ZPX, a next generation investor and builder of assets in the blockchain industry based out of Singapore has welcomed Bancor’s co-founder Eyal Hertzog on to the board of advisors as part of 108 Token – the crypto index project of ZPX. The board consists of renowned names like HongZhuang Lim, CEO of ZSQ, and Balaji K Srinivasan, Silicon Valley crypto veteran and co-founder of Counsyl.
Apart from being the co-founder of Bancor, Eyal is also a venture-backed technology entrepreneur. Bancor is a decentralised liquidity network that provides users with simple and low-cost way of buying and selling tokens. He has had more than two decades of experience with his shot to fame after cofounding Metacafe: a video-sharing website based out of Israel that specializes in short-form video entertainment in the categories of movies, video games, sports, music and TV. Its services had garnered a base of over 50 million unique users.
Eyal’s expertise will give 108 Token the right kind of guidance in the blockchain and digital currency ecosystem. His years of experience and extensive expertise will help 108 Token to give its investors the manifestation to explore a wide range of crypto assets, making sure that it comes with the least amount of risk.
Eyal is thrilled about this new journey: “I’m thrilled to be joining the 108 Token team in its quest to simply the buying, storing, and selling of crypto assets. At Bancor, we understand the value of simplifying crypto transactions while still ensuring security. My hope is that I can leverage my experience with Bancor to help make 108 Token a success,” said Eyal.
108 Token is built on ERC-20 token that is traded on ZPX’s proprietary indexing methodology. All the proceeds that will be generated through its centralised as well as decentralised exchange will be invested in a basket consisting of the best 15 cryptocurrencies, that will be re-adjusted on a monthly basis depending on the supply.
Aditya Mishra, co-founder and COO of ZPX believes that Eyal’s expertise will help 108 Token in making an instrumental rollout of their emerging tech plans. “Eyal is a highly motivated individual and a visionary technopreneur. We are delighted to have him on board as he has proved time and again a keen sense of identifying emerging tech trends and executing his plans with full focus and diligence,” said Aditya.
The decentralised nature of 108 Token will help to reduce custodial threat, which will further benefit the users to have full control over their personal funds and individual data. All of it will securely be managed by ZPX’s team of cryptocurrency experts and analytics division, consisting of risk management and banking experts, venture capitalists, product managers and tech experts.
ZPX has recently raised a round of seed funding from SeedPlus, a Singapore-based seed-stage venture capital firm which typically invests in early-stage companies on market terms. A round of US$ 1.3 million was raised for the launch of 108 Token. Other investors who participated in the round include Gokul Rajaram and Milliways Ventures from San Francisco, as well as Girish Mathrubootham, Anand Lunia and Nithin Kamath of India-based financial services firm Zerodha.
ZPX is a Singapore-headquartered investor and builder of next-generation assets in the blockchain space. Previous investors include Gokul Rajaram & Milliways Ventures from San Francisco in addition to Girish Mathrubootham, Anand Lunia & Nithin Kamath of Zerodha. The Company is currently working on a number of token products & the building of a decentralized exchange. ZPX is in the process of launching 108 Token, an ERC20 token built on top of Ethereum, that will dynamically re-adjust every month to the top 15 Crypto token assets based on their proprietary indexing methodology. The firm’s tech platform initiatives are supported by a dedicated crypto research and analytics division.
Source: 108 Token