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Entoro to Act as Placement Agent in Upcoming Leonovus ‘Galaxa’ STO

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Entoro to Act as Placement Agent in Upcoming Leonovus 'Galaxa' STO

Leonovus and Entoro

In an effort to round out the services and capabilities of their upcoming Galaxa STO, Canadian based Leonovus has engaged Entoro Capital. This engagement will see Entoro act as a ‘placement agent’ – meaning through the use of Entoro’s ‘Offerboard’ platform, investors will be able to easily access and purchase Galaxa Tokens (GAAX).

Galaxa

Galaxa is a blockchain based project, developed by Leonovus, which is scheduled to undergo an STO in the coming months. This event will see the distribution of GAAX tokens based on Securitize’s ‘DS-Protocol’.

Galaxa is described by Leonovus as ‘the first cloud Anything as a Service (XaaS) distributed storage and compute shared economy marketplace’.

Commentary

In making their announcement, representatives from each, Entoro and Leonovus, took the time to share their thoughts. The following is what each had to say on the matter.

James C. Row, Managing Partner of Entoro, stated,

We believe this is an excellent opportunity for investors in the data center or related businesses as the Galaxa project will take cloud computing to the next level of service globally.”

Michael Gaffney, CEO of Leonovus, stated,

Our vision is for Galaxa to become one of the largest data centers and cloud service providers in the world without owning any data centers. The GAAX digital security offering, to accredited investors only, is a rather unique investment instrument as the holder of GAAX will receive monthly distributions as a percentage of the top line Galaxa revenues.”

CFO

This was an especially busy few weeks for Leonovus, as they have, not only established a new partnership, but on-boarded new talent as well. This move saw George Pretli replace Chris Benk as CFO of Leonovus.

Michael Gaffney, CEO of Leonovus, spoke on the appointment, stating the following.

“Given the early stage of the company, and the fact that we have a solid outsourced accounting service, we believe the CFO workload did not require a full-time employee.  We thank Chris Benk for helping us build the company over the past year and his efforts to support the Galaxa project’s financing. George has extensive CFO and Corporate Secretary experience with a TSXV listed company. He will be an excellent addition to the executive team.”

Leonovus

Leonovus is a Canadian company which calls Ottawa, the nation’s capital, home. Since launching operations in 2010, they have worked to develop enterprise level storage solutions. Naturally, this means gravitating towards the latest tech – blockchain.

Company operations are overseen by CEO, Michael Gaffney.

Entoro

Entoro is a global investment bank which operates out of Houston, Texas. Under the watch of Managing Partner, James C. Row, Entoro has expanded to offer a variety of services targeted towards blockchain and digital securities.

In Other News

Since their initial decision to pivot from an ICO to and STO, Leonovus has made great strides in establishing partnerships to facilitate the process. Beyond the events discussed here today, these partnerships include Securitize, Rocktree Financial, and DigiMax. Check out the articles below to learn more about these moves.

DigiMax to Consult During Leonovus Security Token Offering

Leonovus to Use Securitize to Host Security Token Offering

Leonovus to use RockTree during Security Token Offering

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Joshua Stoner is a multi-faceted working professional. He has a great interest in the revolutionary 'blockchain' technology. In addition to this, he is a licenced Paramedic in Nova Scotia, Canada. As such, he can provide emergency care/medicine to any situation necessitating it.

Security Token News

Libra to Utilize KoreConX in Upcoming Digital Security Offering

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Libra to Utilize KoreConX in Upcoming Digital Security Offering

African DSO

KoreConX has recently announced that they have been chosen by Libra Project to host an upcoming digital security offering.

This event will see Libra Project raise capital for their green initiative. Primarily, Libra Project is working to develop renewable energy sources, with the goal of bringing 1st world amenities, such as reliable power, to 100 million humans.

This endeavour represents the first fully compliant DSO to target, and be hosted, within Africa and the Middle East – also the primary regions in which the project can affect the most change.

Commentary

In making the announcement of their partnership, the CEO of each, KoreConX and Libra, took the time to comment. The following is what each had to say on the matter.

Hans Fraikin, CEO and Cofounder of Libra Project, stated,

“Libra Project is thrilled to enter into this new partnership with KoreConX…Their world-class digital securities asset management protocol will accelerate our plan to become the first fully compliant DSO (digital security offering) in the Middle East and Africa. Ultimately, this partnership supports Libra Project’s mission of democratizing access to impact investments all the while bringing clean energy to hundreds of millions of people in Asia and Africa.”          

Oscar Jofre, CEO and Cofounder of KoreConX, stated,

“The Middle East is a very important region for us. We want the regulators and companies in the Middle East to know that there is a provider that does things the right way and will meet their regulatory obligations. We are truly glad that more and more companies are starting to realize the transformation that comes with blockchain, and the ways it can simplify doing business.”

Libra Project

Libra Project is a U.K based company, operating out of London. The company maintains satellite offices in a variety of locations, including Abu Dhabi. Libra Project is actively developing their own service, known as Blockchange. This will act as a bridging platform, connecting green initiatives start-ups with interested investors.

Company operations are overseen by CEO, Hans Fraikin.

KoreConX

KoreConX is a New York based company, which was founded in 2016. Through their KorePartners Ecosystem, and in-house services, this young company is able to offer clients a comprehensive digital securities issuance platform.

Company operations are overseen by CEO, Oscar Jofre.

In Other News

Libra represents a growing trend surrounding ‘green’ projects. Another company which is utilizing blockchain to tackle global issues is Almond. Not only did we recently detail their company, but we had the pleasure of interviewing their CEO. Check out the following articles to learn more about Almond, and what they are doing to better the world.

