The ICO for the Stox prediction platform, which only begun on Wednesday, has ended overnight, as the venture already raised its $30 million target on Thursday. This makes the Stox token sale just about the ninth biggest ICO so far.
The Stox token sale has officially ended after hitting the hard-cap of 148,000 Ethereum – worth about $33 million at the current ETH/USD exchange rate.
Stox is being developed by the invest.com group and will deploy its smart token STX using the Bancor protocol to guarantee liquidity on Ethereum.
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The marketing of the ICO got a massive boost last week when the American boxing champion Floyd Mayweather promoted Stox on Instagram, where he has over 16 million followers.
Sharing a photo of himself sitting in a private jet in front of a table full of dollars, Mayweather wrote: “I’m gonna make a $hit t$n of money on August 2nd on the Stox.com ICO.”
Stox is meant to offer a peer-to-peer trading experience. The developers say that the platform is based on blockchain technology, crowdsourced information, and runs using an algorithm that assesses what the crowd thinks about a specific event. The platform is also said to be dynamic, meaning prediction patterns and assessments change based on events occurring daily.
Users of Stox’s prediction market platform can purchase STX directly with the BNT smart token using ETH, as well as liquidate STX back to Ethereum, with low slippage and no spread.