Former Telegram Employee to Launch Crypto Token Platform

A new cryptocurrency trading platform launched by former Telegram director of special projects Anton Rosenberg seeks to help blockchain startups stabilize their token prices.

Mikado, a crypto derivatives trading platform, will provide a solution for projects planning an initial coin offering (ICO) but which want to avoid the price collapse that occur when an open sale begins and early investors drop their tokens, Rosenberg announced Tuesday. He told CoinDesk that “many companies who are doing ICOs are trying to get investors’ attention by big bonuses and discounts without a understanding how it will affect the price after the ICO.”

Unlike traditional financial markets where underwriters and market makers are helping companies to structure their IPOs, ICO markets don’t have institutions and mechanisms to plan a gradual release of liquid tokens, so Mikado will do this job instead, Rosenberg said.

Mikado is going to issue a derivative for any tokens that are locked up, such as bonus tokens for early investors or tokens that are distributed among the project’s employees to stimulate their work…

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