VIABET Reaches ICO Soft Cap in Less Than 24 Hours, Reveals Plans for Token Burn Strategy

By News BTC Dec 4, 2017 3:28 AM EST

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The VIABET ICO team is glad to announce that it has reached its soft cap of 300 ETH and will continue to raise funds. 364 ETH were collected during the Pre-ICO stage, which has closed its doors to new investors November 21st.

During the Pre-ICO stage, a limited portion of tokens were available for purchase with a 40% discount. The main ICO is scheduled for December 11th (6:00 PM UTC) giving its supporters one last chance to get in on the profit that VIABET’s future growth will generate.

During the first week of the public ICO, 1 ETH will give investors 1200 XVIA tokens (a 20% bonus). The offer expires in 7 days from the start of the sale.

VIABET is a technological launching pad that allows players to not only actively take part in online gambling through blockchain-based cloud betting, but to also actually become the house and host their own casino games. From roulette to poker to dice games, players can set up their own virtual casino and enjoy house odds as other players bet against them.

No other online gambling platform offers anything remotely similar to what VIABET is bringing to the table.

VIABET is Burning More Than 40 Million of Its Tokens

VIABET have revealed their long-term strategy to raise the value of XVIA tokens. To reduce the overall XVIA token supply from 70 million (70,000,000) to 7 million (7,000,000), meaning a 90% decrease.

Historically when a company burns (destroys) or locks a number of tokens it causes the price to increase. This is due to the law of supply and demand. Since there are less tokens available for trade the tokens that are available for trade become more valuable. XVIA tokens are needed to use the VIABET platform. XVIA is a cryptocurrency based on the Ethereum technology that allows to create a fair, autonomous cloud-based betting environment for all users.

VIABET will be having two (if necessary) token burn events, each at major milestones which will allow to raise the value of XVIA at key points:

BURN 1: The first burn will happen on December 10th (6:00 PM UTC) (70 million to 7 million), this will give a buildup as they move into their Public ICO stage.

BURN 2: The second burn will happen in the event that not all 4.4 million tokens are sold and distributed during the Public ICO. It will take place after listing on its first official trading exchange, EtherDelta (Planned for as early as December 18th if all 4.4 million tokens are distributed during that time, otherwise the listing date is scheduled for January 7th, 2018)

With each burn VIABET aims to achieve a high level of stability and steady overall price increase.

Public ICO to Begin December 11th

The VIABET ICO is set to begin December 11th, 2017 (6:00 PM UTC). However, only 4.4 million XVIA Tokens will be sold during the Public ICO. As the ICO is capped at only 3700 ETH, it is predicted to sell out and close its doors to new investors long before its January 7th deadline is hit. In addition, VIABET has early bird discounts in place to incentivize investor participation, a 20% bonus for early investors is up for grabs.

The project has already met its minimum (soft cap), which was $100,000. Thus, even if it does not hit 100% of its goal, it is still moving forward with its development roadmap and marketing initiatives.

VIABET is primed to become the 800-pound gorilla of the online gambling industry by taking advantage and fully utilizing blockchain technologies in a new and unique way

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