Details of the Countinghouse Fund ICO

The Countinghouse Fund ICO is already underway and will continue through June 11th.

It allows purchase of tokens either using ETH or using Paypal, but a note on the website indicates that Paypal investments are manually brokered and those tokens will not be dispensed into wallets until the crowdsale completes.

As of 5pm Eastern on May 31st, the indicator on the website showed that a total of 5,873,438 CHT had been sold.

CHT tokens are ERC20 compatible and have been priced at 1000 CHT per 1 ETH. The token sale cap is 50,000,000 CHT (which equals 50,000 ETH, or about $30m USD at current market prices). According to the whitepaper, they plan to raise 20,000 ETH, but do not consider this a soft cap, because they raised enough from existing investors to make the fund viable.

A total of 5,215,000 were privately sold to existing investors in Countinghouse Fund – presumably meaning their fiat currency fund, rather than their crypto fund. It’s a bit unclear, but I assume that these tokens are included in the running total displayed on the website.

Up to a possible 30% bonus tokens were available those who invested in the pre-sale and a 15% bonus to those who invested in the first seven days of the public ICO. Additionally, 1% (200,000 tokens) have been issued to the Countinghouse Fund team.

60% of funds raised will be used for currency algorithmic trading. 30% will be used for double-sided arbitrage strategies. The remaining 10% will be used for passive reserve (debentures and ICO investment).

For the Countinghouse Telegram group, go here

For Countinghouse announcements, go here

For Counting house bounty info, go here