Blockchain startup Trade.io announced a collaboration agreement to integrate Bancor Protocol, allowing for the instant conversion of its Trade Token (TIO) to and from Ethereum ERC20 tokens in the Bancor Network. The integration will expand TIO’s capabilities in terms of conversion and functionality.
Bancor Protocol is a standard for the creation of Smart Tokens, which refers to crypto assets with built-in convertibility directly through their smart contracts. Bancor Network allows any integrated token to be automatically converted to any other token, directly from any Web3 wallet.
The partnership between Trade.io and Bancor will allow the Switzerland-based to integrate its TIO tokens into the Bancor ecosystem, which will secure deeper liquidity for the tokens’ transactions, regardless of trade volume or exchange listings.
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The integration of the Bancor-compliant tokens will take place shortly after the conclusion of Trade.io’s ICO.
Jim Preissler, Trade.io CEO, commented: “We continue to deliver to the trade.io community unique value added propositions, and see this relationship with Bancor as a further example. We already have generated a large demand for our community and it’s only logical to provide a simple way to convert tokens.”
Earlier this week, Trade.io announced that its token presale, which is ongoing, had already surpassed $20 million. Following the pre-ICO launch in November, the project hopes to raise $135 million to expand the reach of distributed ledger technology to create a truly digital environment for trading blockchain-based financial assets.
The crowdfunding that started less than two months ago has attracted more than 10,000 participants, and in the midst of a successful pre-ICO the startup has passed critical milestones in fundraising.
The platform, which has received financial backing from Chinese billionaire investor Chien Lee, aims to integrate blockchain technology and smart contracts to create a peer-to-peer trading platform for crypto assets. Furthermore, it plans to subsequently introduce forex and CFDs for precious metals, oil, commodities, indices, global equities and more.