COINSILIUM GROUP LIMITED
("Coinsilium" or the "Company")
Advisory Client Update
Indorse 2.0 Light-Paper and IND Crypto Trading Contest
London, UK, 26 October 2020 - Coinsilium Group Limited (AQSE:COIN) (OTCQB:CINGF), the Blockchain, DeFi and Crypto Finance venture operator, is pleased to provide an update from Indorse Pte. Ltd. ('Indorse') which recently released its Indorse 2.0 Light-Paper and announced the start of the IND trading contest on KyberSwap, a decentralised token swap platform.
Indorse is a Coinsilium equity portfolio company. Coinsilium currently holds a 10% interest in the issued share capital of Indorse. Coinsilium also holds 5,793,875 IND tokens representing approximately 15.37% of the current circulating supply. This holding is formed of a combination of tokens granted as founder investors in Indorse as well as subsequent market purchases made by the Company.
On 17 August 2020, Coinsilium announced its appointment as advisor to Indorse in respect to its initiative to revive the token economics of its IND token and on 22 September 2020 the Company provided a progress update on the initiative.
Indorse has now released the Indorse 2.0 Light-Paper which provides the specifications relating to its updated token utility model. The Indorse 2.0 Light-Paper can be downloaded here.
Indorse 2.0 Light-Paper Highlights
The Indorse 2.0 Light-Paper reinforces the IND token as the core element powering the Indorse ecosystem, especially through new roles created and the introduction of staking rewards. The new roles which are designed to increase the utility of the IND token include Decentralised Referral Agents, who are required to stake IND to maintain their agent status, and Liquidity Providers who will play an essential external role in maintaining a dynamic IND token market.
The introduction of IND staking in the token model is designed to reward the most active members of the Indorse community.
These changes are the first steps toward the creation of a fully decentralised governance model of the Indorse platform, the Indorse Decentralised Autonomous Organisation ('DAO') to be implemented throughout 2021.
Indorse has also announced the launch of the KyberSwap trading competition which commenced today and will reward users of the KyberSwap platform (https://www.kyberswap.com/swap) for providing liquidity to the IND token market.
Eddy Travia, Chief Executive at Coinsilium, commented: "We are very proud to be supporting Indorse throughout this journey and we believe the publication of the Indorse 2.0 Light-Paper, in addition to the liquidity enhancement initiatives and the KyberSwap trading competition, will have a highly positive impact on Indorse and the IND token. KyberSwap trading competitions have been highly successful in raising awareness for several crypto tokens in the past and 'Staking' continues to demonstrate its effectiveness as a method of incentivising token holders whilst increasing the scarcity of tokens trading on the market. As confidence in the Indorse revived token model continues to grow, we expect this to provide a material boost to the IND token utility and re-dynamise the Indorse token ecosystem."
Advisory Service Terms
Terms pertaining to advisory engagements are commercially sensitive and subject to confidentiality agreements. As a rule, service fees are made up of monthly retainer fees and a final success fee, payable on the successful completion of the agreement.
Whilst these revenues can be meaningful, fees are usually denominated or payable in cryptocurrencies and are therefore often subject to the high levels of volatility witnessed in this industry.
The Directors of Coinsilium Group Limited take responsibility for this announcement.
For further information, please contact:
Coinsilium Group Limited
Malcolm Palle, Executive Chairman
Eddy Travia, Chief Executive
+44 (0) 7785 381 089
Peterhouse Capital Limited
Guy Miller / Mark Anwyl
(AQSE Growth Market Corporate Adviser)
+44 (0) 207 469 0930
SI Capital Limited
+44 (0) 1483 413 500
Notes to Editor
Coinsilium is a focused Blockchain, DeFi and Crypto Finance venture operator. As the first ever IPO of a blockchain company in 2015, Coinsilium has harnessed its experience and wide-ranging network to invest in leading blockchain projects such as RSK/IOV Labs, Indorse and Blox.
In July 2020, Coinsilium executed an agreement with top 100 blockchain protocol company IOV Labs, to establish a 50/50 Joint Venture Company in Singapore to promote and commercialise RSK's products, services and technologies in the Asian markets and to promote the adoption in the region of the RIF token which powers the ecosystem of solutions developed by RSK, their partners and developers around the world.
Coinsilium shares are traded on the London-based AQSE Growth Market, the primary market for unlisted securities operated by Aquis Stock Exchange, a Recognised Investment Exchange under the Financial Services and Markets Act 2000 under the ticker symbol "COIN", and on OTCQB Venture Market ("OTCQB") in the United States under the ticker symbol "CINGF".
For further information please visit www.coinsilium.com or follow @CoinsiliumGroup on Twitter
Indorse is a skills validation platform which helps companies find the talents they need faster. Unlike other platforms on which users can claim skills without a proper validation, Indorse ensures that users' skills are assessed and validated by a panel of experts. Using cutting edge technology, Indorse provides insights about candidates' skills and proficiency level. Instead of spending several man-hours and dollars sifting through a barrage of resumes, hirers can now interview only the validated candidates who have been assessed by experts in the domain.
For further information about Indorse please visit www.indorse.io and https://youtu.be/CBs1JJe9Qr4