After raising over $20 million in the private-sale stage, CEDEX followed it up with an incredibly successful token pre-sale. With over 1000 participating, CEDEX was able to sell all of the available 25,000,000 CEDEX Coins in just a couple of hours. The token pre-sale went live on March 16th at 10:00 GMT and finished at 13:54.
The quick finish to the token pre-sale was hardly shocking to cryptocurrency investors. CEDEX has been one of the most talked about ICOs in recent memory because of their potentially revolutionary technology that enables diamond tokenization.
In February of this year, CEDEX CEO Saar Levi and business development leader Boaz Hilel were recognized with the Audience Award at the Blockchain Economic Forum (BEF) 2018 in Singapore. The award was a good indicator of how positively people in the blockchain space feel about CEDEX.
And why wouldn’t they? With an annual turnover rate of $80 billion, the diamond market has the potential to be one of the most lucrative trading markets in the world. However – as Dani Zaharie wrote in his article on CEDEX for Steemit – diamonds presently aren’t even considered an asset. While nobody disputes that diamonds have value and are highly sought after, there is no standardized or fixed pricing for them.
In comparison, commodities like gold and silver are fungible and can be easily exchanged, allowing them to have well-developed public markets. The last couple of decades have had a lot of trial and error when it comes to increasing the standardization in the diamond market so that it can catch up to those other commodities, but thus far all of the efforts have come up short in making the market open to general investors.
The CEDEX solution has set itself apart from those past trials in two ways. First is the DEX, a proprietary machine learning algorithm for pricing diamonds with unparalleled coherency and accuracy. An article on the major blockchain news outlet coinidol.com explains in depth how the DEX works, as well as how the DEX’s data can ultimately be used for category trading. What really makes the DEX impactful in the diamond market, though, is that it sets the bar higher for standardized and transparent pricing of stones. The result is that it enables investors who don’t have expertise in the diamond business to buy and sell with the confidence of a seasoned trader.
In addition to the DEX, CEDEX’s implementation of blockchain technology makes it possible for general investors to carry out peer-to-peer diamond exchanges transparently and trustlessly. The importance of cutting out the middleman in the diamond market is difficult to overstate. You see, that middleman is extremely costly in today’s market. So costly, in fact, that the typical diamond reseller can lose up to 50% of their stones fair market value in the deal.
By launching the DEX and the blockchain based diamond exchange together, CEDEX promises to bridge the gap between the traditionally private diamond market and the innovative financial markets that exist for most other noteworthy assets. Doing so will transform diamonds into a publicly tradeable asset and completely revolutionize the entire industry. That’s why CEDEX was listed as one of the Top 5 Cryptocurrency Projects to watch in the entire blockchain space for the month of March by Invest In Blockchain.
CEDEX Coin Token Sale
If you weren’t one of the lucky investors who managed to buy some CEDEX Coins during the short token pre-sale, you’ll have another opportunity on 17th on 10:00 GMT, where an additional 25,000,000 CEDEX coins will be made available to the public there will be 25,000,000 CEDEX Coins available to the public.
Participants on the whitelist will get early access to the token purchase, after which point they will be sold on a first come first serve basis to the remaining investors. It will be critical that you act fast to get your coins, especially considering the high demand experienced so far.
Unlike the token pre-sale, the general token sale has no minimum contribution.
To learn more about CEDEX and find out why so many people have been talking about it, you can read the project whitepaper, or the lightpaper if you’re short on time. TO get involved in the CEDEX community, you can join them on Telegram, Facebook and Twitter.