LakeDiamond SA Sets Sights on Major Expansion With New ICO
The past 12 months have been a truly exciting time for investing in initial coin offerings (ICOs), with a vast number of different fundraising projects emerging across the period.
According to research, as many as 100 a month were being established between January and May 2018 with all of them together raising a total of $13.7 billion – a figure which is more than all of the ICOs which took place before 2018 combined.
It has undoubtedly been a fascinating moment for cryptocurrencies and it looks like the excitement is set to continue into 2019, with LakeDiamond SA launching an ICO which could offer many people a crystal clear investment opportunity.
What is LakeDiamond SA?
Based in Switzerland, LakeDiamond SA’s roots only go back just over a decade, when its chief executive officer Pascal Gallo received his PhD in the area of crystal growth.
Following this, he went on to examine the potential for growing ultra-pure diamonds in a laboratory environment, with the aim of using such products in a range of applications and sectors from telecommunications to computing and energy.
Now, as part of ambitious expansion plans to ramp up production and buy 50 reactors to support their work, his company has launched a major new ICO which it claims is noteworthy for one reason in particular.
LakeDiamond SA has stated that its ICO is the first ever to be powered by services from an established name from the world of banking.
Swissquote is assisting with the fundraising scheme, with the organization’s involvement meaning that clients can purchase LakeDiamond tokens (LKD) directly against Swiss francs. Each LKD is expected to equate to a minute of diamond production, with reports suggesting investors will be able to either capture production value or convert their tokens into synthetic diamonds for their own use.
The tokens have been issued in line with the technical standards used for smart contracts on the Ethereum blockchain.
Key Specifics of the ICO
The key details related to LakeDiamond’s ICO include that the minimum purchase level is set at 60 LKD, which is thought to equate to 33 Swiss francs.
The link-up with Swissquote means that a pre-sale has been open to the bank’s clients now since October 22nd and is set to run until the middle of December. As well as getting early access, they have also been offered further bonuses of free tokens.
It is expected that the ICO will open to the general public in early 2019, with the offering featuring a hard cap of around 60 million Swiss francs. Legal experts from Schellenberg Wittmer provided advice to the organization during the creation of the scheme.
Will it be a Success?
The last 12 months have been an incredible time for cryptocurrency, with interest in buying bitcoin and other alternatives growing following record values and the ICO concept taking off in a major way.
A range of fascinating projects have looked to use the fundraising mechanism to get off the ground and the plans related to LakeDiamond SA are no exception. Will it have the pulling power to attract the significant investment it is hoping for? We will no doubt find out as matters develop across the first few months of next year.