JOHANNESBURG – Thousands of Africans flock to DafriXchange to participate in what they describe as African own Bitcoin which many claim to have missed in 2009 – 2010 when it was still in its infant stage.
The DafriBank Digital, a South African based startup announcement of token issuance in 2020 was well received by its fast growing number of African digital entrepreneurs. The FinTech outfit began its DBA Token Private Sales in February 2021and has reportedly sold a record 30 million DBA to date, more than 40% of its ICO supply.
“We are delighted to announce that we have completed Phase 2 of DBA Token Private Sale amid overwhelming investor response. Phase 2 involved an offer of 10 Million DBA tokens and has resulted in 99.4% subscription within the 30-day offer period. This following stellar feedback from Phase 1 which recorded a staggering 20 million sales. This brought the number of DBA sold to 29.9 million” the bank said in a statement
The heavily structured ERC-20 custodian token was loud for its sales and release structure of 3% monthly release strategy. “The 33 months release structure for all token purchased in private sales was aimed at preventing the traditional ICO pump and dump where private sale participants crash token price upon public listing” said Catherine Anajemba, head of strategic planning at DBA Currency.
“This structure puts investors at peace with a conscious knowledge about not going to wake up one morning to see their portfolio plummet as a result of a sell off from ICO participants. It starts with a 13-month vesting which began on February 15 and soon after the vesting is complete a subsequent release of each investor’s 3% of total holding will commence and its expected run for 33 months period, bringing an estimated number of years it will take a DBA ICO holder to successfully dump he/her DBA” She added
When pressed on how investors feel letting their money locked inaccessible for 13 months long, she was quick to point out that private sale investors stand to enjoy a considerable growth during the prescribed period through its martingale pricing structure which increases the value of investors portfolio at each phase. “We began our Phase 1 private sale on February 15, 2021 at price of USD 0.01 – 0.64 which gives an investor 28 348 DBA for each 1000 USD or 2 834 DBA for each 100 USD purchase, and today investor is required to pay a staggering 3000 USD to successfully purchase a 28 348 DBA giving all Phase 1 investors a firm 200% growth and phase 2 investors a 100%. The 100% price increment per phase is expected to occur in all 4 remaining phases” she explained.
The martingale pricing structure is a process of leveling the playing field for institutional, high net worth and retail investors. An investor participating during a specific phase agrees to buy the tokens at the price level offered during that phase, as well as the subsequent phases.
Investor ‘A’ participates in Phase 1 (DBA offer rate: USD 0.01) of the sale, buying tokens worth USD 1000. As per the pricing structure, he will be allotted the tokens for USD 0.01 (Phase 1), USD 0.02 (Phase 2), USD 0.04 (Phase 3), USD 0.08 (Phase 4), USD 0.16 (Phase 5), USD 0.32 (Phase 6), and USD 0.64 (Phase 7). The total DBA tokens Investor A gets comes to a combined 28 348 DBA.
This way, no major buyer can take up the tokens at higher discounts and later distort the prices. No investor can grab 10 Million tokens at USD 0.01 and leave nothing at that rate for the others.
The Phase 3 of the DBA token private sale became active soon after phase 2 timer expired on the 15 of April and have so far sold 5.1 million DBA of the total 10 million allocation for the phase 3. The Phase 3 entrants are expected to enjoy a 100% increment when the phase elapses and Phase 4 comes into play on 15 May.
The project is expected to list on major exchanges in September 2021 for 1.00 USD and will have a 10 million in circulation which it intends to make available for staking. With such a limited number of coins in circulation analysts are expecting prices to surge as high as $100 per DBA amid the influx of the yearn farming community.
The DBA notable projects are digital banking and centralized exchange with an integrated DEX gate away. The token will power DafriBank Digital and DafriXchange ecosystem. A comparison of DBA against similar centralized exchange tokens such as KCS, BNB, WRX revealed that DBA is poised for a great success giving the untapped African crypto market where DafriXchange aims to reach some 500 million Africans through its unique Payment Agent feature by 2025.
The DafriBank Digital is a fintech startup backed by DafriGroup PLC which led its series A funding with $5 million dollars in 2020. DafriGroup is a South African based public company founded by tech billionaire entrepreneur Xolane Ndhlovu who currently leads the company as the group chairman.