Initial exchange offerings are now supported by Bitfinex which is under ongoing investigation by the State of New York. The crypto exchange is going into the current bullish market trends by supporting its second new offerings recently as we are reading in the coming altcoin news.
Tokinex is an ‘’initial exchange offering’’ platform that the company announced earlier this day. Bitfinex stated that the product has passed hundreds of tests and will offer ‘’carefully curated, pre-vetted’’ tokens from the best crypto projects.
The concept of the initial exchange offering came out after the ICO boom in 2017 when Binance got extremely popular and created the Binance Coin. The coin was created as a fundraiser and a utility token for the users of the platform. Later, the IEO tokens encouraged the users to earn tokens by wash-trading. In returns, that increased the volume of the exchange but showed no meaningful trading activity.
Bitfinex stated that the platform is now adapting to the new changing market:
“What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.”
Tokinex will have its token sale on June 13th. Only users who will qualify will be able to participate in the token sale. The Tokenzied projects that use Tokinex will pay a fee if they hit a higher fundraising goal. Initial Exchange offerings and security token offerings represent the watchdogs of the next altcoin wave.
Users will send Bitcoin or Litecoin in an exchange with a predetermined amount of coins from the brand new blockchain. The majority of the projects as reported in the best cryptocurrency news sites, that have funded via ICO failed and eventually lost their value for their investors.
Tokinex is now entering a very competitive space with the most popular competitor being Binance Launchpad. Most of the exchanges have some kind of a platform that helps the new tokenized projects to lift off the ground. Launching a token via an exchange platform has a lot of benefits such as better liquidity and a higher degree of trust.
Tokinex is represented as the ‘’trusted home of token sales’’ and goes live soon.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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