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Being a brainchild of Binance DEX, Initial Dex Offering is an extremely new approach to fundraising. As it seems that nobody is sure what the concept of IDO means exactly, it’s worth checking out what we know about it today.
One of the terms that are considered to be a hot topic in the crypto world is Initial Dex Offering. Raven first introduced IDO on Binance, and since then there is no more looking back.
It is believed that this concept can lead to a progressive revolution in the technology scene, especially the crypto arena. A number of new and unique events have taken place when it comes to cryptocurrencies such as Initial Coin Offerings or Initial Exchange Offerings. But Initial Dex Offering is different from the rest.
The first example of IDO is that of Raven protocol, which was listed on Binance DEX on June 17, 2019. The Raven protocol is a distributed and deep-learning training protocol which is known for its time-efficiency and high-speed.
The IDO event that took place a couple of days back is considered to be an important experiment which could have the power to set new standards for new start-ups to get access to funding for their growth and development.
The IDO event was held for 24 hours, and a total of 3 percent of the token supply was assigned for the IDO. During the event, traders were in a position to purchase Raven tokens at 0.00005 BNB for a single Raven token.
The exact definition of IDO has not been designed until now because the concept is extremely new. But ‘Initial Dex Offering’ or IDO can be stated to be the event which will enable protocols available for traders. IDO is the brainchild of Binance DEX. As per Raven’s blog, it is not sure what the concept of IDO means exactly. IDO concept could pave the way for new tech projects or start-ups to move from an idea and expand in the crypto ecosystem.
Just for a reminder, let’s go through today’s most popular fundraising schemes, which are actively being used in the crypto sphere.
Initial Coin Offering which is also known as ICO is considered to be one of the most popular and effective crowdfunding methods that have entered the crypto scene. It is similar to an IPO where a business undertaking tries to raise finance for itself. The simple procedure of raising finance is gaining popularity among tech start-ups. (You may find all the information about ICOs in our Guide)
Security Token Offering is a unique fundraising mechanism that is making its presence in the crypto world. In STO, an investment contract is issued which is backed by security token coins. They are recorded in the blockchain platform. This mechanism deals with actual assets and it is important to comply with the government regulations. The high level of security makes it highly popular among long-term investors. (To find more information about security tokens and STOs, please check out our comprehensive STO guide)
Initial Exchange Offering is comparatively a new concept in which organizations are directly able to sell their tokens to individual participants or traders. In this process, the coins are directly exchanged. In this technology-driven model, special attention is given to the KYC procedure so that the security of the investors can be ensured throughout the process. (You may check out our best IEO Guide for more details)
IDO is different from them as the exact potential of the concept has not been explored until now. It is a work in progress that enables users from different nations to participate in a trade where they will be sold tokens of a specified token vendor such as Raven Protocol. However, note – the process involves risk similar to risk relating to cryptocurrency purchase.