Amid the modern-day bearish marketplace, cryptocurrency exchanges like Bittrex are taking walks on a new fashion of launching its first Initial Exchange Offering (IEO) on behalf of a blockchain undertaking called RAID. As announced on Monday (March 11, 2019), it might be the first of its type for Bittrex wherein it is web hosting RAID (XRD) token Sale on its platform through a brand new idea known as Initial Exchange Offering.
Per the modern day declaration, Bittrex will launch IEO of RAID challenge that’s a blockchain-powered gaming data startup from South Korea. Accordingly, RAID’s 17 billion XRD token is already added to Bittrex change with an intention to elevate $five.95 million. The difference is figuring out to offer 1 XRD at the cost of 10 Satoshi while placing a minimum buy of $10 and a maximum of $20,000. The IEO of RAID’s XRD token will start on March 15, 2019, at 10.00 AM KST time.
IEO or Initial Exchange Offering is a concept past ICO token sale (Initial Coin Offering). Not like ICO wherein the costs of the token attain sudden promote-off initially, experienced manipulation and contain less security level, the registered cryptocurrency change leads IEO. In this method, a token sale of a mission can be hosted through exchanges consisting of Bittrex, KuCoin, Huobi, and so forth, on behalf of the venture in preference to the project itself. By doing so, the trade ensures better safety level and prevents rate manipulation. IEO is an advanced method of undertaking the token sale and raising capital with the assist of cryptocurrency trade.
While IEO incorporates a similar technique that Finance’s launchpad is supplying – it doesn’t are available in a row of opposition for Finance.
As nicely as that, Changpeng Zhao (CZ), the CEO of Finance Exchange is long term believer on cryptocurrency’s worldwide adoption – as visible on his profile, CZ took to twitter and made a confident statement on Bittrex’s IEO announcement. He adds ‘Glad to look greater becoming a member of the club’;