting on to the fact that something is not right, “no comment” is given. The equivalent to pleading the fifth in a US court; fishy.


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Finance

According to ICOdrops, which is generally a very reliable source, Refereum raised $32.2 mln during its token sale, which ended on Feb. 8, 2018. Which is funny because according to another source which has quoted Refereum as saying the following:

…after taking into consideration advice and feedback from our advisors and legal teams, we made the decision to complete the Refereum Utility Token Sale in its entirety through the private pre-sale process. We are honored to announce Refereum met its target sales quota ahead of the formerly scheduled public sale, but recognize that there are many who will be disappointed with this news– despite the good reasons for conducting the sale this way.

Well, to finish out the finance on this utility token, you are not missing much: Market entrance on March 1: $0.0219

Current price: $0.0038

Bottom line: Rubbish

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Take a look at the Team

Dylan Jones- CEO & Founder

A game designer from down under, Jones has worked at many predominant game makers and has all the right background to get into the blockchain based gaming industry and using it for something good.

Alistair Doulin- CTO

Alistair is a game industry veteran who has worked on multiple high profile game and engine projects.

Sloane Earl- Business Development

Earl has a background in traditional and digital concept art and a strong interest in the gaming industry. She also focuses on Women in Blockchain initiatives as co-founder of Team Block Society, and co-founder of The Wild Gypsy Tour, women's motorcycle event at The Buffalo Chip.

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Tech Tech

By cutting the marketing middleman, Refereum directly rewards influencers and gamers for promoting and playing video games. Refereum is working with Twitch, a prominent influencer gaming platform, Unity, the world's most used game engine and Ambisafe, which has secured cryptocurrency projects like Tether and Chronobank.

Final word

While it appears to be some pretty cool ideas to get the games back into the hands of the gamers and away from the corporations, which according to Jones, make more and more money and provide less and less of a gaming experience and even less profits with the developers and designers, the general supporters are not in Refereum’s corner and there seems to be a general dislike in the media.

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Cover image via u.today
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Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?

  • Yuri Molchan
    ⭐ Features

    Stablecoins show hardly any volatility compared to Bitcoin and altcoins, many are hoping that they will be able to bridge new crypto economy and regular fiat money


Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?
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Bitcoin, the father cryptocurrency, emerged in hope that it will remove all intermediaries in electronic commerce that cut off their share of payments. BTC was perceived as a P2P way to replace fiat cash in an electronic format, which would enable one party to pay another without any financial institution or payment platform which would demand its share of a transaction as a reward for its services.

What is wrong with Bitcoin

For quite a while Bitcoin was performing the way the crypto community expected. But the situation changed later – BTC rate became weaker, thus bringing down its financial and economic reliability, when it gets to be used as a regular means of payment.


You cannot have a currency that would cost like a British castle today, a gram of gold – tomorrow and a pack of French fries the day after.

At that point practical fintech minds came up with an idea of creating something which would become a breakthrough in the universe of crypto – a so-called stablecoin.

Will stablecoins solve the volatility problem?

Technically, stablecoins are protected from the volatility roller-coaster that Bitcoin and other cryptos love to ride. They are programmed to keep their prices stable and investors now are largely attracted to this new type of digital assets.

Stablecoin does not show any volatility in its monetary value, since it has a fixed connection to an asset it is pegged to. The major goal of using stablecoins is taking the best from decentralized crypto coins and combining it with a constant value. Thanks to it, stablecoins can be used as a reliable means of trade.

Asset-pegged stablecoins

Asset-backed ones get their value from an asset as can be understood from the name. An asset provides the necessary value to a coin, as well as the necessary legitimacy.

A great example of an asset-pegged stablecoin is Tether (USDT). In spite of a series of scandals at the end of last year, it remains the most popular stablecoin in the crypto market.

Recently, it has partnered with the Tron Foundation to launch a Tron-based stablecoin.

Other examples are TrueUSD (TUSD), USD Coin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard (PAX). They are all pegged to the USD.

Crypto-backed stablecoins

Some digital coins work in a similar way to fiat-backed ones, however, they are pegged to collateral crypto. That means that crypto assets that ensure the value of such stablecoins are stored in a wallet similar to escrow.

A good example of a crypto-pegged token is Maker, which is ranked 16 on CMC.

Algorithmic stablecoins

Even though, stablecoin can be interesting at first thought but the way they are built goes against the principle of decentralization that crypto coins have as a foundation. Thus, many crypto fans and evangelists are positive that stablecoins must be linked towards not a centralized asset but a computer algorithm which takes value from a balance between supply and demand.

Basis is now considered the most promising algorithmic stablecoin of all.

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Can stablecoin ensure smooth future for the crypto industry?

The primary goal of all crypto assets was and remains to come up with virtual asset that would be liquid enough and not vulnerable to market volatility. From this point of view, stablecoins are a dream of all crypto fans and evangelists of a decentralized economy.

Apart from the potential to conduct crypto transactions smoothly, experts believe it can bridge the two worlds – fiat and crypto, bringing them a mutually beneficial coexistence. However, that may take time.

Cover image via u.today
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