We took the first step towards realizing this vision in May 2018, when we launched the first phase of our platform: Neufund 1.0. This release allowed all investors, regardless of whether they participated in the Initial Capital Building Mechanism (ICBM), to register and complete our blockchain-based verification process. There are three different ways to register on Neufund: with the Neufund-supported Light Wallet, an External Wallet, or the Ledger Nano S. The main goal for that release was to activate investor accounts and enable them to invest in the Equity Token Offerings (ETOs).

Since then, we’ve welcomed another 2,000 investors to the platform and announced 7 companies that are going to tokenize their shares on Neufund.

Now it’s time to launch Neufund 1.1 on Mainnet. With this platform release, we are proud to present three new features that bring us closer to the first ETOs: Withdraw Ether, Blockchain identity, and Price oracle.

Details of Neufund 1.1

Price Oracle

All investors registered on Neufund can use both ETH and EUR. But it’s important for them to be able to estimate the value of companies’ tokens, like NEU, in real time. To provide users with an accurate estimation, we need an on-chain source of currency rates that our smart contracts can trust. Currently, all decentralized oracles available on the market are still in the making, so we have developed our own Price Oracle. We use multiple sources for price estimation, such as DIA, the main data source, which provides filtered and properly weighted data from open sourced api. You can see our Price Oracle in action when you look at My Wallet or NEU holding section in the Dashboard.

As any Neufund on-chain service, Price Oracle is upgradeable and ready to take data from trustless, decentralized sources and when they become available.

Blockchain Identity

Neufund provides access to legally binding and regulated Equity Token Offerings (ETOs). And to be a trustless platform, we verify eligible investors. As you know, our platform has built-in KYC (Know Your Customer) and AML (Anti-Money Laundering) processes, and every platform user is now required to go through the KYC. We designed it in a user friendly way; you can learn about the process in this blog post by our KYC expert, Shani.

Lately, there has been a lot of discussion about GDPR and data protection. Neufund does not store any private data on-chain, just proof that a given investor is eligible to invest. Once your verification is done, in the sidebar you will see a new Identity icon — which means we successfully verified you and stored the claim against your identity on a blockchain. The claim is stored securely and is immutable on a blockchain, while your identity remains unexposed. By issuing this claim, platform smart contracts can see at any given point that you are verified, while the KYC requirements and all your data remain undisclosed.

In short: The Neufund platform is fully compliant, yet we still respect our users’ privacy.

Neufund platform identity service is extensible and will conform to whatever identity standard (like ERC725) once it’s adopted by the community.

Withdraw Ether

So far, our users have been able to deposit and store Ether with Light Wallet supported by Neufund. Now we’ve activated a withdraw function for investors. It allows you to transfer your Ether to other ETH accounts. You can access the Withdraw function from the Wallet tab.

Simple as it sounds, issuing an Ethereum transaction is not that easy. We track the Ethereum pending pool to prevent you from double spending or overwriting your transactions, we estimate the gas price and gas cost for you, and also let you close the browser window and log in somewhere else , where you can still see your transaction being mined.

What’s next?

We continue to work on new features and develop current ones. The next release on Mainnet will include, among others, a migration tool allowing all ICBM participants to change the wallet of their commitment. More features are coming up, stay tuned!

Haven’t activated your account yet? Go to https://platform.neufund.org/