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What is the Initial DEX Offering (IDO)? Here are the best IDO launchpads of 2022

Initial DEX Offering (IDO) is one of the crypto industry’s innovative approaches to raise funds. This is an alternative fundraising approach pioneered by the industry after the Initial Coin Offering (ICO) drew much ill will in 2017. ICO is an unregulated approach to raise funds from retail investors. Although IOCs made many early investors millionaires overnight with their impressive profits, many retail investors also lost money as several ICO projects turned out to be outright scams/quick cash grabs.

New investors have been discouraged from investing in the crypto space due to the negative impression of ICO projects. Decentralized finance (DeFi) has attempted to address this issue by creating alternative fundraising models, and the DEX (Decentralized Exchange) model is one such approach.

What is an IDO?

An IDO is the latest fundraising approach used by crypto projects to raise funds from investors. It is a token offering on a DEX. Liquidity pools (LP) play a crucial role in IDOs as they create liquidity after the sale. IDOs allow users to lock funds in the DEX to generate new tokens. Some of the funds raised through IDOs will be added to a liquidity pool with the new token before being returned to the project.

Also Read: Why is Dock (DOCK) Crypto making a splash today?

These liquidity pools are one of the main reasons for the success of IDOs. Liquidity allows DEXs to function smoothly. This is why liquidity providers are rewarded by DEXs.

Early investors in a crypto project can sell their project tokens at a higher price once that project’s IDO goes live. Early investors have the benefit of being able to buy large amounts of tokens at a discounted price and later sell those tokens at a higher price after the initial sale has taken place.

Another positive aspect of an IDO is that investors do not have to wait long for the token to be listed. Here the list is made immediately after the completion of the IDO. This allows investors to liquidate their investment faster compared to ICOs.

IDOs are a cheap and easy way for projects to distribute their tokens. However, IDOs also have certain limitations. DEXs are not scalable. While projects have raised over $1 billion through ICOs, they may not be able to raise such large amounts through IDOs. This is mainly due to the lack of knowledge about DeFi platforms, which prevents new crypto traders from investing in IDOs. Also, DEXs are vulnerable to hacking. In the past there has been news of hackers siphoning investor funds from DEXs.

Also Read: Want to Become a SHIB Millionaire? CoinJar has a present for you when it turns 9 years old

The Best IDO Launchpads of 2022

Here are three top IDO launchpads of 2022

Binance Launchpad

Binance, one of the most famous crypto exchanges worldwide, has its own IDO launchpad known as Binance Launchpad. On this platform, participants who can invest in the upcoming IDO will be selected via a lottery system. This is based on the Binance Smart Chain (BSC) and users can use their Binance coins to get a lottery ticket to participate in the IDO. According to the information available on the Binance Launchpad website, it has launched 64 projects so far and helped them raise $130 million. Over 3.5 million unique users participated in these IDOs.

OKEx launchpad

OKEx is a prominent crypto launchpad project that has helped launch successful IOCs like Perlin, Beam, and Harmony. OKEx has its own token launch platform called OKEx Launchpad. It allows crypto projects to raise funds and connect with a global community of crypto enthusiasts. OKEx Launchpad lists projects for a limited time. In this time frame, OKEx users can stake OKB (native coin of OKEx) and receive the tokens issued by these crypto projects. The more OKB-Coins users stake, the more tokens they can get.

Also Read: Decentraland (MANA) vs The Sandbox (SAND): How Do They Stack?

KuCoin Spotlight

KuCoin is a top cryptocurrency exchange in China with a global customer base of over 10 million. KuCoin Spotlight is its own token launch platform. What is unique about Kucoin Spotlight is that users can earn rewards for trading specific digital assets. KuCoin Spotlight has launched 20 projects so far with the highest ROI for these projects exceeding 924x according to the data available on the exchange.

Risk Warning: Trading cryptocurrencies involves a high level of risk, including the risk of losing some or all of your investment, and may not be suitable for all investors. Cryptocurrency prices are extremely volatile and can be affected by external factors such as financial, regulatory or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) are subject to change. Before deciding to trade any financial instrument or cryptocurrency, you should fully understand the risks and costs involved in trading the financial markets, carefully consider your investment objectives, level of experience and risk tolerance, and seek professional advice if necessary. Kalkine Media cannot and does not represent or warrant that the information/data available here is accurate, reliable, current, complete or suitable for your needs. Kalkine Media accepts no liability for any loss or damage arising out of your trading in or reliance on the information shared on this website.

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ApeCoin (APE), Decentraland (MANA), Quitriam Finance (QTM)

Top NFT Crypto Tokens to Watch: ApeCoin (APE), Decentraland (MANA), Quitriam Finance (QTM)

ApeCoin has outperformed competitors like Decentraland (MANA), The Sandbox (SAND).

The advent of cryptocurrencies has caused many minds to reconsider how the financial system works. Society has become accustomed to these technological advances and a few individuals have made significant fortunes as a result of using them.

This article examines three NFT projects (two have already started and one is currently in presale) that you should check out.

ApeCoin

ApeCoin (APE)

Members of the Bored Ape Yacht Club NFT Collection received their cryptocurrency, ApeCoin (APE), in March 2022. ApeCoin has surpassed competitors like Decentraland (MANA), The Sandbox (SAND) and others to become the largest NFT coin in terms of market cap of $4.2 billion within a month of its launch.

APE is the ERC-20 utility and governance coin of the APE ecosystem. It enables the development of a decentralized APE community at the forefront of Web 3.0.

APE is governed by the ApeCoin Decentralized Autonomous Organization (DAO) and funded by the APE Foundation. APE owners can vote on governance ideas for the DAO and have access to APE-exclusive features like games, events, and services.

