CoinMetro, a crypto exchange, today announced that PARSIQ is the first project on its IEO platform, CoinMetro Direct. The Direct platform is a new way of conducting Initial Exchange Offerings (IEO). It protects participants, and holds projects accountable to pre-agreed milestones and timelines – with investor refunds possible if a startup doesn’t deliver.

CoinMetro estimates that up to 90% of ICOs that raised money in 2017-2018 either didn’t deliver to their milestones or have already wrapped up operations. This made investing in ICOs a risky prospect and it’s with this in mind that CoinMetro created an IEO platform with added protection for contributors.

Funds raised are not passed on to the projects in full, but rather are held in escrow by a third-party custody service. Funds are only released incrementally when projects reach predetermined milestones according to predetermined timescales, and if a project doesn’t deliver, its investors are entitled to vote on a refund of the funds not yet released to the project.

The first project to raise funds through CoinMetro Direct is PARSIQ, a next generation blockchain monitoring and compliance solution. It uses “Smart Triggers” to obtain extra insights into blockchains in realtime, and the platform is powered by the specialised ParsiQL programming language.

Kevin Murcko, CEO of CoinMetro, said: “For too long, investors have been stung by blockchain projects not delivering on their promises. This has undermined those legitimate and exciting projects, which have a credible plan in place and are committed to building the project.

“We’re excited to have PARSIQ join CoinMetro’s Direct platform. Not only do we think it’s a great project, but we’re already using its platform for compliance at CoinMetro and we’re looking to roll it out in other areas.”

Andre Kalinowski, Co-founder at PARSIQ, commented: “CoinMetro is a great match for us – its Direct platform focuses on providing transparency to IEO participants. We’re looking forward to using this platform and raising the funds we need to continue developing our blockchain monitoring solution.

“We believe that, for blockchain to achieve mainstream adoption, transparency is crucial. Being able to monitor and analyse the blockchain, and verify transactions in real-time, will help to build trust for users and improve the understanding of how blockchain works. PARSIQ will not only enable this type of monitoring, but continue to innovate and provide improved capabilities in future so that the blockchain is accessible for all.”

PARSIQ already has a working beta monitoring platform on Ethereum, with Bitcoin and cross-chain analysis due to be added in October.