- EtherLite launches IBCO on Burj Khalifa.
- EtherLite will also offer the first-ever multichain liquidity bridge for IBCO.
- In the few hours following its launch, its token is already valued above $1.15
Following its massive mainnet launch on the Burj Khalifa, EtherLite returned to the sparkling building’s display for its much-awaited ICO and IBCO launch for its native token, xETL. The event took place on May 15th, marking the start of the biggest public sale of 2021 that will utilize the IBCO pattern.
Watch the video here:
The EtherLite IBCO follows a mechanism where each subsequent buyer pays a slightly higher price for each xETL token. Just as interest and investments in xETL grow, the value of the token will also rise. As a result, its price will progressively increase along the bonding curve, awarding users a first-mover advantage.
EtherLite will also offer the first-ever multichain liquidity bridge for IBCO to users, expanding their reach when it comes to trading. In addition, IBCOs feature many unique features that make them more attractive than ICOs, such as:
- Guaranteed Liquidity, available for buying and selling all the time.
- Market-driven price discovery, determined by True Market Demand
- Flexible supply that burns and/or creates tokens, depending on market conditions and value.
The EtherLite logo and features lit up the world’s tallest building entirely for a whopping 90 seconds. Specifically, the launch included mention of the blockchain’s low network fees and one-click dApp migration. With reference to that, EtherLite
In just a few hours following the launch, it raised above $2.5 Million. Following that, its value has already crossed $1.15, starting from just $0.05. Since it went live, a total of 487,249 blocks have been generated on the ecosystem and 2597 transactions have taken place. Its average block time is a minimal 3 seconds at the time of writing.
The blockchain platform featured its IBCO launch on the record-holding metal structure, striking an impressive show for bystanders in Dubai. Alongside the Dubai launch, EtherLite also launched its ICO in Times Square, New York on the same day. Hundreds of New Yorkers witnessed the display as EtherLite listed its main features with relevance to the coin offerings.
EtherLite positions itself as a pure POS-based blockchain network, creating a space for the development of all major DApps on a single ecosystem. Its grand initiation sets the stage for its future potential as a major decentralized platform, offering better fees and transaction times to the community for encouraging DApp migration and DeFi protocols.