InWara - ICO Database, ICO review, Security tokens and more

Auditchain’s upcoming Initial Exchange Offering on Exmarket, everything you need to know

auditchain, initial exchange, offering, exmarket

Auditchain is Blockchain Startup that is purportedly developing the world’s first decentralized auditing and financial reporting protocol ecosystem for digital assets and aims to target the enterprise assurance and disclosure market.

Auditchain is launching its Initial Exchange Offering (IEO) on June 14th, 08:00 UTC on Exmarket’s IEO platform based on InWara’s market intelligence platform.

Notably, Initial Exchange Offerings have quickly become the fundraising norm in the industry despite the risk involved in such projects. As much as $1.2 billion have been raised by IEO projects during the month of May alone, based on InWara’s Monthly report: May 2019 and is akin to a staggering 45% of the total funds raised by Blockchain and Crypto projects.

Auditchain, Initial Exchange Offering on Exmarket

Monthly report: May 2019

Like our data? You'll love our market intelligence platform Get started

 

The next best performer is Security Token Offerings (STOs) which managed to raise a whopping $255 million during the month of May. Not sure what security tokens are? Check out InWara’s Security Token Offering report.


So what’s Auditchain’s vision?

Auditchian is based out of Zug — Switzerland which is also known as the crypto valley of the world because of the sheer number of Blockchain and crypto projects that to originate from there.

The company aims to be the driving force in enabling a new trustless assurance economy and mentioned earlier, aims to create the world’s first decentralized continuous audit and reporting ecosystem using its platform infrastructure.

The problem with current auditing procedures of enterprises is that it’s based on a randomized selection of data which is examined and audited by external auditors like KPMG, Deloitte etc. Auditors are required to assess the fairness of the reporting data which is based in part on the representations of the management — in essence, it’s not entirely objective, it’s cumbersome and expensive.


Token distribution-

Auditchain will generate 250 million AUDT tokens during its token generation event, following which the tokens will be launched on Ethereum Network via an ERC-20 smart contract.

The token distribution is as follows-

Auditchain, Initial Exchange Offering on Exmarket

source

As much as 40% of the total AUDT tokens will be available during the public sale which is on June 14th. Up to 100 million AUDT tokens will be sold to early adopters, ~45 million will be allocated for airdrop, 25 million tokens each for advisors and team. Auditchain’s Mainnet is expected to launch by Q2 2020 and its commercial launch is expected by Q3 2020.

For a more in-depth analysis of Auditchain including — investment risks, market opportunities, experience of company management and a slew of other data points, take our market intelligence platform out for a spin. Don’t worry! Your first 7 days is entirely on-the-house.

Register for a free trial

The Most Trusted

Market Intelligence Platform

Get Started