MADANA: The First ICO on the Lisk Blockchain Starts in August

MADANA ICO, the first ICO on the Lisk blockchain will launch a whitelisting for the PAX token

On August 1, the startup MADANA, based in Berlin, will open whiteslist sign up for the PAX tokens presale. The upcoming campaign will be the first major ICO to be held on Lisks blockchain.
The MADANA start up is developing an open platform for data analysis, focusing on its privacy. Based on the Lisk blockchain, ecosystem will allow users to control their own data, as well as offer solutions for their anonymous monetization.
In addition, the project aims to provide data processing methods that will comply with the provisions described in the May EU General Data Protection Regulation (GDPR). This, in turn, will create new business models for future decentralized applications (DApps).

“One of the main advantages of using Lisk is its sidechain technology. By deploying own sidechains, dApps can scale and develop better without fearing that other dApps impact them negatively because they operate on different chains. The upcoming release of Lisk Core 1.0 mark an important milestone towards this technology.” stated in MADANA blog.

MADANA team also notes the role of Lisk CEO Max Kordek, who from the very beginning acted as their adviser. In January of this year he invested in MADANA €200.000 from his own investment fund Pioneer’s Vault.
MADANA team will  conduct ICO with the approval of the German The Federal Financial Supervisory Authority (BaFin). As it stated on the campaign page, the project has established a hardcap of 37.5 million euros. The main stage of ICO starts on September 1, 2018.

Weiss Ratings about Lisk blockchain

Earlier this year, analyst of the independent rating agency Weiss Ratings, Juan M. Villaverde, criticized the excessive, in his opinion, focus of the Lisk platform on the sidechains. He also called into question Lisk competitiveness among other leading platforms for developing blockchain applications such as Ethereum, EOS and Cardano . Representatives of Lisk, however, did not agree with this assessment, noting that the platform has tools to simplify the work of developers who are trying to create a new sidechain or to use an existing one.

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