First Token Merger Launches by ARAX and COSS, Aims to Start a Utility Token for Multiple Platforms
The cryptocurrency industry has been in a constant state of evolution since the first day that whitepaper on Bitcoin came out. The whole point of crypto at all is to erase the needs for a central authority, but one of the problems that the market faces is the individuality of all of these platforms.
However, COSS recently published a newsletter that explained a merger that they have established between themselves and ARAX, resulting in a “massive utility token.”
The two entities have chosen to merge “all their existing tokens & its various use cases,” which they believe will be followed by their supportive community. The project has been in the works for over a year, and the press release said that the opportunity for mass adoption is getting bigger with blockchain’s mainstream use cases.
The press release adds that, between the utility tokens and the merger between companies, COSS expects that they’ll be “up together with the blockchain corporates of the world.
ARAX is a multi-purpose universal crypto wallet, working with one of the most reputed exchanges in Asia. With all of the planning and work on the project, the launch isn’t quite ready.
Instead, the press release says that all of the information that consumers need to know will be available to them in another annoucement, due in May 2019.
The ARX ecosystem has come with significant advantages from the first day of progress. This new master token is the collaborative work between both COSS and ARAX, but the companies add that there will be additional dApp partnership, a decentralized exchange, a merchant app, and more, upon launching the efforts.
Even with the information that the press release offers on the project, there are still a lot of variables and plans that have not been narrowed down. A roadmap, along with a release schedule, will come with the rest of the informational release in May this year. However, COSS explains that the teams will be:
- Transferring the current tokens (including utilities and benefits) to the ARX token, losing out on nothing.
- Establishing a launchpad for IEOs
- Offering lending options, OTC trading, and institutional logins
- Providing gift card solutions
- Establishing trading for fiat-to-crypto and crypto-to-fiat, which will be done on a situational basis
The company has already established over 50 partnerships that span across multiple industries, and they already have blockchain products created.
To read the full annoucement on this game-changing merger, visit https://mailchi.mp/e552598e2705/whats-new-on-cossio-130117.