Global cryptocurrency exchange Liquid.com (“Liquid”) announced that it will host the upcoming public sale for SUKU. Developed by its parent company, Citizens Reserve, Inc., SUKU aims to bridge the gap between conscious consumers and brands, making commerce more transparent and efficient through the power of blockchain. SUKU provides consumers with access to transparent, verified products and, in turn, companies have the ability to connect with these types of consumers directly.
The launch of this IEO is the first public sale of SUKU tokens commencing on 30th October until 7th November 2019 on the Liquid platform.
With consumers increasingly concerned about where products come from, the meaning of responsible business is shifting, demanding companies to be more transparent, ethical and sustainable in sourcing and procurement. A Unilever report showed that the sustainable market for fast-moving consumer goods is valued at US$2.5 trillion, which includes an untapped market opportunity worth US$1 trillion. SUKU’s platform and marketplace allow consumers to find transparent, verified products and make informed purchasing decisions, connecting brands and retailers to this untapped $1T Market.
Since it came out of stealth mode in September 2018, SUKU has developed well beyond ideation to tangible, ready-for-market solutions. The SUKU team, consisting of supply chain and blockchain leaders from Deloitte’s Blockchain Lab, has created tools and formed key partnerships that will have a real impact on consumers’ purchasing decisions. One example includes SUKU’s strategic partnership with Smartrac, a global leader in radio-frequency identification (RFID) solutions, to provide support and integration of the SUKU blockchain to Smartrac’s supply chain. SUKU has also built a consumer-facing verification tool that authenticates the provenance of goods from origin to final product, allowing participants to track and access the archive of information, and includes a wallet function to pass on rewards to intermediary players along the supply chain.
As a global cryptocurrency exchange that provides trading, exchange, and blockchain-based financial services, Liquid has been ranked as one of the top five exchanges worldwide with 100 percent real volume by The Blockchain Transparency Institute. With offices in Japan, Singapore, and Vietnam, Liquid has been officially licensed by the Japan Financial Services Agency.
Commenting on SUKU’s upcoming token sales, Seth Melamed, Global Head of Business Development and Sales at Liquid said: “We’re delighted to be able to conduct the IEO for SUKU, as the project aligns with our mission to support and deliver on some of the most pertinent ideas in today’s crypto economy. We are committed to offering an optimal experience for Liquid members, and part of this includes the curation of projects that demonstrate the same synergy with our platform.”
The SUKU token IEO is limited to a hard cap of 41,500,000 tokens, with an allocation of 14,000,000 tokens for private sale and 27,500,000 tokens for public sale. The private sale is currently in progress and is slated to end on 30th October. Public sales for the IEO will run for 9 days from 30th October to 7th November 2019. To participate in the public sale, users are required to have a verified Liquid account with sufficient funds to qualify for the offering.