Swissquote, the banking institution that has recently got in the limelight, enabled cryptotrading for its clients for quite some time now, which is very improbable service for a fiat bank. Moreover, the bank provides conventional FOREX trading and a variety of different services offered by conventional banking institutions.
The first initial coin offering to be proposed as a financing option within the operations of Swissquote is LakeDiamond, a firm specializing in laboratory-grown diamonds, aiming to gather the funds to buy new equipment. They are going to provide more initial coin offerings in the upcoming future.
The preliminary sale of this ICO is still running and promises a 10% bonus up to nearly 4 million US dollars’ worth of francs. The traditional public sale will not start up to January of the next year. It is likely that the purchasers will be unable to get the chance to make use of any profits or swap their tokens for different digital currencies until the spring arrives.
The currency is tied to the value of diamond production, every coin is designed to equate the price of 1 minute of working period of the growth reactor that creates the project’s jewels. As 1 minute is the smallest unit there is, the coins become non-divisible after this mark. In the event that a diamond plate requires 180.5 minutes to produce, it will charge 181 LKD.