Mobius Network raised $39 million in an ICO on Stellar, hitting its hard cap in just two hours. The startup chose Stellar over Ethereum due to speed, cost, and security concerns, positioning itself to make crypto integration easy for traditional tech companies.
Mobius Network completed a $39 million ICO on the Stellar network, the largest token sale on Stellar to date, selling 35% of its mobi tokens in just two hours. Co-founder David Gobaud explained the choice to use Stellar instead of Ethereum by comparing Ethereum to outdated platforms like AOL and Myspace, citing Ethereum's scaling challenges, high fees, and smart contract security issues. Mobius aims to simplify cryptocurrency integration for traditional tech companies through a dapp store and plans to build a decentralized data marketplace with an oracle system for real-world data verification. The company also developed a universal login protocol using tokens for authentication and access control.