Categories: Press Release

Crystal Technologies Raised $2.45 Million In Their First Stage Of CRT Offering

Tallinn, Estonia, 25 Aug 2021, ZEXPRWIRE, Crystal Wallet and the upcoming Decentralised Exchanges from the Crystal Technologies team strive to provision a comprehensive suite of solutions for Inter-Chain DeFi. While DeFi related projects are ubiquitous and leading a strong trend, DeFi products in the Crystal Ecosystem have a unique edge of harmony-by-design. The interplay between their wallet and inter-chain DEXes catch investors’ eyes with positivity. This is evidenced by their successful completion of the first stage in their ongoing token crowd sale, raising $2.45 million from more than 15,000 participants from 72 countries. These statistics are accumulated over a span of 16 days, which highlights the confidence that the market has given them.

The Crystal Technologies team states in their community announcement that they will spend a significant portion of the raised fund on the development of their DEXes, aptly named CrystalSwap. They also share that they are making good progress and staying ahead of schedule. One notable bit in their ongoing development of CrystalSwap is the transparency. The team periodically releases the smart contracts which constitute the CrystalSwap on their Github as they make progress.

As DeFi adoption is on the rise, yet the current blockchain infrastructures are somewhat isolated, the need for Inter-Chain solutions are of great importance. Let us consider, for example, Binance Smart Chain (BSC), and Tron. Their primary token standards are BEP20 and TRC20, respectively. As popular as these blockchains are, they provide no native mechanism for a BEP20-compatible smart contract to deal with a TRC20-compatible counterpart. Consequently, one is not able to trade BEP-20 assets on Tron-powered DEX, or vice versa. Such necessity can be enabled via the use of Inter Blockchain Communication (IBC). Unfortunately, few DEX readily incorporate IBC in their platform. Crystal Technologies set out to do exactly this, provisioning a host of DEX on BSC, Tron, Ethereum, Solana, Cardano, and then connecting them all into a web of DEXes via IBC. This is a challenging technical feat, and it appears the team is ambitious and competent enough to pursue.

Beside pushing forward on technicality, Crystal Technologies will also spend a portion of the raised fund on social marketing to further boost their presence. They currently run a series of bounties. Most notably among them are their Youtube Contest with a total reward of $5,000 and their Build-Up Bounty with a total bounty reward of 3,000,000 CRT. A few simple steps such as following their Twitter or subscribing to their Youtube will earn participants 200 CRT.

After the successful conclusion of the first stage, their token sale has entered the second stage, which offers 146M CRT at the unit price of $0.03. They include a handsome promotion in their token sale, giving bonus to investors who make their purchase during the golden hours.

The team recently announced that they would conduct the Launchpad Sale for their CRT on P2PB2B (the platform is featured among the top 15 exchanges by CoinGecko). The Launchpad Sale comprises two sessions, spanning the duration from 21^st till 30^thNovember, with unit price of $0.05 and 0.06$, respectively.

Crystal Technologies’s token sell strategies remind us of another project that did their Launchpad in July, and hit All-Time-High just a few days ago, yielding a ROI of 80 times over their launchpad sale price. With the bull season expected to continue to the end of year, Inter-Chain DeFi projects still have enormous room to grow.

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