BiUP IEO (Initial Exchange Offering) section opening with “zero” transaction fees for the limited period of time.
BiUP is about to open the IEO section to help our users to catch the heating up IEO trading opportunity. In addition, we are offering “zero” transaction fees for IEO related trades for the moment. Recently Huobi. OKex has opened their IEO platforms. Platform token for Binace, i.e. BNB increased its value by 233% in the first quarter. Bittrex has also launched its IEO platform. So in order to help our community users to catch up this IEO wave, we have decided to open our own IEO zone and with zero trading fees for the limited period of time.
BiUP IEO “Zero” Fees Start Time: March 16th, 2019 – March 23th Beijing Time
The upcoming IEO project
Coin Type: Celer
Start time: 2019-03-19 22:00:00
Number of issues: 10 Billion CELR
Number of snaps: 597,014,925 CELR
Panic buying price: to be determined
Celer related introduction: https://launchpad.binance.com/cn/project/52
Online IEO project
Currency Security: BTT
Release time: 2019-02-0
Crowdfunding price: $0.00012
Number of snapped up: 59.4 billion pieces BTT
Number of issues: 99 billion
The highest increase: 0.0012 US dollars, the price climbed nearly 10 times
The IEO is called Initial Exchange Offerings, which refers to a way for exchanges to directly help projects to raise funds and sell their tokens. Since the issuer itself is an exchange, the IEO does not need to publicly raise funds, issue, etc., and can be listed and traded directly on the exchange.
It can be seen that the IEO model transfers the risk of the project party itself to the exchange, and plays the role of a credit guarantor in the middle of the transaction. Using its own resources and project experience, the exchange can complete the audit of the submitted projects, while also suppressing technical risks such as phishing and malicious attacks. The advantages of users, funds, and flows of the exchange can provide more effective assistance for project dissemination and fund collection.
IEO is good for platform coins
The prevalence of the IEO model is the first to benefit the platform currency. On the one hand, in the early crowdfunding process, the exchange that is the sponsor of the project generally requires the platform currency used by the user to exchange the new currency, and the usage scenario of the platform currency is broader. On the other hand, once IEO succeeds in launching the new currency on the exchange, the exchange will inevitably open the trading pair of the new currency and the platform currency, which will greatly increase the liquidity of the platform currency.
For example, BNB’s 233% increase in the quarter, not only the credit of the chain, but also the demand of the IEO model, the opening of the BTT/BNB and FET/BNB trading pairs, have driven the demand of BNB.
At present, the platform currency issued by the cryptocurrency exchanges, such as the HT of the Huobi, the BNB of Binance, and the OKB of the OKEx, are all going to support IEOs. The characteristic of IEO is that there is no financing subscription process, which saves the cost for running ICO, airdrop promotions and a token can be directly listed and traded on the cryptocurrency exchange. In addition, the platform currency is going to be more useful in IEOs because it can be used to offset the transaction fees of other transaction pairs, and can also be used to vote on the currency.
The IEO is somewhat similar to the STO that was previously attracted high attentions, but the process is shorter and more efficient. The reason is that the auditor of STO is usually traditional institutions, but the auditor of IEO is the market power of the exchange. It has the characteristics of safety, low risk, convenience and high efficiency necessary for project financing.