Tresaro joins Bancor Protocol to create smart token
Tresaro, the blockchain-based marketplace, announced late on Tuesday its integration of the Bancor Protocol, the standard for the creation of smart tokens – cryptocurrencies with built-in convertability.
The Sofia, Bulgaria-based marketplace, the first to combine e-commerce, crowdfunding and charity payments, said its integration into the Bancor Protocol will help provide continuous liquidity for its platform ahead of the public sale of its TRE Relay Token initial coin offering (ICO).
Tresaro began the pre-sale of its ICO last week and expects tens of thousands to participate. The Relay Token holds two equal weightings – one in TRE and the other in Bancor’s BNT token.
This allows the TRE token to be convertible with any other token in the Bancor network.
“We are excited to see thousands of people and businesses across the globe joining our quest for improving how e-commerce functions while making charity and crowdfunding more transparent,” said Javor Ninov, Tresaro’s chief executive.
He added: “The listings of the TRE token have already been confirmed on multiple exchanges, but we wanted to join a decentralised liquidity network too, and are happy to be able to take advantage of the features offered by a project backed by industry evangelists such as Tim Draper.”
The public pre-ICO round is planned to begin in August, while the official ICO will begin in the first quarter of 2019.