The blockchain venture and advisory firm will assist Indorse on a new strategy for its IND token to enhance its trading liquidity
() said it has signed its first decentralised finance (DeFi) deal with skills validation platform Indorse.
The blockchain venture firm said the DeFi services advisory agreement will see it assist Indorse on a new strategy for its IND token to enhance the token’s trading liquidity, which will include engaging in liquidity incentivisation campaigns to ignite interest from liquidity providers.
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Coinsilium said there has been a “marked divergence” between Indorse’s operational business model and the performance of its IND token which it said has been underutilised. Under the deal, the company said it will recommend strategy and solutions to attract liquidity providers to the IND trading venues and work with Indorse on the design of a new token utility model.
“Indorse has achieved impressive milestones since its Initial Coin Offering (ICO) in 2017 however the Indorse token has not yet benefited from these successes. Given the current cryptocurrency market trends and the innovation boom we are now seeing in the DeFi space, we see the coming months as an exceptionally opportune period for us to be working with the Indorse team on the creation of a new DeFi focused token model with the objective of reviving the IND token to demonstrate its potential under a new light whilst preserving the Indorse community values”, Coinsilium chief executive Eddy Travia said in a statement.
“It is important to note that there are hundreds of post-ICO projects whose tokens are in similar situations with many of them eager to reshape their token models. We are confident that we can access and secure a significant share of this market given our industry record of building a successful advisory services business during the ICO growth years”, he added.