Eidoo, a Chiasso, Switzerland-based developer of a mobile app for iOS and Android that leverages the blockchain in one single user-friendly environment, raised $27.9M in an ICO.
The company, which also announced that Eidoo tokens (EDO) are listed on HitBtc, the European cryptocurrency exchange, against the pairs Ethereum, USD, and Bitcoin, will use the funds to accelerate its development road map to integrate a hybrid exchange, a Bitcoin wallet, an Eidoo-branded debit card, and a raft of innovative add-on services that will enable customers to use a single mobile app where they can buy, sell, convert and spend digital currencies with ease.
As a multicurrency wallet, Eidoo supports Ethereum and all ERC20 tokens automatically, so there is no need for users to set up a new wallet every time. Built on top of the Ethereum Blockchain, EDO is an ERC20 token necessary for users to pay fees for the services offered in the Eidoo app.
The net revenue from all the value-added services linked to the Eidoo app will be collected in EDO tokens by a public auditable smart contract that will divide it as follows:
– 50% will represent the revenue flow for the companies involved in the Eidoo project providing the added value services;
– 50% will be a voucher for the service. The voucher will be deleted from the blockchain after its use, effectively forwarding these tokens in a burn address that doesn’t have a private key to move funds from.
Eidoo is a multi currency wallet and hybrid exchange for blockchain assets, and a human-to-blockchain interface for all cryptocurrency needs. Eidoo is available to download for free from the iOS app store or from the Google Play Store for Android.