Place/Date: - October 22nd, 2021 at 1:00 am UTC · 5 min read
Contact: AscendEX, Source: AscendEX
AscendEX is excited to announce the Idexo token (IDO) listing under the trading pair IDO/USDT on Oct. 21 at 1 p.m. UTC. In celebration of the listing, AscendEX and the IDO team will launch several limited-time promotional events between 1:00 a.m. on Oct. 22 and 12:00 a.m. UTC on Oct. 29, 2021. By depositing and trading IDO, users will have a chance to share 40,000 USDT worth of IDO pooled rewards.
Idexo, a simplified technical and community development experience for projects that leverage blockchain features, provides developers with ways to build and grow industry-disrupting applications. Through a UX-first, blockchain-second ideology, Idexo’s suite of tools and products offer an easy-to-use interface for building application features through well-documented, short code snippets.
In efforts to enable application developers to build sustainable business models through their applications, Idexo also offers users a simple Compute Credit model for providing stable purchasing power. Idexo, always focused on making the process as simple as possible for developers and users, has also integrated NFTs and NFT marketplace methods into the product in order to benefit from the knowledge and capital in this burgeoning tech space.
Through the foundational IDO token, serving as an incentive mechanism, Idexo is able to leverage the power of its community to continually improve how the platform operates. This strategic emphasis on community-driven development empowers creators, developers, and entrepreneurs to bring about positive change even beyond the Idexo platform. The IDO token operates in centralized, decentralized, and hybrid models and recently has opened its functionalities to explore the newly found world of staking.
To earn rewards in the Idexo ecosystem, a user is able to stake IDO tokens on currently two different types of token staking contracts. In return for doing so, stakers will receive tokens, and in turn, be able to earn rewards on those tokens and benefit from the staking process.
The first type of staking contract involves simply staking IDO tokens on the general direction of the project. A portion of all operating margin generated from the Compute Credits and sales of products that leverage the Compute Credits and transaction infrastructure will flow through to this pool, where it is shared on a monthly and quarterly basis. The pool is then distributed to staking participants based on their portion of the overall pool, and of course a seniority formula.
The second type of staking contract involves directional staking, where participants stake on a contract tied to a particular product or product roadmap decision. Participants then earn a higher percentage of rewards if those products or decisions prove successful, and vice versa if they prove unsuccessful. This mechanism not only guides the product roadmap and integrations, but also incentivizes the community to aid the project in its growth trajectory.
Outside of staking, IDO tokens can also be used to incentivize various desirable community activities, calculated on a Network Value Added basis. These incentives are organized by the foundation and voters, who have utilized their staked tokens as voting mechanisms. Again with community at its core, Idexo has rolled out a Community Development Kit to aid projects on its platform build and develop their own communities with ease. This process also generates additional yield in the Idexo general staking pool.
The constant feedback loop of growth and success Idexo has built into its platform and IDO tokenonmics truly exemplifies the importance of community building and project success in the continually evolving crypto ecosystem.
AscendEX (formerly BitMax) is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.
AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage.
To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit official website.
Idexo is the easiest way to integrate blockchain features in any application. By focusing on developing a desirable UX first and integrating the blockchain technology after, Idexo provides a simple interface for dropping in features through well-documented, short code snippets that do what they say and require minimal effort. At the same time, it offers a simple Compute Credit model for providing stable purchasing power, enabling application developers to build sustainable business models.