What is cryptocurrency IDO?

What is cryptocurrency IDO?

February 2, 2021 by Ranjbar Webmaster
The initial coin offering, (ICO) became very popular in 2017. Many people invested in this platform. But unfortunately, today, many ICOs have become a new and seemingly civilized way for fraudsters. To deal with this problem and wider distribution, in 2019 the Initial Exchange Offering (IEO) was created. This initial exchange offering soon became a nightmare for scammers, with centralized cryptocurrency exchanges such as Binance and Coinbase offering new Crypto tokens to investors.
What is cryptocurrency IDO

What is cryptocurrency IDO: In that year, this method also achieved many benefits. By 2020, scammers have infiltrated both platforms traditional ICOs and IEOs. This is while a new platform has entered the field of crypto. This platform is nothing but IDO.

What is Initial Dex Offering?

DeFi or IDO (after ICO) is a way to raise capital through decentralized finance. Hence, it is called Initial Dex Offering. Unlike previous methods, IDO is decentralized and used for DeFi protocols to build innovative and scalable financial systems. It should be noted, however, that it is still in its testing phase. Stay with us to get more detailed information from what is cryptocurrency IDO article.

The decentralized financial sector, which uses smart contracts instead of third-party intermediaries to fund traditional and unprecedented financial products, has become one of the brightest stars of Ethereum in recent years. We have seen significant new DeFi projects around this time around issues such as lending, artificial assets (e.g., the UMA protocol), and more. IDO does not have a definite meaning yet. But some people, such as Changpeng Zhao, the director of the famous Binance exchange, have talked about it. He said about the initial release of DeFi:

“According to copyright law, we are not allowed to write the exact text of Changpeng Zhao in what is cryptocurrency IDO article”

Binance Decentralized Exchange offers much more control over your assets without centralized asset maintenance. We hope that the initial release of DeFi will bring a new stage of freedom to our community. We will work closely with teams and projects to grow the entire ecosystem.

The most important projects in IDO

Several protocols are being tested on IDO and other protocols have completed their protocols. Raven Protocol is the first DeFi or IDO project hosted in a decentralized Binance exchange. Of course, Uniswap Decentralized Exchange is currently the principal place for DeFi for various projects. Besides in this part of the what is cryptocurrency IDO article, we want to deal with some projects such as UMA, etc. And also some applications such as Uniswap and etc.

What is Cryptocurrency IDO

What is UMA?

In the April of 2020. The UMA protocol team announced plans for initial DEX offering and listing on Uniswap on April 29. For the UMA sovereign token. Its sponsors opened 2 million UMA Crypto tokens to launch the project, or 2% of the total capacity of 100 million UMAs, using Ethereum, valued at approximately $535,000, in a Uniswap cash pool. And this was the first time the UMA token was available to the public. On the other hand, it was priced at around $0.26. Due to the UMA Crypto tokens price when it was listed on Uniswap, its price rose sharply, from $0.26 to more than $2 in just 5 minutes from its initial launch. In the continuation of the article we wrote about what is cryptocurrency IDO , we will have more exciting examples.

OPM, what is cryptocurrency IDO ?

As of early July 2020, Compound was quickly the largest DeFi project, with a total locked value of $679 Million. But a significant amount of the increase in Compound reserves has been achieved by launching its sovereign token. The COMP token was first unveiled in February 2020 as a tool to distribute power to Compound makers. In May 2020, Compound makers outlined a plan to distribute COMP Crypto tokens , which would require the removal of more than 4.2M of its 10M tokens as platform storage. Distribution was scheduled to begin on June 15, 2020, at 2,880 COMP tokens per day. But within hours of the start of the distribution, an anonymous liquidity market provider opened a COMP / ETH pool on Uniswap and began exchanging the token with the initial DEX offering.

On the first day of trading in the Uniswap pool, nearly 1,400 COMP Crypto tokens and 3,750 ETHs were released, and the COMP price rose from $ 34 to more than $ 60. In the days that followed, buying pressure pushed prices up to $ 427, although the token fell after being listed on Coinbase.com in late June. In the next section of the ” What is cryptocurrency IDO ” article, we will look at an exciting project, so do not miss it.

What is BAL?

In March 2020, Balancer Labs, the protocol support team, raised $3,000,000 in the final phase from investors such as Placeholder and Accomplice to launch its native Crypto tokens . They reported the price of each token to be $0.6. The protocol’s liquidity campaign began on June 1, and the first distribution of BAL Crypto tokens started on June 23. With the launch of Defi for the token and its listing on the Balancer, Uniswap. And 1inch list on June 23, the BAL token price rose rapidly to over $15 per token. After the price of this token reached more than $17, the BAL Crypto tokens price returned to the range of $10 in 2 weeks. The BAL token was not the last token we talked about in the what is cryptocurrency IDO article.


