Backed by industry leaders, including Boxmining, KVestor, ethbox aims to mitigate any risk involved in ERC-20 transactions.
By Julia Sakovich
Updated
3 mins read
Boxmining Founder Michael Gu joins ethbox as an advisor as a successful IDO whitelisting sets an excellent precedent for the upcoming EBOX token sale.
Surfing on the Initial Dex Offering (IDO) hype within the decentralized finance (DeFi) markets, ethbox, a community-incubated project that aims to simplify the crypto user experience. The project recently closed their whitelist IDO of the EBOX token at DuckStarter, a community-led crowdfunding platform launched by DuckDAO.
The IDO, now closed, represents one of many planned token distribution mechanisms for the token. The sale will release 1.625 million EBOX at $0.055 each, amounting to just over $89,000. These tokens are now available on Uniswap, a decentralized Ethereum exchange.
One of DuckStarter’s favorite projects, ethbox, is designed to complement the Ethereum blockchain. It’s a smart contract-based digital escrow network, facilitating quick and safe Ethereum (ETH) transfers on the blockchain.
Backed by industry leaders, including Boxmining, KVestor, ethbox aims to mitigate any risk involved in ERC-20 transactions. By simplifying transactions, ethbox attempts to make it impossible to send funds to the wrong address. Additionally, it offers an extra layer of privacy for users who want to make their transactions invisible to the otherwise transparent blockchain ledger for a small fee.
Crypto adoption by mainstream investors is snowballing. The increasing acceptance brings an increase in crypto transfers for institutional buyers, exchanges, and organizations. With such unprecedented growth in investors who may not yet be as well versed in cryptocurrencies, ethbox ensures that security checks are available in the mechanism to prevent loss of funds from both unintended transactions and unscrupulous blockchain operations.
Owing to the unique proposition of and initial attention the IDO has received, ethbox has become one of the highest gainers in recent weeks, primarily due to the need to secure continuously rising transactions in the cryptocurrency community. The initial IDO saw a surge in demand with no explicit marketing effort – a good precedent for the upcoming EBOX token sale.
Michael Gu, renowned crypto journalist, influencer, and founder of Boxmining, officially announced on his YouTube channel that he has chosen to be an advisor to ethbox to help them grow their product, especially when adding new features and capabilities. This partnership adds a significant strategic advantage for ethbox, which reaches yet another milestone amidst a flood of positive reviews from users worldwide.
EBOX, now live on Uniswap, will act as a governance token for the platform, which entitles token holders to 50% of ethbox’s total revenue and gives them voting rights in the protocol’s development.
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Julia is an experienced content writer. She works with various topics and business domains, including but not limited to blockchain, cryptocurrencies, AI, and software development. Her articles are regularly featured on reputable news websites and IT business portals. Currently, Julia is the Editor-in-Chief at Coinspeaker.
