Lisk, the new cryptocurrency platform that is setting itself up as an alternative to Ethereum, has revealed that at one week into its Initial Coin Offering (ICO), it has already raised over 1200 BTC – currently worth more than $500,000 USD. Lisk initiated its ICO one week ago, on the 22nd of February 2016, and still has three weeks remaining.
All bitcoin collected during the ICO are secured in a 2-of-3 multi-signature vault on Coinbase. Two of the multi-signature keys are being held in escrow: one by Lisk’s legal adviser, and the other one by a prominent Bitcointalk community member. An explanation of all of the ICO terms is available on the official Lisk blog.
Upon launching the Lisk network, 85,000,000 LISK will be distributed to all participants at the end of March. During the ICO, the Lisk team is accepting a wide variety of crypto-currencies including bitcoin, Crypti, Ether, Dash, Litecoin, Nxt, Monero, Peercoin, Namecoin and Dogecoin. All crypto-currencies, besides bitcoin and Crypti, will be exchanged directly into BTC, using ShapeShift technology.