- The public sale of ethbox’s EBOX token will take place today at 2pm UTC on DuckSTARTER.
- Ethbox offers a smart contract based digital escrow service that can add complete privacy for ETH and ERC20 transactions
Ethbox, an Ethereum based project for a smart contract based digital escrow service, launches its public sale on duckstarter.io today, March 25, at 2pm UTC, with whitelisting already taking place from March 18-23. The total amount of EBOX tokens available is 1,625,000, with the price per token being $0.055. A total of 2.5% of the total supply will be sold to the public.
For the sale, Ethbox is using the DuckDAO platform, a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power they need to move quickly on the path to success.
What does ethbox offer?
The project offers a solution to a problem that causes both beginners and advanced crypto users to break out in a cold sweat with every transaction: accidentally sending funds to an incorrectly entered or wrong recipient address. Ethbox aims to solve this problem by providing a smart contract based digital escrow service.
Ethbox resolves this in such a way that it works with an intermediary smart contract that holds the funds while verifying that the person receiving them has the same wallet address as the intended recipient.
In addition, ethbox also offers a solution to a second problem with Ethereum-based transactions: the lack of anonymity. For a small increase in the service fee, ethbox wraps the transaction with an additional layer of privacy. Both the sender and recipient addresses are encrypted locally on the user’s computer.
Last but not least, the platform also offers the ability to trade Ether and ERC-20 tokens over-the-counter (OTC). “This gives users a safe, reliable environment for OTC trading that is immune to any form of fraud or scam. Safeguarded by the ethbox smart contract, ethbox OTC transactions are guaranteed to take place in the only way that is acceptable, being fair and mutually beneficial for both parties,” as the team writes in its lightpaper.
The EBOX token is a deflationary token that is guaranteed by buying back and burning a portion of the fee generated. Users of the token have the benefit of reduced fees for all ethbox services, the option of staking, profit share payouts and governance voting rights, among others.
Initially, ethbox will only support the Ethereum blockchain, with other networks planned for future integration.