Eastern Europe’s first IEO
Paytomat announces an Initial Exchange Offer on the EXMO exchange. Find out everything about it in our new release.
Today we have some very important as well as existing news for you. On April 1 (this isn’t a joke), EXMO is launching its first IEO, and we’ll be the first project to test this new model of token distribution.
If you’re following the latest crypto-news, you have probably seen these three letters. IEO or Initial Exchange Offering gradually replaces another abbreviation — ICO or Initial Coin Offering. Both of these models are designed with the mutual goal — to give investors the opportunity to buy the project assets, and the team to get money for the development and execution of project. However, they are not the same.
In recent years, the ICO, as a phenomenon, has greatly discredited itself due to the enormous amount of scam, unfulfilled promises, etc. In 2018 it became obvious that using this tool would hurt the project rather than bring real benefits, and therefore, as you remember, we decided to cancel our own ICO stage.
IEO is a new phenomenon, but has already proved to be quite popular. Its key difference is in the role of exchanges and the purchasing mechanism for the investors. With IEO, the tokens (or coins) of the project are immediately listed on the exchange, which, in turn, distributes them among investors. The advantages of this approach are obvious. The project doesn’t have to wait for listings; the exchange handling an IEO is responsible for meeting the conditions, not just the project team; and don’t forget about the already existing exchange community, among whom tokens are distributed. The only requirement for the investor is having an account at the exchange itself, which is not something extraordinary in 2019.
The Partnership and Conditions
As you may have found out by now, Paytomat decided to use this promising method and become one of the pioneers who tried IEO. We chose an EXMO exchange as a partner. Why specifically this platform? The answer is simple: it has a strong team, collaborative long-term plans, and authority among the community. In turn, EXMO is interested in the project due to us having a set of working products, an established infrastructure and a clear vision of what we can offer to the market (from tokenomics to technology stack).
Now, let’s move on to the most interesting part — the conditions of the future IEO.
So, Paytomat IEO.
Starting Date: April 1, 2019
Token Ticker: PTI
Hardcap: 100 BTC
Personal limit: unlimited.
Time: Three days.
- Day 1–850,000 PTI for 1 BTC
- Day 2–750,000 PTI for 1 BTC
- Day 3–650,000 PTI for 1 BTC
As you can see, we’ve set only three days on this proposal while limiting the hard cap to 100 BTC. This strategy will allow us to attract a high-quality audience, which keeps abreast of crypto-events and can evaluate the prospects of this proposal.
This event is open to anyone with an active EXMO account. If you already have crypto on your account, you should simply transfer it into BTC and wait for the IEO to start. If you do not have an EXMO account, we recommend to create and deposit it in advance.
All information can be found here: https://exmo.com/en/support
That’s it for today! Follow our official channels, and have a great IEO. Don’t hesitate to ask any questions (if you still have them) at one of our official chats.