Decentralized startup Lisk is all set to go live today at 8pm UTC. The launch follows the Initial Coin Offering (ICO) which ran from February 22 to March 21, 2016, raising over $6 million in Bitcoin and other digital currencies.

According to latest official announcement, IOU trading has made Lisk the third largest cryptocurrency with a $250 million market cap. Latest statistics from coinmarketcap.com show that Bitcoin tops the list with a market cap of $6.9 billion, followed by Ethereum with a market cap of over $1 billion.

“The value of each Lisk IOU token has peaked at $7.23. With a present value of $2.5 per Lisk IOU tokens, the total market capitalization of Lisk now stands at $250,000,000, making it the third largest cryptocurrency, taking the place of Ripple, right under Ethereum”, Lisk said.

It further said that that with the launch of Lisk mainnet, the platform has 100,000,000 LSK tokens, which are distributed according to the terms of ICO:

• 1,000,000 LSK for early supporters
• 2,000,000 LSK for advisors, partners, and third parties
• 4,000,000 LSK for campaigns and bounties
• 8,000,000 LSK for the LISK core team
• 85,000,000 LSK for the ICO participants

Following the launch and distribution of tokens, the LSK tokens received by ICO participants can be traded on selected exchanges after launch. Lisk recommends using services like Lisk.Fund for large orders. The Lisk IOU tokens traded before launch on various exchanges will be swapped for real LSK.

Lisk founded by two former Crypti team members Max Kordek and Oliver Beddows, is a decentralized start-up which was founded last year. The blockchain apps created on Lisk will have its own sidechain and can be hosted on any cloud platform. As an alternative to Ethereum, the full stack blockchain based development platform Lisk allows developers to build their applications on sidechains with pure JavaScript.