Poloniex’s Tron-Only IEO Platform
This past April 5th, Poloniex just decided to reveal its forthcoming Tron-based initial exchange offering platform. This also means that the projects looking to conduct business on Poloniex’s Launch platform are faced the situation of issuing tokens only in TRX for said exchange. Poloniex states that their LaunchBase’s ultimate goal is to help quality blockchain projects grow and further develop their ecosystem. They aim to give professional advice and guidance to assist partner projects to success. Tron founder, Justin Sun described Poloniex on Twitter as one of the world-leading token sale platform, being the 15th-largest crypto exchange by volume. Sun was among a consortium of Asian investors who purchased Poloniex in October 2019.
There are caveats though as in addition to the requisite of agreeing to raise funds in TRX, partner projects will also be subject to eligibility and screening requirements. For example, companies in certain jurisdictions may not be eligible due to their area’s regulatory requirements. More details about said requirements and limitations will be disclosed in the coming days, they said. This doesn’t stop most firms though as one eager client is already raring to conduct first offering through their LaunchBase, a Tron-based stablecoin lending platform called Just (JST). Just is basically a decentralized lending platform whereby investors can stake TRX to generate the “USDJ stablecoin” which can be used to pay for actual real-world activities.
With all these good news coming out of the cryptocurrency industry as of late, it seems that even with the global financial crisis brought about by the COVID-19 issue, business is booming. With regards to this specific crypto topic though, IEOs still do face criticism over token allocations even its soaring high success. IEOs emerged as the more hopeful alternative to ICOs but the only real difference is that the issuing exchange are now the ones handling everything, including but not limited to: regulation, marketing, and userbase acquisition. A huge set of trade-offs for a significant share of the token distribution in general which may be the whole cause for concern of the criticisms in the first place. Many of the projects launched through Binance’s Launchpad for example, have been severely criticized for the centralization of their token distribution allocations. Will the same thing happen with Poloniex?
In the world of Crypto, finding the right people to do the job can be troublesome and difficult at best. This is why at FIAT Exchange, we offer an all-in-one service encompassing everything there is to launching a token offering, as well as ensuring that everything is safe and transparent with all of the legalities done first. As a pioneer in the consensus industry, we offer the tools to democratize access to finance and through our platform, investors, start-ups and established companies are able to find opportunities they otherwise never would have.
At FIAT Exchange, we have consultants to help innovative start-ups, promising businesses and even well-established corporations launch their own Initial Exchange Offering, Initial Coin Offering, Security Token Offering or Reverse Token Offering effectively, efficiently and successfully. As a constituting body, we act as partners and assist each and every project from compliance, fundraising, and to final listing in our Digital Marketplace.
While there already are other operating equity crowdfunding platforms in the European Union, we are the first to expand to become a broker-dealer and introduce to our investors an alternative Smart Securities layer, offering a secondary market where investors can trade their startup securities.
If you are an Investor looking to unlock access in the FIAT Exchange ecosystem and discover new investment opportunities or if you are an Entrepreneur looking to raise capital, we can definitely help! Please feel free to contact us: email@example.com
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