Korea — DAIN, a decentralised escrow platform serving to increase security of cryptocurrency transactions, is ready to launch their crowdsale for the pre-sale of DAIN tokens to early investors. Soon, token holders will be able to claim rewards and users will be able to utilise DAIN’s services in two-party transactions—including transactions of cryptocurrency, FIAT, services, and goods.
Currently, in a centralised model, traders face a constant issue of needing a trusted third party intermediary to regulate transactions in order to prevent fraud or inaction by one party. Blockchain technology, creating a decentralised system, comes as the solution to this issue. Realising this, the people behind DAIN have developed a decentralised escrow platform to independently regulate and ensure safe transactions. In this trust-less system, intermediaries are no longer needed and an equivalent standard of privacy and safety can be achieved.
What DAIN is soon to launch is a crowdsale for the DAIN token. Based on the Ethereum blockchain, these tokens serve a vital role in the DAIN platform, creating nodes of trust to maintain a decentralised environment and creating escrow nodes to resolve any transaction disputes.
Being a token holder does not come without its benefits, as well. Token holders creating trust nodes possess the benefit of receiving a commission for their passive participation in the DAIN platform. This commission is given for every successful trade and paid in the currency of the trade. To create a trust node, token holders need a minimum of 10,000 DAIN, but a weighted system allows any additional DAIN to increase the payout, such that 17,000 DAIN, for example, will result in a 1.7x payout.
DAIN also promises a similar commission to token holders for the escrow nodes created by DAIN tokens. Hence, early investors purchasing DAIN tokens at the start of DAIN’s crowdsale in the near future will soon be able to enjoy a passive income through the platform.
At this time, DAIN has already established a relationship with Asian United Bank (AUB). With DAIN tokens now connected with AUB, potential investors in the crowdsale can rest assured about the accountability of their token purchases.
While the crowdsale is still soon to begin, one completed feature that DAIN boasts is DainTalk, a messaging application for the platform that allows users to communicate with each other during the transaction process. Through DainTalk, DAIN again promotes their goal of building an independent, decentralised system that does not require third party regulators to transactions.
Just after the start of their crowdsale, DAIN coin is currently valued at 0.51 USD. While this figure is already a solid starting price, especially since DAIN coin is still in its early bird stages of sales, DAIN’s roadmap for the near future is expected to significantly appreciate the cryptocurrency’s value. With the proposed opening of the DAIN exchange centre in August 2019 and the creation of a p2p community a couple months after, DAIN coin is projected to be worth around 1.5-2 USD by the start of 2020.
More information about DAIN’s services can be found on their official website.