- Standard Tokenization Protocol raises $750,000 through an IEO on the Bittrex exchange
- The tokens were sold in just a fraction of a second.
STP Network IEO Sold Out In Less Than A Second
A new token sale for Standard Tokenization Protocol (STP) was able to raise $750,000 in just eight seconds. With these amount of funds gathered, the project sold out the tokens they wanted to release to the market. This was announced by STP Network in a recent press release.
On June 11, STP Network conducted an Initial Exchange Offering (IEO) on the cryptocurrency exchange platform Bittrex. The digital currency sold was sold out in a fraction of a second. 75 million STPT tokens were sold out in record time for Initial Exchanges Offerings up to date.
The funds were gathered through Bitcoin (BTC) in amounts that ranged between $10 and $2,500. The company was able to gather $750,000 for 3.75% of the total token supply. The goal is to continue with the development of the project and create a mobile app for retail users.
Investors Interested in Bittrex As IEO Platform
Although Bittrex’s IEO platform received several critics in the past, the STPT token sale shows that there are several users interested in using the Bittrex platform to invest in IEOs. The founder of STP, Mike Chen, commented:
“We are going to continue bolstering our level of service. After a series of successful raises with strong partnerships behind us, we are confident in meeting our roadmap goals for 2019 and will be excited to share more news and developments in the coming months.”
The Standard Tokenization Protocol (STP) is a standard that defines how tokenized assets are issued and transferred by complying with regulatory issues. The STPT tokens are fully compliant across jurisdictions and can be transferable among different platforms.
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