GEORGE TOWN, Grand Cayman--(BUSINESS WIRE)--Send (SDT), a company leading the global movement toward viable crypto adoption, today announced that its Whitelist is open to members of the public to secure positions in a limited token pre-sale, set to launch June 25, 2018. SDT is designed to serve as a reliable medium of exchange with broad utility for both technical and non-technical users. Following the pre-sale, tokens will be distributed over one year and have been supported since June 1 within the WeSend Marketplace, a global peer-to-peer money exchange network and the first application to integrate the SDT token as its stable unit of exchange.
With its token, Send introduces a new paradigm for crypto price stability. Supported within the Send Consensus Network and priced using a transparent liquidity formula, the SDT token maintains a stable reference price during fixed periods of time for low-risk, low-volatility use within the Send Consensus Network, with opportunity to grow over time with network expansion, a bonus conventional stable tokens can’t offer.
“The SDT token is designed to address the three main challenges standing in the way of massive adoption of cryptocurrencies: volatility, speculation and a lack of user-friendliness,” said Send Co-Founder and CEO Camilo Jimenez. “Using SDT, users will be able to exchange efficiently and without volatility risks through any Consensus Network Partner.”
Send’s ultimate goal with the SDT token is to serve as a universal unit of exchange, making money stable, global, and borderless. In order to achieve this, it is necessary to address crypto volatility and introduce a solution that is easily accessible and usable by all, including non-technical audiences and those outside the traditional banking system. Send rewards Consensus Network Partners to encourage trading volume and overcome the hurdle of a lack of liquidity.
As a crypto token with consensus price stability, SDT has broad potential use cases in emerging markets and developing countries, for online payments and efficient currency exchange, for savings protected from devaluation, inflation or volatility, for the creation of digital banks for unbanked markets. SDT is also an ideal solution for foreign workers with or without bank accounts sending remittances home and wanting to avoid exchange and wire fees, or in corridors not served by traditional money transmitters.
“WeSend with more than 80,000 pre-registered users and 80,000 points of payment is the first Consensus Partner to integrate SDT as its native unit of exchange and is an ideal use case for the SDT token, said Jimenez. “The exchange of money is so fundamental in our world, WeSend is a natural introduction point for people who have never used digital currencies before. We hope that following WeSend’s success, other third-party applications that could benefit from price stability will follow suit and join the Consensus Network, offering more diverse usability of the SDT token.”
WeSend is one of the most anticipated product launches in Latin America and will enter the market with a strong presence in key remittances corridors in the region. With particular focus on Venezuela, Send hopes the country will serve as a success case replicable in other, larger markets like Mexico and Nigeria and give businesses and individuals the opportunity to support migrants while increasing their revenue.
Send (SDT) was founded in 2017 by three technology entrepreneurs with over a decade of combined experience in blockchain and cryptocurrency technology. Their previous undertakings include EcoPuntos, Instateller, and Instakiosks, a network of the world’s most cost-efficient Bitcoin ATMs deployed to 120+ locations in the United States and Europe. The founding team also collaborated previously on a beta version of WeSend. The Send team consists of 15 talented individuals dedicated full-time to the creation of a new cryptocurrency economy.
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