Kim Dotcom to Sell His 'Built on Bitcoin' Token Next Month on Bitfinex


Cryptocurrency exchange Bitfinex has announced the relaunch of its Initial Exchange Offering (IEO) platform Tokinex as Bitfinex Token

The news was revealed in a press release shared with Cointelegraph on Sept. 24.

A Bitcoin-integrated token

For the release, K.IM has raised $ 2.5 million in funding from BnkToTheFuture, Bitcoin Capital and Max Keizer. According to the project's roadmap, the platform is expected to go live in Q3 2020 alongside a formal listing on Bitfinex.

Entrepreneur, digital rights activist and founder of now-defunct file-sharing website Megaupload, Kim Dotcom, commented on the development:

“Combining the Internet with Bitcoin gives us a real chance of achieving the original promise of the internet; freedom of speech, commerce and finance. […] I founded K. to allow artists, content creators and digital businesses to cut out all middle and sell content and digital goods without censorship and outside of monopolies. "

According to Dotcom, the Bitcoin blockchain has been able to scale so far and can now support a slew of new possibilities.

"We can finally create our KIM token on top of Bitcoin thanks to recent technical breakthroughs like Lightning and Liquid. "Bitfinex is the perfect partner to help us distribute KIM tokens, built on Bitcoins, to those who want to access the freedoms that our products provide," Dotcom explained.

Bitfinex courts LEO holders

Bitfinex meanwhile notes that the renewed IEO platform will have “direct integration with the Bitfinex exchange itself.” The company’s chief technology officer Paolo Ardoino commented on the current IEO landscape:

“Most IEOs are marketing campaigns that focus on achieving a short-term result, but that's not how real businesses are built. Successful businesses are built through long-term, sustainable growth. "

Bitfinex will be part of all future sales tokens and its holders will have access to higher allocations than those with other digital assets.

As Cointelegraph recently reported, United States-based cryptocurrency exchange Coinbase has also indicated it is considering the launch of an IEO platform.

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