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KuCoin Supported Shell tokens Launched By Oyster Protocol

Oyster Protocol has announced an Airdrop for its Oyster Shell Token (SHL) on April 13, 2018, stating that KuCoin, which is supporting the move will give room to those who store their PRL on KuCoin wallet the advantage to receive SHL at 1:1 without moving their funds out of the wallet.

Oyster Protocol is built on the Ethereum and IOTA Tangle blockchain. The website is a monetization and distributed storage solution.  Its tokens, SHL, are what users employ in paying for connectivity and Dapp operation across the Oyster meshnet. They are at the same time used to gain access to the web by bypassing ISPs.

A statement by Taylor French, Design and Communications Director at Oyster, on Medium, a socio-blogging platform, reflects that PRL holders will get Shell tokens through the announced Airdrop, and it is not offered in a token sale. KuCoin will be the only exchange where you can keep PRL and still receive the SHL Airdrop, the statement has reflected.

“KuCoin has confirmed that they will be participating in the SHL Airdrop. Since the agreement between KuCoin and Oyster for the SHL airdrop was not finalized until this past Friday and given KuCoin’s busy schedule and limited available development resources, April 6th was not going to be a feasible date to have proper preparations made for the SHL airdrop on the KuCoin platform.”

The statement enjoined PRL holders who are not using KuCoin wallet to use personal wallet like MyEtherWallet. It added that websites who install Oyster code for monetization earn PRL and SHL in return.

In its White Paper, the team behind Oyster Protocol says it is designed to solve revenue generation, anonymous and accessible storage, and decentralized application development and deployment. The protocol unlocks the dormant revenue potential of millions of websites, the storage dilemmas of individuals and corporations, and the mesh-net platform that developers need.

The protocol is invented due to the fact that the internet is constantly threatened by governing bodies worldwide concerning censorship, regulation, and spying. It is intended to addresses these problems with a new comprehensive platform.

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Overstock.com Showcases Trading Platform, tZERO

Less than 24 hours ago, Overstock.com – the online retailing giant – showcased a prototype of a trading platform their development team has been working on called tZERO. The project has a private offering for the tZERO Security token (TZRO) that is currently in progress. It was extended till May 14th this year from an earlier deadline of March 1st.

According to the tZERO website, they will  enter into Simple Agreements For Equity (SAFEs) only with accredited investors pursuant to the terms and conditions set forth in the Offering Memorandum, dated March 1, 2018, for the Token Sale.

Also according to the website, tZERO’s Security Token front end is designed to trade security tokens in an easy, compliant, and user-friendly manner. This system is integrated with tZERO’s existing 15c3-5 risk management software, order management system, matching engine, and a plethora of proprietary technology to support the eventual trading of security tokens.

The demonstration of the prototype of the platform is meant to reach out to the cryptocurency and regular securities trading community for input, questions, comments and ideas for improvement – ahead of the final launch in May. They too are operating on a regulation grey area as they await SEC guidelines on the whole industry of cryptocurrencies and security tokens.

So far, Overstock has raised $250 Million from its private offering and this amount is expected to grow with a month till it ends.

The tZERO token (TZRO) is an ERC20 token that will be offered as a security to qualified investors in accordance with US and other laws. The token will pay 10% adjusted gross revenue to token holders on a quarterly basis. TZRO joins other dividend based tokens that were used to fund exchanges such as Bankera (BNK) and KuCoin Shares  (KCS).

Bankera pays its dividends to investors on a weekly basis whereas KuCoin does its payment on a daily basis. All this is possible through the ever amazing smart contracts available in the cyrpto-verse.

To note is the constant enthusiasm by regular companies dealing in traditional business, venturing into the world of cryptocurrencies and blockchain. Overstock also joins the Rockefeller arm of investing, Venrock that recently partnered with Coinfund, in this trend of doing so.

Perhaps Bill Baryhdt was right when he saidAll Hell Will Break Loose in crypto this year.

[Photo source, tzero.com]