Waves Lab Participant Simdaq Raises $5 million via ICO

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Waves Lab Participant Simdaq Raises $5 million via ICO

The first major Waves ICO of the year has ended, reaching its hard cap in just 28 hours thanks to a partnership with the Waves Lab incubator.

Simdaq, a community trading platform, managed to raise $5 million in a little over a day. The project aims to democratise crypto trading, which is notoriously risky, by sharing insights and information, as well as allowing community members to back-test strategies using historical data and even create trading bots using their own algorithms.

“We are grateful to Waves Lab and the partners of this blockchain technology incubator for helping us with Simdaq’s ICO and reaching our $5 million hard cap in just a day. The new era of ICOs starts now with accelerators like the Waves Lab, who help really good projects get noticed,” — Simdaq CEO, Evgeniy Dubovoym, said.

The Waves Lab, meanwhile, takes promising startups that on the Waves platform, equipping them with financial, legal and technical advice, as well as marketing assistance to make sure their projects get off to a flying start. It aims to take pre-ICO businesses and ensure their success as they seek to raise money and launch.

Simdaq is one of several participants in the first tranche of Waves Lab entrants, and the result demonstrates that both Simdaq and Waves Lab are robust and have a bright future.