Every day dozens of new tokens are announced at the bitcointalk forums. We go through them all to find the cream of the crop – giving you the scoop on top ICOs before anyone else.
After looking through 22 token sale announcements, we’re picking Celsius as our ICO of the day for its innovative and promising premise of a cryptocurrency wallet that pays interest.
Premise
Celsius is a cryptocurrency wallet and P2P lending platform. Users can get interest payments on coins held in the wallet, or they can choose to use the coins as collateral for a cash USD loan.
Celsius’s marketing messaging and business model targets ordinary retail investors for the wallets, and institutional investors for the loans, which would foreseeably be used to short cryptocurrencies.
Team
Celsius has a strong team encompassing startup, engineering, finance, algorithm, and marketing talent. This is one of the most slickly presented ICOs we’ve seen so far, and they’ve already achieved significant PR coverage in major mainstream media including Forbes, VentureBeat, and HuffingtonPost.
Besides the strong talent and experience on the team, we like the fact that the team is based out of New York as this allows the team to better connect with the institutional investors it’s targeting for loans.
Token
Celsius Degrees, or CEL, are used to pay interest and fees on the platform. Lenders earn interest in the form of CEL on the cryptocurrency they hold in the wallet, and borrowers pay interest and fees in CEL.
50% of the tokens will be sold in token sales, with 40% going to the presale and 10% in the main sale. The hard cap for the project is $100 million. This is a rather large cap but the scope of the project is large enough that it may be reasonable.
Summary
Celsius is a very strong ICO with a good value proposition for everyone involved. Users get to collect interest on coins they hold, while institutional investors get access to crypto currency loans for trading purposes. The team is strong, and the hype and publicity around this project is very high.
There are risks to this project. Crypto companies have notoriously had issues with fiat banking, and Celsius will be competing with other players(such as Lendingblock) for institutional clients. However, overall we think this is a great project.
You can join their whitelist here.
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