Categories: Press Release

SaTT: A Successful ICO, Listings on BW, ProBIT, WhiteBIT and Billions of Tokens Burnt

September 30, 2020 – Since our report last week on SaTT, the smart advertising marketplace project has been listed on two more exchanges, completed a successful ICO and also implemented a token burn.

After announcing its token listing on BW Exchange, an exchange with MSB (Money Service Business) license issued by the US Treasury Department FinCEN and which is also co-founded by one of the largest miner manufacturers in the world, SaTT closed its crowd sale with USD 7.1 million, a notable ICO achievement in 2020.

The very next day was followed by its next exchange listing, ProBit, a popular digital assets trading platform that is highly ranked in Korea and also a good choice of exchange to cater to SaTT’s strong French following. 

Over the weekend, the ‘Big Burn’ was implemented. This is a common practice where tokens of a project or exchange are burnt in order to restrict its supply, done in the hopes of increasing demand for the token and subsequently also increasing its value. 

SaTT has announced that they are burning “all unsold tokens left from the crowd sale”. But the big surprise was that they were also burning additional tokens from the other token allocations. Basically, they were going to apply the percentage (47.35%) of unsold tokens from the crowd sale to ALL the other token allocations and burn that entire crop – a whopping 9.47 billion SATT. The entire supply of SATT tokens is 20 Billion. Needless to say, the news was warmly welcomed by the community. 

Early this week, SaTT announced yet another token listing, this time on the CoinGecko Top Ten ranked crypto exchange, WhiteBIT. As an EU-compliant exchange that meets KYC and AML requirements in Europe, WhiteBIT also offers one of the lowest trading fees for its crypto-to-crypto and crypto-to-fiat transactions. Definitely another welcome addition to the list of exchanges it is on. With deposits opened yesterday, the exchange is already open for trading the SATT/USDT pair today.

About SaTT

SaTT, which stands for Smart Advertising Transaction Token, is a utility token that enables advertisers to buy smart advertising services on its ethereum-based dApp. All transactions between advertisers and influencers/publishers are governed by the SaTT smart contract which ensures speed, transparency and security, and is cost-efficient. 

The SaTT dApp helps to quantify ROI by using blockchain oracles to retrieve data from 3rd-party API of social media platforms like Youtube, Facebook, Twitter, Instagram etc. Actions performed, such as LIKES, SHARES, VIEWS, TWEETS etc. can then be evaluated and if all criteria is successfully met, payments are triggered automatically from the advertiser’s preloaded budget to the wallet of the influencer/publisher. Fast, tamper-proof, secure and cost-efficient, the SaTT smart advertising system is a perfect use case of the ethereum smart contract.

About WhiteBIT

WhiteBIT is a centralized crypto-to-fiat exchange trusted by 300K+ users from 190 countries. It has the European Exchange and Custody licenses and is considered to be one of the safest platforms for trading and holding assets.

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