The ICON Foundation has just announced another partnership, this time with the financial services platform and cryptocurrency exchange VELIC.
Yes, that VELIC, about whom we posted yesterday.
According to the announcement, the partnership would offer projects working with the ICX Station accelerator program as well as existing ICON DApps an opportunity to be listed on VELIC’s exchange, making it easier for these projects to seek liquidity.
ICX Station will support DApp projects through the entirety of the development process, providing business and technical consulting and helping with the issue and sale of tokens.
VELIC, meanwhile, will provide fundraising consulting and support the listing on its exchange of new and existing ICON DApps that pass a due diligence process. An internal committee will screen the projects to determine if they should be listed and how, be it as an Initial Exchange Offering or an Initial Auction Offering. VELIC will offer various promotions to projects that pass the screening, too.
ICON hopes that the deal will give existing DApps easier access to IRC2 liquidity and provide new DApp projects incubated by ICX Station a new path to the open market.
As the financial backbone of ICON’s ecosystem, VELIC will assist high-quality projects with their token issuance, fundraising and listing, as well as offering long-term corporate finance and asset management services.
Jonghyup Kim, Council Member of the ICON Foundation, said in a press release, “In order to vitalize the DApp ecosystem, securing a distribution channel for cryptocurrencies is crucial. ICON, through cooperation with VELIC, will increase user accessibility for high-quality blockchain projects and accelerate the expansion of blockchain ecosystem.”
Timothy Yang, the Chief Strategy Officer of VELIC, said in the same press release, “We look forward to discovering more diverse blockchain projects through cooperation with ICON. As the financial backbone of ICON’s ecosystem, VELIC will assist high-quality projects with their token issuance, fundraising, listing as well as long-term corporate finance and asset management services so as to increase demand for ICON DApps and to contribute to the expansion of ICON’s ecosystem.”