TIME, the Ethereum token representing a stake in ChronoBank, has been added to several exchanges, with other exchanges lined up in the future. ChronoBank is a blockchain-based project that takes aims to renovate the short-term recruitment sector. By placing buyers and sellers of labour in direct contact, and paying in a native Labour Hour token (LH), the platform offers the possibility of substantial savings for employers, since it cuts out the expensive middlemen of the recruitment industry. As the present time, employers can end up paying up to 40% of annual wages to secure a suitable candidate.
The cryptocurrency community has backed this initiative with over $5.4 million of bitcoin and other currencies, including a $1.1 million VC investment. After ChronoBank’s ICO ended in February, a total of 710,113 TIME tokens were created on the Ethereum blockchain and distributed to supporters.
As a cryptographic token, TIME can be held securely in an Ethereum wallet, transferred freely to other users, or traded on exchanges. In due course, when ChronoBank’s LaborX exchange launches, TIME tokens will be eligible for the rewards that will be collected from activity on the platform.
There are several options for trading TIME tokens:
Livecoin is an exchange that opened in 2015. Registered in London, the exchange has undertaken a series of measures to make it an attractive destination for traders, including lowering fees and offering VISA cards for rapid and easy withdrawal of funds. Currently, the majority of TIME’s volume occurs on Livecoin, as recorded by CoinMarketCap.
Liqui is a fairly new and relatively small exchange, but one that has a dedicated core of traders. Liqui is often quick to add new coins. At the present time, Liqui leads on price.
Mercatox is a professional trading platform for digital currencies. Although it focuses on bitcoin, it has taken the decision to add TIME as well, judging it to have potential and appeal to their traders.
EtherDelta is a decentralised exchange built on Ethereum. More tech-savvy users will be able to trade peer-to-peer, without any risk of hacking or the failures that come with centralised exchanges.
Sergei Sergienko, ChronoBank CEO, commented: ‘ChronoBank are actively exploring listings with larger exchanges, and working closely with them to ensure that both compliance and technical requirements can be met. The nature of this is that it can be a relatively drawn-out process, because it needs doing right, though rest assured that we are working as fast as we can from our end.’