London-based startup-accelerator Coinsilium Group, which finances and manages the development of early-stage blockchain technology companies, has added FANTOM Foundation to its advisory clients’ list and will provide guidance to its upcoming token sale.
FANTOM is developing a smart contract platform based on Directed Acyclic Graph (DAG). DAG-based protocols are an alternative to traditional blockchain models and provide faster transactions and low fees keeping the core features of the blockchain, like immutability, censorship-resistance, and decentralization, intact.
Commenting on this advisory appointment, Coinsilium’s CEO Eddy Travia said: “I am delighted to be joining the board of advisors of FANTOM, on behalf of Coinsilium. The rate of innovation in this space is quite staggering and we are looking forward to working with their highly talented and ambitious team as they look to develop new DLT solutions with inherent scale and faster transaction times.”
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FANTOM is planning to raise $39.8 million by selling the platform’s native tokens, and the event is scheduled to start on June 15.
Expanding client list
Moreover, the business of Coinsilium gained momentum after it raised over £720,000 ($960,800) late last year by selling 8.0 million ordinary shares of company stock.
As a part of its startup acceleration program, Coinsilium is also investing in many blockchain businesses. Last year, it invested $75,000 in a cryptocurrency social trading startup called Coindash. That followed more investments by the firm including another $75,000 in the blockchain-based Linkedin alternative Indorse and nearly $500,000 in StartupToken, a provider ICOs advisory services to cryptocurrency start-ups.