What is an Initial DEX Offering (IDO)? Overview of the popular IDO platforms today

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2021-03-21 22:42:10

Along with the rise of DeFi and DEX, IDO has also received a lot of attention from the crypto community. Let’s join CHK to find out what IDO is and how popular IDO platforms are today for investors!

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What is an Initial DEX Offering (IDO)? Overview of the popular IDO platforms today

What is IDO?

IDO stands for Initial DEX Offering – Initial coin offering on the DEX.

DEX here stands for Decentralized Exchange – Decentralized Exchange.

CHK has an article that explains the entire DEX here: What is DEX (Decentralized Exchange)? What is the difference between a centralized floor (CEX) and a decentralized (DEX) you should know?

How is IDO different from ICO, IEO?

In essence, the forms of ICO, IEO or IDO are the same, with the same purpose of releasing the project’s token to the public for the first time. However, all three of these types have some key differences.

ICO (Initial Coin Offering): This is the first coin offering in the cryptocurrency market. ICO differs from IPO in the traditional market in that: the project can raise capital from the community even though it has not yet developed a complete product, sometimes it is just an idea presented in the whitepaper.

IEO (Initial Exchange Offering): As the name implies, this is done on the basis of an exchange. In contrast to ICOs, IEOs are regulated as well as reputedly represented by a cryptocurrency exchange for a startup seeking to raise funds with issued tokens.

IDO: As mentioned above, IDO is also coin issuance on an exchange, but here are DEX exchanges.

What is the purpose of IDO?

On the investor side

Users can buy and hold tokens of potential projects through IDO. If you are lucky, the token can increase price many times after the first sale, bringing huge profits for investors.

On the project side

  • Mobilizing capital from the community to develop their projects.
  • If you choose a popular DEX floor, the project will be widely advertised in the floor’s user community.
  • Build a relationship in the ecosystem of that DEX exchange, can collaborate with similar IDO projects.

Towards the DEX floor

  • Attract traffic volume and increase trading volume for the floor.
  • Build an ecosystem and relationships with potential projects.
  • Increased reputation and popularity for the floor.

How to join IDO?

Depending on the project, which DEX will IDO be on. Some projects will require users to whitelist before selling. In general, the project will inform and guide how to buy IDO for users.

Popular IDO platforms today

Polkastarter

Polkastarter is definitely the hottest IDO platform right now. Projects opened for sale on Polkastarter all help investors earn huge profits, x multiple accounts.

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The highest profit that investors can get if they buy IDO on Polkastarter and “sell at the top”. Source: Twitter Kyros Ventures

However, later on, the number of people who wanted to buy IDO was too large, the requirement to buy IDO on Polkastarter became more difficult.

To prepare for Polkastarter’s IDO, readers can view CHK’s related articles here:

Bounce Certified

Although there are few IDO projects on Bounce Certified, they also bring high profits for investors. Such as the Umbrella Network.

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Bounce Certified overview. Source: Twitter Kyros Ventures
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Profits of the IDO project on Bounce Certified. Source: Twitter Kyros Ventures

FalconSwap

FalconSwap is also the IDO platform that has been attracting attention lately.

Gourmet Galaxy (GUM) is a project that combines NFTs (Non-fungible token), Yield Farming and Gamification. Recently, IDO GUM on FalconSwap has received attention from the investor community.

Interested people can see more: How to buy IDO on FalconSwap and Falconswap (FSW)? Find details about the Falconswap protocol and FSW cryptocurrency.

Conclude

IDO is a form that is not too unfamiliar in the community but always brings new things. If you are an investor looking for potential projects, profit, or simply want to participate in the colorful cryptocurrency market, you should definitely not ignore the form of IDO sale.

However, the cryptocurrency market is always risky. Invest only with a moderate amount of capital and follow your own strategy.



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