Lisk Raises Around $6 Million in ICO

News and Analysis

Cryptoplatform Lisk has announced the completion of initial coin offering having raised 14,009 BTC and in excess of 80 million ICR in four weeks. This amount is roughly equal to $5.9 million at current exchange rate.

“During the ICO, we collected approximately 14,009 BTC and 80,742,575 XCR. This has placed the Lisk ICO as the second most successful crypto-currency crowd-fund, and one of the top 20 crowd-funds world-wide. This in itself is already a huge achievement for Lisk,” the project’s blog post reads.

The post also noted that the stated amount isn’t final. Thus, nearly 70 BTC are to be returned to investors, as they were sent after the ICO had been complete. During the ICO’s first week Lisk raised over $500,000.

Lisk was founded by former Crypti team members, Max Kordek and Olivier Beddows. It is a platform for decentralized applications providing developers an opportunity to take part in the project’s ecosystem.

The project’s creators stated their intent to compete with Ethereum and take over a share of the market.

According to their statements, Lisk is advantageous due to the following:

  • IoT-based applications that can be created thanks to minor requirements for nodes;
  • Applications with wide-range functionality (games, abstract markets, distributed storage, social networks, etc.), as the system does not require LISK tokens for each operation. For comparison, in Ethereum, every operation requires availability of ETH;
  • JavaScript developers and others may proceed with realization in a tick, as Lisk, according to the creators, is much more comprehensible than Ethereum.

The official launch of the platform is scheduled for April 11. However, the date is subject to further clarification depending on workload.

The platform’s creators indicated that LISK tokens will appear at some crypto-exchanges after the launch. However, no exchange names have been given so far.

Lisk stresses its decentralized philosophy and openness to the community. The project’s lead Max Kordek told ForkLog in interview a month ago:

“We truly epitomize the spirit of open source development and public collaboration. Everyone can help out building Lisk, either by writing tutorials, cutting videos, promoting the platform, supporting the community, being a country correspondent, or developing the core. They just need to get in contact with us. We really want to emphasize the open source development. We are public all the time, the source code is available on GitHub and we have bi-weekly community meetings on our Lisk Chat. Last week we also launched our public Trello board, in which users can track our progress and open tasks.”

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