When it was time to launch its ICO, Stratis had no fear. Check out the last entry in our ICO series.
What is Stratis?
Stratis is all about that BaaS: blockchain as a service. They were the first company to offer sidechains to clients. These private blockchains afford clients a great deal of flexibility and independence: they’re allowed to customise it to their specific requirements without affecting the primary blockchain – thereby eliminating the risk of a failed token.
Beyond the main BaaS offering, Stratis created Breeze Wallet, the first wallet to have a built-in Tumblebit, an anonymous payments protocol. It also launched its own in-house academy for developers, where they can hone their skills with the platform.
Who was behind it?
Created by a team with extensive experience in C# and .NET technologies.
How much did it raise?
Its July 2016 ICO saw it raise an equivalent of 915 Bitcoin in 5 weeks ($675k as of May 2018). Some 98 million tokens were distributed thereafter – and no more will ever be distributed. If you bought Stratis at its initial cost of $0.01, you could have potentially seen a return on investment of 56,000%. As of May 2018, its price was set at $7.55.
Why was Stratis’ ICO a success?
Stratis had a strong proposition. Since Ethereum only offers smart contracts to build applications on its blockchain, and since Bitcoin’s sidechain attempts so far have failed, Stratis is a pretty big deal. Enterprises can use it to launch blockchain applications – without having to pay the cost and deal with the hassle of building and maintaining their own blockchain infrastructure.
The Stratis platform also benefitted from its complementary tech. It’s compatible with .NET and C#, which makes it particularly appealing to long-time users of Microsoft products. By removing the need to create, test and deploy custom applications, it greatly simplifies the process of developing blockchain tools. Being highly compatible with and complementary to Microsoft projects has other advantages in terms of legitimacy and popular status.