Here are 4 parts for easy understanding and quick assimilation.
What is an IEO?
An IEO is a way through which cryptocurrency startups raise money to execute their project. The acronym IEO stands for Initial Exchange Offering. It is an advancement in ICO (Initial Coin Offering) because it is conducted on an exchange rather than the startup’s website.
ICOs are unregulated and thus dubious projects were able to raise money through this means from unsuspecting investors. In 2017 and early 2018, billions of dollars were generated through ICOs, however nearly 80 percent of these ICOs were identified as scam.
IEOs are safer, legitimate and more reputable form of ICOs; Because they are conducted on Exchanges, these Exchanges want to maintain theirtrust and reputation thus they strictly vet these startups before listing their token for IEO.
Another advantage of IEOs is that the tokenssold are received immediately and these tokens become available for trading on the exchange that conducted the IEO.
One of the first IEOs was carried out on BinanceLauchpad; $7.2 million was raise in the sales of BitTorrent token in less than 15 minutes. In Fetch.AI’s IEO the hard cap of $6 million was reached in 22 seconds.
It is safe to say that tokens issues through IEOs are tokens from a legit project.
Who does the IEO benefit?
An IEO is of benefit to the investor, the startup and the Exchange. When aninvestor invests in a startup through an IEO, he can rest assured that the project has been vetted by Exchange before its listed thus the risk of investing in fraudulent Project is eliminated.
The Startup saves money and time in heavy unprofitable marketing,in looking for an exchange to list its token for trading after crowd sale, and in competing with fraudulent Startups in the free ICO market. They only need to concentrate more in developing their project.
The Exchange gains the satisfaction that they are listing a token they have vetted to be legit; they also earn in listing fee and fees from trading of the token on its platform.
Why did Dexage go into IEO?
Dexage is a decentralized exchange with a multi-tier trading ecosystem. It features include
- Decentralized Crypto Exchange
- Centralized Exchange
- P2P Fiat -Crypto Trading
- DXG Staking
- P2P Lending
- Mobile Chat Dapp for Socio-economic Transaction
- DXG Decentralized Automated Organization
- Intelligent One-Click Diversification for Crypto Asset Manager
The legitimacy of Dexage has been proven by 2 reputable exchanges that have vetted and approve the Dexage IEO on their platform.
Where and When will the Dexage IEO be carried out?
The Dexage IEO will be carried out on two exchanges
Biforex is an exchange that is registered in the republic of Seychelles, it has bases in the Singapore, Japan, Hong Kong etc. Its 24 hours trading volume is about 1.2 billion USD. Most IEO that run on this platform get sold out.
Dexage IEO on BitForex is slated to run from the 1st of July to the 5th of July 2019.
Exmarketsis an exchange that is a subsidiary of Chain Framework ltd.
Dexage IEO on Exmarkets will run from the 22nd of June to the 8th of July 2019
Trading of the DXG tokens both platforms start on the 22nd of July 2019.
Note that once a coin is sold out on a platform, the IEO will automatically end on that platform.
Dexage if a platform that will revolutionize Trading. It’s a project trader are looking up to as it gives traders complete control of their funds eliminating middle man fraud or Hackers invasion.
The approval of the project by BitForex and Exmarkets further proves that its solid.