Shivom’sOmiX token sale is the first time backers can hedge their contribution risk as a result of partnership with decentralized risk hedging platform DeHedge
Shivom, the blockchain genomics platform that is aiming to build the world’s foremost genomic data-hub to power personalized healthcare, has signed an agreement with decentralized risk hedging platform DeHedge that will allow contributors in its token sale to hedge the risk associated with their contribution in OmiX tokens.
In the first partnership of its kind, which will result in a world-first event for the token sale and cryptocurrency markets, DeHedge has hedged Shivom’sOmiX (OMX) tokens for a total of $3 million. The risk hedging platform, which helps safeguard contributors against all manner of unforeseeable changes, can guarantee a 50% coverage of risks when a hedging event occurs.
“As we prepare for the main sale of our token, we’re keen to put in place any and all mechanisms that encourage potential contributors to get involved in a project that will transform the precision medicine market. Our partnership with DeHedge is a great example of this approach, one that we believe will help to build momentum in the project and reassure backers that the entire team has their best interests in mind for the long term, ” said Dr. Axel Schumacher, Co-Founder and CEO of Shivom.
DeHedge is aiming to reduce the risk of contributing to token sales down to zero. Their strict selection process for projects involves a panel of three in-house experts selecting potential projects based on the ‘Manifesto of a Respectable Startup’. These are then put forward to DeHedge’s founders, who either accept or reject them. Shivom is the first project to make it through the selection process.
“We have come a long way, both in terms of improving our scoring model and in terms of adapting the hedging algorithms to the crypto market. Currently, there are more than 25 projects in the funnel for selected placements that have passed automatic scoring, and preliminary agreements have already been reached with four of them. However, Shivom is the first to sign an agreement on the placement of hedged tokens in the amount of $3 million,” said Dmitry Ansimov, Co-Founder and COO of DeHedge.
The mainsale of Shivom’sOmiX tokens will take place in the upcoming weeks, with interested parties encouraged to join the whitelist as soon as possible in order to avoid disappointment.