A Chinese cryptocurrency start-up founded by over-the-counter trader Dong Zhao raised $21 million in funding. RenrenBit credit platform began selling its own 21 million tokens, each at a price of 1 USDT (equivalent to 1 US dollar). This is an excellent example of another Chinese cryptocurrency startup that benefits using the example of the well-known BNB from Binance.
According to the official statement of the creators of the project, the sale of all tokens lasted no more than 4 hours. But the company states that they are ready to provide a 48-hour window for investors so that they have the opportunity to withdraw their applications. So, because of this, the final amount of funding may be slightly different.
So, the new ERC-20 format token, called RRB, can be used for over-the-counter trading at the RenrenBit site. It is worth noting that the 21 million issued tokens make up only half of the total emissions, the second half will be intended for the RenrenBit team.
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