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Today we bring you more information about the latest announcement on Bitpanda: IOST, which stands for “Internet-of-Services Token”. To celebrate our latest addition, we are happy to announce that our Bitpanda users have the chance to win prizes worth a total of € 15,000 in IOST! Find out how below.
Update (June 29, 2021): Thank you for participating and congratulations to the lucky winners. All prices have been paid.
IOST was founded in 2018 by serial entrepreneur Jimmy Zhong, who launched start-ups in the United States and China. His vision for IOST was to create a fast and decentralized blockchain technology infrastructure, making it scalable for global adoption and more attractive for large companies to use blockchain technology.
True decentralization thanks to “proof of credibility”
IOST uses its proprietary algorithm called “Proof of Believability” (PoB). As an alternative to “proof of stake”, PoB relies not only on the token balance, but also on the “credibility score” of the nodes which is based on the transaction history of the node. This concept enables true decentralization thanks to hundreds of nodes supported on the network, high levels of security, ultra-fast and gas-free transactions and high throughput. To date, over half a billion transactions have been processed and around 4.56 billion IOST have been put into play.
Rising IOST token prices
The name refers to both the foundation and the token. The IOST foundation is supported by venture capital firms such as Sequoia Capital and Matrix Partners. Japan’s financial services agency has given regulatory approval to the IOST for trade in the country, boosting its confidence in the project. The IOST has a maximum supply of 90 billion tokens with a total circulating supply of 16.5 billion as of June 2021.
IOST and NFT
More recently, IOST also joined the NFT game. While non-fungible tokens were originally created on the Ethereum network, IOST wants to provide an alternative with its own NFT standard, aimed at being more cost effective than Ethereum’s NFT infrastructure.
To celebrate the announcement of the IOST on Bitpanda, don’t miss your chance to win IOSTs: our contest starts at 12:00 p.m. CET on June 18, 2021 and ends at 11:59 a.m. CET on June 25, 2021.
Are you ready to win? So here is what you have to do. Discover the IOST on Bitpanda and diversify your portfolio by acquiring IOST. The more IOST you buy, the more likely you are to receive an additional € 2,000 in IOST or one of the many other prizes – start trading IOST now.
Here are the prices:
Lot 1: € 2,000 IOST for the trader in 1st place
The trader ranked first with the highest total IOST purchased amount will receive € 2,000 in IOST!
Lot 2: € 1,250 in IOST for each trader ranked from 2nd to 5th place
Traders ranked between 2nd and 5th place with the highest total IOST purchased amount will each receive € 1,250 in IOST!
Lot 3: 800 € IOST for each trader ranked from 6th to 10th place
Traders ranked between 6th and 10th with the highest total IOST purchased amount will each receive € 800 in IOST!
Lot 4: € 400 IOST for each trader ranked from 11th to 20th place
Traders ranked 11th to 20th with the highest total amount of IOST purchased will each receive € 400 in IOST!
Lot 5: € 200 of Bitcoin for 75 merchants selected at random
As a bonus prize, 75 traders (apart from the 20 winners from the prizes listed above) who are not residents of the Republic of Turkey, who are the BEST VIP level 1 and above and who are negotiating an amount of IOST will be randomly selected to receive € 200 of Bitcoin each!
Please note that the exclusion of residents of the Republic of Turkey from selection as VIP winners is based solely on the legal requirements of the Republic of Turkey. The value of the IOST for the calculation of the price fund is indexed to its exchange rate on May 28, 2021; the respective conversion rate used will be 1 IOST = 0.02660376 €.
Good luck to everyone – Buy IOST now!
You can read the terms and conditions here and we will credit the winners within one week of the end of the contest. The prizes will be credited to the respective Bitpanda wallets.