Safe Haven has announced a brand new project called ThorBlock, labeled as a platform that users to pool funds relating to the VeChainThor blockchain. The project will enable individual investors to join in crypto-related activities which would normally be out of their price range, for instance ICOs and node staking.
The platform requires pool administrators to get started on a community pool by locking down their own personal SafeHaven tokens . Other users are able to contribute to the city pool, that might be used to raise funds for group investments.
Once the pool matures, the administrator will get the deposited funds. They may then select the project of the fact that pool has accepted fund. Afterward, the rewards is going to be divided between contributors.
ICO Investing
ThorBlock will enable visitors participate in ICOs and token sales, even though regulations and investment limits restrict them from to do so.
Many ICOs are too expensive for individual investors so are only on the market to accredited investors. Additionally, ICOs are usually off-limits to residents for the U.S., China, many other countries.
But with ThorBlock, a swimming pool operator who qualifies as being an ICO investor can put money into the token sale on the part the community pool. When the ICO is complete, the wages can be redistributed into the pool members.
Staking Nodes
ThorBlock also will allow users to collectively stake a VeChain Economic Masternode. These nodes are responsible for creating and validating blocks, and node operators receive rewards in return for.
Becoming a node is a pretty expensive investment, but because of ThorBlock, a group of individuals can fund a node together. The swimming pool administrator may well then operate the node allow the rewards to their contributors.
Previous Pools
Although ThorBlock often is the first platform of the type, crypto investors are actually arranging pools long. One blogger notes that lots of pool administrators currently use Telegram to coordinate investors that want to fund a precise ICO.
However, ThorBlock’s features may allow pool administrators to more effectively manage their contributors. The working platform will allow administrators to whitelist users to ensure that only trusted contributors can participate.
The platform will in addition allow users to put more rely upon pool operators: administrators cannot withdraw funds early, and users can revoke their own if they have second thoughts.
Admittedly, many investment pools currently use smart contracts to manipulate funds – these are definitely known as trustless pools. However, ThorBlock brings an all-in-one platform designed specifically for this purpose. The work will launch was developed October.
Note: VeChain and VeChainThor are synonymous; the work was rebranded in February.