Cosmochain is a Korean blockchain-based platform that aims to connect customers to beauty and skincare companies in a mutually beneficial environment. The beauty industry, which in Korea is famously strong, has registered globally a steady annual growth of 3% in recent years (5% in developing countries, including China). Cosmochain collects crucial data from customers and stores it securely in the blockchain, where beauty and skincare companies that adhere to the Cosmochain ecosystem can access it. Each contributing customer is rewarded with tokens.
The Cosmochain ICO was concluded in May 2018, raising 43,000 ETH. Let us have a look at the progress the company has made since the completion of the token sale.
LAUNCH OF THE APP
Cosmochain has launched its COSMEE Pilot Dapp at the end of August. The app is now available for download from the Google Play Store and the iOS App Store.
Here are the first statistics which illustrate COSMEE’s monthly performance so far:
PARTNERSHIP WITH KAKAO
Kakao, one of the largest Korean IT companies (best known for its messenger app), has announced its investment in Cosmochain. Ground X, Kakao’s subsidiary, will launch blockchain platform Klaytn, where COSMEE could operate, in early 2019.
Cosmochain is also a partner of major Korean blockchain protocol ICON. ICON will purchase COSM during the same period of the third buyback. The purpose of this purchase is a dApp partnership between ICON and Cosmochain. According to the Cosmochain team, ICON will buy thousands of ETH worth of COSM using ICX.
TOKEN BUYBACK PROGRAM
In early September Cosmochain started its Token Buyback Program. So far, Cosmochain has concluded a total buyback of COSM equivalent to 3,150 ETH so far. Total amount of next buyback (4th buyback plan) will be more than 15M COSM. Aside from 4th buyback, buybacks based on additional investments of both new and existing institutional investors will be scheduled. All the COSM tokens obtained though the buyback will be used for business development, including partnerships with cosmetics companies.
EXPANSION INTO THAILAND AND OTHER MARKETS
Cosmochain has acquired the Thai branch of popular Korean e-commerce platform 11 Street (part of the payment was given out in COSM. Ultimately, Cosmochain plans to expand in different markets in South East Asia and globally.
Cosmochain has also been busy expanding its team and hiring new marketing and retail experts, and also new highly-skilled developers and UI/UX designers.
i) Business Team: Business development and platform marketing
ii) Technology Team: Platform development and blockchain engineering
iii) External Relations Team: Public relations and token listing
COSMOCHAIN MAJOR INSTITUTIONAL INVESTORS
Github: https://github.com/cosmochain/CosmoCoin
Smart contract address: 0xc4bcd64cb216d49fd3c643a32762f34626b45a1a
Number of COSM holders (excluding exchange holders: 18,235
Total token supply: 973,000,000 COSM
Circulating supply: 570,655,336 COSM
Token distribution:
KUCOIN LISTING
On September 18th, KuCoin listed the Cosmochain token (COSM), which is available to trade in the pairs COSM/BTC and COSM/ETH.
Cosmochain tokens are also listed on the following exchanges: HitBTC, UEX, CoinBene, FCoin(FOne), CPDAX.
In addition, Cosmochain has announced plans to list on top-tier global exchanges and has declared that active discussion with such exchanges is under way.
COINZEST LISTING
COSM was listed on CoinZest on October 5th. According to Coinhills, CoinZest was the 9th exchange by trading volume in early September 2018. In addition to COSM/BTC and COSM/ETH pairs, CoinZest also offers a fiat pair (COSM/KRW).
GDAC LISTING
COSM is listed on GDAC, a Korean exchange. COSM/KRW trading open: 2:30 pm on October 26th (KST).
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The above information is not financial investment advice. Please do your own research before making investment decisions. This information is for educational purposes only.
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