The cryptocurrency based company sold 80% of their $10M hardcap and is preparing for the full ICO
ZUG, Switzerland, November 7, 2017 /PRNewswire/ --
Starbase, the decentralized crowdfunding startup, has just recently completed their extremely successful presale ICO of their STAR tokens, and is gearing up for the full public ICO sale. The company had set a preliminary hard cap at $10 million, of which 80% was raised quickly during the Bitcoin Suisse-backed presale. The full ICO will commence on November 9 at 15:00 UTC and will conclude November 24 at the same time. Full KYC/AML regulatory requirements have been met, and the ICO is ready for launch.
Finding venture capital (VC) funding has traditionally been a slow and painstaking process. Innovators have been forced to labor intensely looking for financial capital, rather than spending time focusing on their innovations. However, Starbase has found a unique way to circumvent this archaic process using blockchain technology and their own cryptocurrency.
VC firms are generally oligarchical - that is, they are run by a very few huge investors. Smaller investors have traditionally found it complex to seek out great innovations and invest in them, both from a fiscal standpoint, and from the standpoint of only finding the dross. The Starbase platform, however, allows investors to effectively and simply seek out innovations and invest in them - even in small quantities - without the complexity of the VC world.
The company has found a specific niche in the market, which is driving the skyrocketing demand. By creating a seamless platform for new innovators to launch their own tokens as a crowdfunding source, Starbase has streamlined the process for ICOs for everyone. Users with an idea are able to take advantage of the platform as a vehicle to issue their own tokens for crowdsale, sharing profitability with their potential investors and creating a methodology for democratized investments.
The company's presale success has revealed that this new marketing system, democratized and simplified, is truly the way of the future. During the sale, for example, the company faced some slowdowns because of KYC/AML regulation, and were forced to validate some investors manually. However, even with this delay, the company still saw huge response for STAR tokens.
For the upcoming ICO, the company has chosen to use PICOPS (https://picops.parity.io) to perform the customary KYC/AML checks. While a minor fee of 0.024 ETH will be charged per new user by PICOPS, the process will greatly enhance the approval process, and Starbase has made the minimum buy-in just 0.1ETH, reflecting their vision of allowing small-scale investors the opportunity to take part in some of the biggest investments.
Starbase, founded by blockchain expert Tomoaki Sato, is promising to reshape the way innovators and investors alike think about crowdfunding and venture capital. Their proprietary platform will provide new opportunities for intellectual and commercial advancement.