Decentralized (MANA)

Decentraland (MANA) strives to establish a virtual shared space that is fully owned and managed by its members.

In short, Decentraland is a blockchain technology-based platform that enables the development of augmented reality landscapes where users can buy, sell or rent plots of land stored as NFTs on the Ethereum (ETH) blockchain.

As a decentralized virtual reality platform, Decentraland allows users to build their virtual reality worlds, sell their content, and even earn Decentraland tokens by hosting other users in their virtual reality world.

MANA launched at $0.024 during its Initial Coin Offering (ICO) and hit an all-time high of $5.90 on November 25, 2021, a gain of about 24,483%. At the time of writing, MANA token has fallen to $2.05.

ApeCoin

Quitriam Finance (QTM)

Quitriam Finance (QTM) is a pre-sale project that is actively developing a fun ecosystem consisting of mithril mines, furnaces, and forges.

Users within the Quitriam ecosystem can harvest mithril, a virtual material used to craft NFTs and other in-game items such as armor and other medieval-inspired gear, which generate revenue and can be exchanged for Quitriam Finance’s cryptocurrency, QTM.

Quitriam Finance is taking it a step further by attempting to build an all-in-one P2E platform equipped with a native decentralized exchange (DEX) called Quitriam Swap, which allows users to exchange their tokens without the to leave the platform.

The QTM coin is the protocol’s native token. QTM holders can access liquidity mining services through a one-click interface.

What makes Quitrium Finance unique?

Quitriam Finance’s main offering will be a decentralized exchange. The platform aims to help retail customers access yield farming platforms and build a passive revenue stream through liquidity mining.

The Quitriam Finance environment will serve as an incubator for new coin launches and provide liquidity solutions as the network includes a decentralized exchange. NFTs will be interchangeable across chains.

Quitriam’s goal is to remove bottlenecks in the decentralized exchanges (DEX) industry. Currently, most decentralized exchanges charge significant withdrawal fees for liquidity pool tokens, with users not getting a full share of the fees.

The interoperability of Quitriam’s decentralized exchange with many different chains will enable rapid exchanges across multiple blockchain networks. Additionally, since Quitriam Finance is a multichain network, it circumvents the problem other Ethereum-based DEXs suffer from.

Conclusion

Pre-sales are a great way to get involved in the launch of new and successful cryptocurrencies. Investing in Quitrium Finance early offers a number of benefits.

To name a few, investing in pre-sales allows you to purchase QTM at a reduced price, allowing you to buy more and benefit from it much more.

Additionally, you get exclusive access to incentives, free airdrops, and the ability to trade QTM tokens on exchanges before they become widely available.

Now available at a fair price, QTM has the potential to increase its value by 50x or 100x due to its compelling use case, which could mirror the success of ApeCoin and Decentraland.

Quitriam Finance pre-sales and contact details

https://presale.quitriam.io/register

https://quitriam.io/

https://t.me/QUITRIAMFINANCEOFFICIAL

https://www.instagram.com/quitriam_finance

Disclaimer: The information published in the article is for educational purposes only. By using it, you agree that the information does not constitute investment or financial advice. Do your own research and consult financial advisors before making any investment decisions.

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GMT Crypto: What you need to know about the STEPN network ahead of Binance IGO

One crypto that has attracted investor interest lately is the STEP (GMT USD) network. The platform uses blockchain technology for a unique goal: to make users move their feet. Could Crypto Rewards Be the Next Frontier for Incentivizing Exercise? And if so, could STEPN be a leader in this area? The network is trying to establish itself as such. Recently, the GMT crypto has received a lot of support binance (BNB USD).

Source: Primakov / Shutterstock

STEPN is a young blockchain project that wants to start a new movement in space. The developers of the network, which launched last August, hope STEPN will serve as a launch pad for the move-to-earn economy. Move-to-Earn, starting with STEPN, seeks to empower users. One can join the platform and earn passive income by running through GPS tracking.

The network uses non-fungible tokens (NFTs) to distribute the rewards to players. You have to buy one of four different NFT sneakers – each NFT is linked to fitness level. For example, you can buy the “Runner” NFT if you’re a fast runner, or a “Walker” NFT if you prefer to take things slow. By owning an NFT and connecting to the network via GPS, users earn passive income for their workouts.

The idea is innovative and quite unique compared to other projects. Not to mention that the network has already garnered support from the fitness industry; Adidas manager Scott Dunlap is acting as an advisor to the STEPN network.

GMT Crypto sees rapid growth with Binance Listings, IGO

Since the launch of the GMT crypto in early March, it has already seen some solid gains. In the past few days, these gains have increased significantly. Much of this is due to the help the network is getting from Binance to expand its footprint.

Starting today, Binance users can find STEPN NFTs on the exchange platform’s NFT marketplace. The exchange hosts the first game offering from STEPN or IGO. IGO events are separate from Initial Coin Offerings (ICO) and focus solely on NFTs.

As a new way of public listing for the blockchain world, IGOs ​​are the first chance for the public to participate in projects like STEPN, Metaverse and Play-to-Earn platforms by buying the required tokens. In the case of STEPN, users can purchase the sneaker NFTs required to generate passive income.

The news builds on some previous Binance news that greatly benefited the GMT crypto. In late March, the exchange announced that it had created GMT liquidity pools, giving users the ability to earn passive income from their assets through liquidity mining. The news preceded the biggest catalyst crypto has seen to date; Prices rose from 78 cents to $3.11, a nearly 300% gain.

At the time of publication Brenden Rearick held (neither directly nor indirectly) positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publicity guidelines.

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