Almond – Be the Chance the Earth Needs

Interview Series – Almond CEO, Oliver Bolton

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Securitize DS Token Protocol goes Open Source

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Securitze Goes Open Source on DS Token

The security token issuance platform, Securitize raised eyebrows amongst the cryptocommunity this week after releasing its DS Token code to the public. The move goes along with the crypto sectors long-held stance of open-source projects. Now, programmers from across the globe have a chance to test and advance the platform’s core coding.

News of Securitize’s decision spread quickly after the announcement was made at Coindesk’s latest Consensus 2019 conference. Consensus is one of the largest blockchain conferences in the world. Securitize used the hugely popular seminar to ensure their announcement received the proper attention and publicity the company desired.

A Proven Standard

Discussing the decision, Securitize co-founder and CEO,Carlos Domingo first explained how Securitizes’ Digital Securities Protocol proved itself over the last year. He then took a moment to explain why the decision opens many doors for the company.

Securitize via Homepage

Securitize via Homepage

Domingo sees a future where developers are now able to create and test Dapps based on the Digital Securities Protocol (DS). Dapps are a crucial component of any token standards in the marketplace. As a result, analysts continually point out that the Dapps propel a project forward.

Dapps are Important

For example, Ethereum is by far the most widely used platform to launch security tokens. In most instances, security tokens launch as a variant to the ERC-20 protocol. The main difference being that these tokens also include the necessary regulatory compliance mechanisms found in security tokens. Likewise, ERC-based Dapps are among the most prevalent in the market.

Now Securitize wants to capture some of the excitement and added functionality that Dapp developers bring to the table. Domingo commented on the need to provide these developers with a viable venue to actually make a difference with the code.

In a company blog post, Securitize elaborates on this theory. Here, Securitize states the importance of their strategy. Basically, the firm spent the last year perfecting their coding and proving that it is reliable enough for real-world use. Now, the DS protocol is ready to go to the next level.

DS Token Protocol

According to the blog post, the goal of the DS protocol is to provide the “proper Digital ownership Architecture to address all aspects of the digital securities lifecycle.” Company officials now hope that the cryptocommunity will step up and really put the DS protocol to the test.

DS Token Code

The newly released coding includes five main interfaces in which developers can interact, test, and build on the coding. The first component is the DSServiceConsumerInterface. This portion of the coding is what enables the other component to interact in a seamless fashion.

Next, the DSTokenInterface is the actual token protocol. As expected, the coding shares many aspects of the ERC-20 protocol but with some key differences. These upgrades include investor-centric balances.

The DSTrustServiceInterface is where developers can assign trust roles in the context of the DS token. This is how developers are able to authorize high-level users and developers within the platform.

A DSRegistryServicesInterface is used to define the Registry Service of the tokens. This is where the token holds all relevant ownership information. Consequently, this section is a critical component when discussing token compliance.

Finally, the DSComplianceServiceInterface is how tokens are able to continually check to ensure compliance throughout its lifecycle. Secondary compliance concerns are a major issue in the security token sector. This protocol is what enables DS tokens to remain within the legal guidelines of digital securities. Importantly, this protocol plays a major role in secondary market compliance as well.

Securitize Steps up its Game

The decision to go open-source is a smart one on the part of Securitize. The crypto sector was built on open-source projects such as Bitcoin and Ethereum. Securitize is now in line to continue this legacy and push its DS token protocol to new heights.

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DigiMax Designated ‘Exempt Market Dealer’ by OSC

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DigiMax Designated 'Exempt Market Dealer' by OSC

Designation Granted

DigiMax has recently announced that they have successfully been granted a designation as an ‘exempt market dealer’.

This designation, doled out by the Ontario Securities Commission, will allow for DigiMax to issue digital securities on behalf of their client, without the need for a prospectus. As a result, DigiMax will see their advisory, and issuance platform, become more flexible, providing client easier access to capital.

Exempt Market Dealer

For the majority of companies issuing securities within Canada, a prospectus is needed to remain regulatory compliant. There, however, exists a subset within capital markets, which allows for companies to forgo this step. This subset is known as an exempt market, and typically indicates that less protective measures are put in place for companies granted exempt status.

For more information on exempt markets, and those taking part, click HERE.

Prospectus

A prospectus is a form of documentation which is typically required by regulatory bodies, such as the Ontario Securities Commission. The documentation consists of a thorough outlining and description of a companies planned actions, pertaining to a capital generation event.

Commentary

In making their announcement, DigiMax CEO, Chris Carl, took the time to comment. The following is what he had to say on the matter.

“We are very excited to have been granted registration as an EMD in the jurisdiction of Ontario in Canada…This registration allows us to serve Ontario based corporations and investors as an exempt market dealer in various forms of funding, and to market such offerings to institutional or accredited investors. Working with our growing network of similarly registered dealers in other countries, DigiMax Global Solutions is well on its way to becoming the leader of a global syndicate of dealers able to assist companies to raise capital around the world.”

DigiMax

DigiMax is a Canadian company operating out of Toronto, Ontario. Since operations were launched in 2017, DigiMax has developed a platform which facilitates capital generation events in the form of digital security offerings.

Company operations are overseen by CEO, Chris Carl.

Ontario Securities Commission

The Ontario Securities Commission (OSC), is a government run, regulatory body, which oversees the enforcement of various acts. Each of which has been designed to protect investors through the creation of fair and honest markets.

In Other News

The digital securities sector has seen various large developments as of late. We have seen huge conglomerates make their entrance, while existing industry participants hone their platforms and services. Here are a few noteworthy events from recent weeks.

Calibra – A Product of Facebook, Built on Two Tokens

BnkToTheFuture to Utilize Altcoin.io for Security Token Exchange

Coinbase Custody Adds Support for Digital Security ‘BCAP’

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