Crypto Diaries: An Overview of the IFO & a few promising blockchain startups

Find out about a new trading instrument Initial Futures Offering (IFO) & Sia Network, Anchorage, NEAR Protocol & Chia Network

I wrote about Polkadot Protocol last month — an open-source “para chain (parallelized chains)” framework that provides scalable & seamless interoperability between different networks. It intends to create a decentralized economic hub where data of blockchains, applications, and money could be shared in a secure, scalable & decentralized fashion. Later last month, in a private sale it sold 500,000 Polkadot’s DOT tokens, in line with the $1.2 billion valuation given by the Wall Street Journal earlier in the year.

More recently, World’s first physically delivered cryptocurrency futures exchange CoinFLEX has announced the launch of Polkadot’s DOT tokens via its novel concept of Initial Futures Offering (IFO). CoinFLEX is creating a Futures market for digital coins that don’t exist yet.

It launched back in April with four futures contracts including Bitcoin & Ether and issued its own native token for the platform dubbed FLEX earlier this month. Trading is live in its flagship IFO as we speak — where up to 300 FLEX token holders have access to “discount” contracts…