Named the “Godzilla of DeFi” by Coindesk, MakerDAO has been around as long as Ethereum launched in 2015. It is a loaning stage where clients can acquire the Stablecoin DAI, which is fixed to the US dollar. The way into MakerDAO’s prosperity as a loaning stage has been its decentralization.

Likewise, with all DApps, MakerDAO has no lines. Anyone around the globe can use it. Noone is subject to identity or credit checks, as they would be if they used a lending service through a bank.

The DAI uses digital currencies as a guarantee, specifically ETH, or some Ethereum-based (ERC-20) Crypto tokens , including BAT.

This Cryptographic money gets secured until the client is prepared to reimburse the loan and any incurred fees. When they do as such, the ETH will be released. Nonetheless, if the ETH value dips under a specific point. It will be auctioned off to pay the DAI that has been acquired, in addition to any punishments. These liquidations, or the danger of them, assist with balancing out the MakerDAO framework’s administration.

What is cryptocurrency IDO : Aave

The Aave team first announced Aavegotchi in July 2018. Introducing it as a project to make the DeFi experience enjoyable and blend that experience with the game. This game has the following views:

  • Aavegotchi Ghosts are non-replaceable Crypto tokens in which the aToken (for the Aave project) is placed as collateral for staking.
  • The continuous growth of collateral in Aavegotchi is due to the profit. That aToken Crypto tokens generate through the Aave lending system.
  • Traits that are created randomly and determine everything about Aavegotchi.

A couple of days after the project’s announcement. The Aave team persuaded the project designer to finish the job and complete the pixel style of the game signature. Which you can see in the image above. At this time, the project team created accounts on social media and strengthened the project’s whitepaper. DAO structure, and Crypto tokens economy. Thank you for being with us so far in reading the article ” What is cryptocurrency IDO “.

dYdX – Crypto tokens

Antonio Juliano, the dYdX decentralized platform founder, introduces the platform and explains his reasons for the effective operation of the BTC-Perpetual contract (a kind of Bitcoin futures contract with no expiration date) in the DeFi (decentralized financial industry) space. He first introduces himself and the platform he has created. According to him. This platform is a leader in decentralized financial products with the possibility of margin trading and their derivatives. In this part of the article what is cryptocurrency IDO , we will discuss it in more detail.

Juliano has been in the field of cryptocurrencies since 2015, joining Kevin Bass as a software engineer. There, he met creative and research people and closely followed the global trend in this field. His other exciting events have been working with celebrities such as Olaf Carlson-Wee, Fred Ehrsam. Brian Armstrong and meeting close guests such as Vitalik Buterin, and Ben Horowitz. Who he believes plays an essential role in shaping. They had a future for his work.

But the question in this part of ” what is cryptocurrency IDO article”.

What is behind dYdX?

“After Kevin Bass. I became convinced that there had to be world-class products that could be created on the Ethereum platform”. Says Juliano. According to him, Ethereum is a kind of paradigm in computing where applications can be approved and implemented separately. So this platform provides the space to create a variety of programs.

He will start working on his product in 2017, which was not the platform in the beginning. It was a search engine on Dapps. He admits that his initial product. Which he had been using for four months, was wrong and could not attract users. Therefore, he thinks of presenting a more practical and useful product.

Antonio believes that Cryptocurrencies’ primary use is to trade and store them, which is why decentralized exchanges like 0x and Kyber have emerged. Decentralized assets come first, followed by decentralized exchanges, followed by margin trading and derivatives.

In cryptocurrency trading markets, exchanges for leverage usually offer up to a factor of 10, which leads to tremendous opportunities. With this idea, he started working on dYdX. And in a short time, with the joining of famous developers in this field. The funds raised for this project reached $10,000,000.

Conclusion: What is cryptocurrency IDO

Initial Dex Offering comes in many shapes and sizes. But one thing is for sure: there are many more to come. On the one hand, this is because this type of offer has just started. Besides, this type of public offering is currently beneficial for the community’s prosperity around new projects. So surely more projects will follow. So the most important thing for investors is to complete project proposals that have interesting end products or MVPs, just having a Whitepaper and Crypto tokens are not very convenient these days.

Initial Dex Offering is very booming right now. This method still remains over time. Like ICOs and IEOs that have been very successful in the past. But failed to get on track and have been wholly forgotten, will be overlooked or continue to work. Will give. Share your comments with Antidolos. Thank you for being with us until the end of what is cryptocurrency IDO article.

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