What is Stox?
Stox (STX) is an Ethereum based Open source platform which will be used for predicting outcome of any imaginable category Be it sports, celebrity marriages, election results, and even the weather.
The platform targets mainstream audiences and allows investors to leverage their knowledge and profit from it by predicting the events accurately.
Stox is a collaboration of invest.com, an online financial company operating since 2014, which boasts over 200 employees across 5 countries, and whose trading platforms accommodate over 3 million registered users.
How Does Stox Work?
Stox's role is to develop the open source technology required for running a decentralized Stox platform built on a blockchain network that creates a successful model incentivizing both, users and event providers to join the network.
Its prediction markets provide a platform where any individual or organization can tap into the opinion of the masses for any question and predict the result based on the consensus.
For example, If the odds of an event occurring is 1.5x, that indicates that there's 66.66% chance that the event will occur when you convert it into implied probability which is what the public perception is at that given moment.
Prediction markets are known to be useful not only for understanding the crowd mindset on certain topics, but also as effective prognostic tools (in a similar fashion to economic markets), and are used by large institutions and companies to predict the outcomes of business or product development courses.
The end goal for Stox is to create the leading decentralized prediction market used by mainstream audiences, by maintaining a thriving ecosystem of users looking to invest in event outcomes and providers looking to create events and be compensated for operating them.
The main role of Stox is to develop the open source technology required for running the decentralized Stox platform and network and create a successful model incentivizing both users and providers to join the network being built on the Ethereum blockchain.
About The Stox Initial Coin Offering:
The power behind Stox is the ICO STX digital token. All activity in the network revolves around STX, from serving as the primary form for fees and collaterals, to serving as the main currency participants use for investing in event outcomes. The total cryptocurrency supply of STX is fixed and shall be generated in its entirety during the token launch event.
Initial fundraising will commence on 2nd of August. The ICO will last 14 days or until they reach their goal of $30 million for 50% of the coins which is actually the hard cap for the taken sale. The development of the platform and Software development kit(SDK) for users will be carried out till the end of 2017. The application development will start during the 1st quarter of 2018.
Why Invest In The ICO?
Being an open source trading platform and being decentralized whilst a part of a well-established site(invest.com) who have served millions of satisfied customers since 2014 helps gain trust on the ICO and shows promise of being a world class platform, once it is set up.
There aren't many similar platforms and the leading competitor Gnosis, only sold 4% of its tokens to public and the rest was left for developers where as, Stox has a hard cap for 50% of its coins which will be distributed among the investors giving it a lot more control over the currency.
STOX have a detailed road map which shows a lot of promise to build it further and stronger. Stox thrives to specialize in managing an international working environment while dealing with regulators in regulated market when needed. Stox will present invest.com, which will be the first operator but have built a way to allow independent operators to seamlessly work through the interface with its prediction system.
This will please a lot of operators and once integrated, it will have a great ecosystem for the operators and the customers giving them a large variety and quality options. Which in return making Stox a success.
STOX ICO Conclusion:
Stox project has the experience, clientele, and seniority in their arsenal, all thanks to invest.com, which will help drive traffic to their network. If Stox manage to capitalize on the kick-start they get by being a part of a major corporation while, also getting a publicity boost via the greatest boxer to be still active in Floyd Mayweather.
It seems like it will be a fairytale smooth run for Stox. Since, Stox ICO is distributing 50% of the coins it will also give a lot of control the investors which is generally good news and has a great chance of being the best in their market.