AngelList Spin-Off CoinList Announces First Token Sale of 2019

Token launch platform CoinList is rolling out its first offering of 2019.

Announced Thursday, Ocean Protocol, a decentralized data-sharing protocol, is aiming to raise $8 million at 25 cents a token through the CoinList platform.

It's the first token sale on CoinList since July 2018, when Origin Protocol set out to raise $6.6 million.

CoinList has always maintained there is a compliant way to run token sales in the U.S., a point it reasserted with a blog post following SEC actions against Airfox and Paragon last November.

"Our token launch sets us in the right direction to continue to build so that more people can unlock the value of data, continuously expanding the effect of the data economy."

The protocol is supported by a Singapore-based non-profit that raised 16 million euros in a pre-launch token sale in March 2018.

Pon told CoinDesk the token wasn't released at the time so as to comply with U.S securities laws.

"We can only release the token when there is utility value - which happens to be now," Pon said.

"The old token ticker OCN got taken by a different project so we went with OCEAN instead.".

CoinList's Bromberg expects token sales on the site to ramp up significantly in 2019.