CoinList Platform Update: All You Need to Know
The ICO platform has undergone a package of updates which concern the fundamental interface, user engagement, cryptocurrency initiatives, as well as functions and products of the platform itself.
Coinlist is one of the largest platforms for Initial Coin Offerings (ICO). According to the analytical website Cryptorank.io, Coinlist has presented a total of 36 projects. As a result of all the token sales, over 1 billion dollars were successfully raised.
We have meticulously compiled comprehensive details regarding the recent update of the Coinlist platform, which was implemented on the 3rd of May, 2023.
Subtle design refresh
The first thing that catches the eye is the change in the platform's design. Coinlist has updated its own style, changed its logo, and overall look. As for the buttons and functions on the starting dashboard, most of them have remained unchanged.
CoinList's design evolution: top for old, bottom for new. Source: Coinlist.co
Testnets and grants
Coinlist now offers a new feature that enables participation in Testnet and grant programs provided by several cryptocurrency projects. Owners of cryptocurrency startups and blockchain developers can apply to have their projects listed on the platform.
Coinlist will oversee compliance with the conditions, as well as create a rating and distribute rewards.
RealDrops and Grow
Coinlist will assist selected projects in forming a reputable list of early adopters to reward them for their activities, similar to the process for Testnet participation. It is also likely that Coinlist customers who use the staking and trading functions of the Coinlist Pro platform will fall under this category.
The "Grow" section offers support to cryptocurrency dApps and networks for their audience engagement, marketing, and product development.
Distributions
Coinlist has taken on the responsibility of vesting and distributing tokens to verified customers. As a result, some projects no longer require users to constantly claim coins on the site, which can help them avoid paying fees for this operation.
The platform updates now enable the connection of personal storage solutions like the Metamask browser wallet to Coinlist, allowing the account to be linked to a specific blockchain address. This way, cryptocurrencies or tokens can be deposited into either the user's Coinlist account or their personal wallet.
Connecting a wallet in a user's CoinList account. Source: Coinlist.co
Identify Verification
This Coinlist section highlights an enhancement in the verification process for new users, particularly in completing the KYC (Know Your Customer) procedure. This development has generated some concerns, as even the inaugural token sale on the platform, CyberConnect, encountered several issues after a long spell without such incidents.
Initially, the verification of a new user on Coinlist took up to a week. Moreover, numerous accounts have been banned for unknown reasons that the Coinlist management cannot fully explain.
Another issue is that after the successful CyberConnect token sale, which caused a significant increase in users on Coinlist, the platform temporarily halted registration. These problems need to be regulated and addressed promptly.
The verdict
The Coinlist platform update brings many advantages to the table. It aims to stay current with the latest trends such as Testnets and token sales, while also tuning its operations to excel in this field. However, the company's core product, the Public Sales feature, will remain a key priority for Coinlist moving forward.
