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ICO status: completed, raising USD 10 Million
Token type: XRL tokens, initially sold at USD 0.133. Currently trading at USD 0.22 in EtherDelta, Yobit and Livecoin. (Updated on December 12, 2017).
In a nutshell: Rialto puts firth arbitrage, financial systems, crypto-trade
Editor’s Notes and Disclosure: The author holds no business stakes or dividends at the startup. This article is an informative one. Both the author and Decentral Magazine encourage our readers to seek advice from a financial advisor and do their due diligence before considering any investment.
When financial data enthusiasts, business consultants, and computer science graduates teamed-up around this Ljubljana (Slovenia) based start-up, the outcome was intriguing and promising enough to draw the crowds’ attention.
This is the story behind arbitrage and market making project Rialto, which derives its name from the Rialto bridge in Venice, famous for connecting both ends of the city, and serving as a major route for trade across the Grand Canal.
Their promise and know-how lie in proprietary algorithms for arbitrage and market making. By providing liquidity and matching orders, they are aiming to increase market efficiency and connect the different crypto-markets and exchanges.
Decentral magazine met with Mr. Uros Stoisavljevic a Ph.D. candidate in Political Economy and co-founder of Rialto during the “Blockchain Solutions 2017” forum in Barcelona. The interview was intriguing and passionating, and we tried to sum it up below.
Rialto at a glance
Simply put, Rialto is an arbitrage, market making and trading company solely operating in the crypto-markets. Rialto’s mission encompasses the arbitrage, that is done by purchase/sale in-between different exchanges while making a profit from prices fluctuation.
It also includes the traditional market making reapplied on the crypto and the trading. Rialto’s added-value includes comprehensive data analysis and educated predictions based upon in-house proprietary algorithms.
Rialto’s roadmap and key dates
Rialto opted for a crowdfunding scheme using ICO. Pre-sales fundraising achieved a total of USD 10 M. 40% of which came from big investors that were given the chance to take part of the event before the crowd. The Token XLR has a tradable total of 85,000,000 XRL from a supply of 100,000,000 XRL, available through BTC and ETH.
The total and completed market cap as of November 2018 is USD 14.88 M.
October 1st, 2017 marked the Trading Kickstart, allocated on EtherData and Livecoin so far.
The First Audited Report Report will be published on December 31st, 2017. March 15th, 2018 will mark the First Distribution of Created Value.
The Rialto Team
The team is centered around graduates from the Academia, data specialists, and computer scientists.
It includes Leon Kocjancic, Ph.D. Co-founder and Executive Team member, a Researcher at the Defence Academy of the United Kingdom. He comes from an engineering simulation and supercomputing background.
Another Ph.D. is Valentin Gjorgjioski, co-founder of Grabit. He is specializing in Computer Science with Focus on Data Mining Role. His Expertise encompasses Machine learning, math and algorithms, and scalable software development.
Other executive members include Vladimir Kuzmanovski (Ph.D. in Information and Communication) and Hristijan Gjoreski (Ph.D. in Computer Science, Focus on Data Science and Machine Learning), Uros Stoisavljevic a Specialist in Political Economy and Market Synergies and Finance specialist Vito Martin Hrzenjak.