Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) has signed a Simple Agreement for Future Tokens (SAFT) with the Otomato Web3 Automation Protocol.
The agreement involves an initial purchase of $75,000 (£59,000) of future tokens in an early backers round, with an option for an additional US$150,150 under the strategic token allocation pricing and vesting terms.
The Otomato Web3 Automation Protocol aims to simplify blockchain application development.
Its decentralised application, Otomato.xyz, allows users to create and automate Web3 trading strategies without coding skills.
Coinsilium will earn 7.5% of revenues from the Otomato.xyz platform up to the Token Listing Event (TGE), expected in 2025. Revenues will come from affiliate fees and transaction fees initiated on the platform.
Otomato has been chosen to participate in the MODE Yield Accelerator. MODE Network is an Ethereum Layer-2 blockchain focused on decentralised finance (DeFi).
Eddy Travia, Coinsilium’s chief executive officer, called the investment “a great opportunity to join a highly promising venture with substantial growth potential at a very early stage”.
“By removing the necessity for coding skills, Otomato revolutionises the practice of executing sophisticated Web3 strategies,” said Travia.
Traditionally, this process requires coding expertise, but Otomato allows users to “take advantage of advanced strategies without sacrificing security or control”, he added.
“Users retain full ownership of their crypto assets, ensuring that automated on-chain actions align perfectly with their trading goals and risk preferences.”