Eccentric entrepreneur Kim Dotcom, also known as Kimble and Kim Tim Jim Vestor, will offer his token on the Bitfinex cryptocurrency exchange starting in October, according to a press release published at the start of the week.
The crypto exchange will relaunch Tokinex, which is an Initial Exchange Offering (IEO) platform, under a new name: it will be called Bitfinex Token Sales, and it will have the K.IM’s associated token among its offerings.
K.IM is known around the industry for being a P2P (peer to peer) digital content and monetization blockchain network. Its token will be available on the Bitfinex platform starting on October 22nd. Bitfinex is one of the biggest and most prominent crypto exchanges at a worldwide scale.
The Platform Will Be Active In 2020’s Third Quarter
The press release detailed that the K.IM network is responsible for raising $2.5 million in funding from actors such as Max Keiser, BnkToTheFuture, and Bitcoin Capital, among others. Per its documents and roadmap, developers estimate that the platform will be up and running in 2020’s third quarter, and around that date, a formal listing on Bitfinex will be made official.
The entrepreneur, political and digital rights activist shared his comments about the revealed news. He said that “combining the internet with Bitcoin gives us a real chance of achieving the original promise of the internet; freedom of speech, commerce and finance. […] I founded K.im to allow artists, content creators and digital businesses to cut out all the middlemen and sell content and digital goods without censorship and outside of monopolies.”
Dotcom, also known around the online world for founding the file sharing service Megaupload, also stated that the Bitcoin blockchain has grown and it can now host a myriad of new projects and possibilities.
The “Perfect Partner”
“We can finally create our KIM token on top of Bitcoin thanks to recent technical breakthroughs like Lightning and Liquid. Bitfinex is the perfect partner to help us distribute KIM tokens, built on Bitcoin, to those who want to access the freedoms that our products provide”, the activist explained.
According to Bitfinex, the revamped IEO network will have “direct integrations with the Bitfinex exchange itself.” Paolo Ardoino, who is the chief technology officer at the firm, offered his thoughts on the current IEO situation.
“Most IEO’s are marketing campaigns that focus on achieving a short-term result, but that is not how real businesses are built. Successful businesses are built through long-term, sustainable growth,” he observed.
LEO Will Be Available On Future Token Sales
As part of Bitfinex’s announcement, it was revealed that the exchange’s proprietary utility token, named Unus Sed Leo (LEO) will be sold in future token sales, and holders will enjoy higher allocations than the people holding different digital currencies.
In the wake of the Bitfinex news, it is fair to indicate that another world-famous crypto exchange, Coinbase, is also mulling the idea of launching an IEO platform.
By Andres Chavez