In their latest announcement, ZPX, a next generation decentralised market in the blockchain industry based out of Singapore, has welcomed Eyal Hertzog of Bancor as its board member. He will be one of the advisors to 108 Token, which is ZPX’s crypto index project. Eyal will be joining in as an advisor to a board that includes names such as Balaji K Srinivasan, Silicon Valley crypto veteran and co-founder of Counsyl and HongZhuang Lim, CEO of ZSQ.
Eyal has been a venture-backed technology entrepreneur who has more than two decades of experience. His latest venture, Bancor, is a decentralised platform which provides users with a unique, efficient and low cost method of exchanging tokens online. But this is not where his journey began. He became famous as a co-founder of Metacafe, one of the fastest growing and largest video sharing site in Israel. It has its head office currently in San Francisco. At its peak, Metacafe garnered more than 50 million unique users.
ERC-20 token is the base on which all exchanges will be processed on the platform. The Token’s distinction is that the proceeds generated from its sale will be invested in a basket of 15 of the best-performing coins and initial coin offerings (ICOs) which are dynamically re-adjusted every month based on future supply, not current supply.
108 Token is a dynamic product in the sense that it will track the performance of the best 15 cryptocurrencies that will include ICOs as well. It is an ERC-20 token that is traded on both centralized as well as decentralized platforms. This basket will ensure that none of your funds will be subjected to any kind of fluctuations and comes with 100% transparency and liquidity.
Aditya Mishra, co-founder and COO of ZPX says, “Eyal is a highly motivated individual and a visionary technopreneur. We are delighted to have him on board as he has proved time and again a keen sense of identifying emerging tech trends and executing his plans with full focus and diligence.” He believes Eyal will provide the right kind of insights and prove instrumental in the successful roll-out of the project.
108 Token’s decentralised platform allows users to have control over custodial risks that is enabled by retaining control over personal funds and data. The tech experts in 108 Token ensure that they manage the secure flow of transactions in the platform by mitigating all risks.
ZPX has raised US$ 1.3 million in seed funding to launch 108 Token led by SeedPlus, a Singapore-based seed-stage venture capital firm which typically invests in early-stage companies on market terms. Other investors include Gokul Rajaram and Milliways Ventures from San Francisco, as well as Girish Mathrubootham, Anand Lunia and Nithin Kamath from India-based financial services firm Zerodha.
ZPX is a Singapore-headquartered investor and builder of next-generation assets in the blockchain space. Previous investors include Gokul Rajaram & Milliways Ventures from San Francisco in addition to Girish Mathrubootham, Anand Lunia & Nithin Kamath of Zerodha. The Company is currently working on a number of token products & the building of a decentralized exchange. ZPX is in the process of launching 108 Token, an ERC20 token built on top of Ethereum, that will dynamically re-adjust every month to the top 15 Crypto token assets based on their proprietary indexing methodology. The firm’s tech platform initiatives are supported by a dedicated crypto research and analytics division.
Source: 108 Token