Cryptocurrency exchange Mandala has completed the main phase of krautsalat, reaching hardcap and collecting 13.5 million dollars. It has sold over 260 million tokens MDX.
Krausel was conducted in accordance with the Reg S rule established by the SEC the Commission on securities and stock exchanges of the USA. To participate allowed investors from all countries of the world except the United States.
During licensee, which began on 1 June this year, buyers were available for 65% of total MDX. The remaining 35% of the tokens will be distributed among the developers and founders of Mandala (they get 20%) and project advisors (5%). Another 10% of the tokens will go to the reserve, which will act as a buffer in case of unforeseen expenses, for example, licensing, changes in tax laws and other costs.
After ICO Nate Flanders, co-founder and CEO of Mandala, said: «the Successful completion of krautsalat means that we can start withdrawing our platform to the market. The release date of the alpha and beta versions, we plan to announce in the near future.»
MDX tokens are a key component of the platform’s work Mandala. Owners can use tokens to get a discount on the exchange fee (80%) — that is, to lower their own fee for transactions. Tokens also offer traders access special premium features of the exchange: the automated trading bots, P2P marketplace, alert systems, sending important news from the world of cryptocurrency, and social platform MDX Social. The exchange also provides analytical tools that help traders make informed decisions about buying and selling assets.
However, as noted in the Mandala, their goal is not just to provide traders useful tools for trading: «Mandala seeks not only to simplify the exchange of digital assets for users, but also to protect their money from hackers».
For this Mandala signed a partnership agreement with Modulus involved in the development of engines for trading platforms. The solution Modulus capable of processing over 10 million transactions per second, providing them with security through encryption, DDoS defense systems, and machine learning algorithms that detect suspicious activity on the exchange.
«We opted on the engine panel as it was designed to work with compute-intensive server applications and have already proved themselves in many industries, from Finance to technology. The reliability of the Modulus was estimated by such companies and organizations as NASA, NASDAQ, Microsoft and Goldman Sachs,» said the CEO of Mandala Nate Flanders.
Part of the vision Mandala asset protection users are plans for the development and production of hardware wallet. It is a device that will allow you to store the keys to e-wallets offline. The developers plan to integrate the wallet with the exchange so that traders can confirm trades and execute orders, using the recognition function of the fingerprint. Such a decision would create an additional level of security, implementing three-factor authentication 3FA.
Read more about the exchange and the plans of developers, visit the official website and blog.