EOS is trading on Kraken now... Huh????
Im so confused? I thought EOS tokens were not being released for a year?
And isn't the ICO price just under $0.70 each? Why and how is Kraken selling them for $1.70?
I don't think these are IOU's because Kraken has never sold IOU's.
How is this possible?
What's being traded is the ECR20 EOS Token, which investors are purchasing during the ICO period before EOS is actually launched. Investors during the first 5 day window are now claiming their tokens and begining to exchange/trade on platforms like Kraken and Bitfinex etc.
So these will be the same ERC20 tokens that i am purchasing through the ICO that will be release to me in a year, correct?
The idea is that you will also need to "register" your EOS public key with the contract which ties your ERC20 balance to what will be created during the genesis of the EOS blockchain.
You're essentially just buying a ticket and putting your name on the list for when EOS launches, in the meantime you're trading the tickets which will be redeemed later.
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I see the pump but where is the dump... Please dump