Coinsilium Group Limited (AQSE:COIN) has updated shareholders on efforts to revive the token economics of the Indorse (IND) digital currency asset, through the use of a new decentralised finance (DeFi) based model, with the company now looking forward to key catalysts next month.
The Aquis-exchange listed investor holds a 10% interest in Indorse and owns 5.79mln IND tokens, representing around 15.37% of its circulation.
Eddy Travia, Coinsilium chief executive, said the firm is working closely with the Indorse team in the development of a comprehensive strategy to update the token model to what is being referred to as ‘IND 2.0’.
A new ‘Light Paper’ is due to be published in mid-October, to layout in more detail the proposed developments and updates which will feature in Indorse 2.0.
Coinsilium also noted that Indorse is presently exploring a potential partnership with a blockchain expert in security-audit, and noted that liquidity campaigns and trading competitions will occur in October.
"The narrative for Indorse's new token model is now taking shape with the announcement of additional decentralised features and an exciting new staking mechanism,” Travia said in a statement.
“We expect that the publication of the forthcoming Light Paper and the liquidity campaigns planned for next month will resonate well with a burgeoning market of global traders in search of new value and trading opportunities in tokens of clear utility.
“As we enter the delivery phase on this seminal project we look forward to providing the market with regular progress updates," he added.