Dubai, United Arab Emirates, July 17th, 2023, Chainwire – Kalima, a delegated proof-of-stake blockchain, has entered into an agreement with ABO Digital, a private alternative funding group based in the Bahamas and Dubai. This partnership involves a commitment of US$10 million into the French-based blockchain company and the release of details of its KLX token sale.
Kalima is an ecosystem that allows businesses, developers, and startups to build web3 enterprise and data governance applications, with a focus on IoT (Internet of Things) data in order to solve real-world problems.
Commenting on this partnership, Kalima CEO André Legendre said: “The funding commitment from ABO Digital marks a significant milestone for Kalima, which plans to utilize the funds to further innovate and refine IoT solutions to revolutionize industries and drive digital transformation. The arrangement with ABO Digital will enable Kalima to enhance its IoT blockchain solutions for industrial companies and bolster strategic partnerships within the IoT and blockchain ecosystem.”
“We are excited to work with the Kalima team going forward,” said Amine Nedjai, CEO of ABO Digital. “Kalima’s innovative approach and expertise in web3 enterprise applications align perfectly with our commitment to driving technological advancements in enterprise blockchain solutions.”
Kalima has also announced a 24-hour private sale of its KLX token on Pinksale, scheduled for July 19th. A general purpose utility token, KLX can be used to pay for transactions and access blockchain services on the Kalima protocol. To support the growth of the KLX token, Kalima Blockchain Governance created several proposals, which include bridging the KLX token from Polygon to the Ethereum network and proposing the 24-hour token sale on Pinksale. Following completion of the private sale event, KLX will be made available for trading on Uniswap, where a KLX-ETH pair will be established.
Kalima is a low-consumption layer one blockchain for enterprises and IoT. It provides an interconnected blockchain for achieving decentralization and increasing scalability, adopting a framework popularized by blockchains such as Cosmos and Polkadot. Kalima can be embedded into very small IoT devices and allows AI inferences to be executed at the network’s edge using its native smart contracts.
ABO Digital is an investment firm providing alternative financing solutions to cryptocurrency projects around the world. As part of the Alpha Blue Ocean group, which has executed more than $2B in financing commitments for publicly listed companies since its inception in 2017, ABO Digital brings institutional-grade expertise and flexible financing solutions for blockchain developers worldwide.
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