This article was originally published here.
Bittrex, one of the most popular digital currency exchanges in the market, introduced on March 11 a new Initial Exchange Offering (IEO). However, one of the interesting things about this is that Bittrex did not inform whether Chinese nationals will be able to participate in this IEO.
Bittrex Launches New IEO
Bittrex seems to be following the footsteps that the Binance exchange took a few months ago when it introduced its “Launchpad,” allowing users to purchase ICO tokens from recognized projects. This shows that Bittrex wants to challenge the dominance of Binance Launchpad and its services.
The exchange will be offering support to the XRD token that is the coin used for the South Korean blockchain platform RAID. The main intention behind this project is to reward gamers for sharing data that allows the firm to improve its services, marketing and business development.
Bill Shihara, the co-founder and CEO of Bittrex, commented about t:
“We are committed to increasing adoption and moving the blockchain revolution forward. The ability for projects like RAID to innovate, advance and promote the gaming industry on our platform is a game changer for all involved.”
Moreover, this exchange will offer “the peace of mind” that Bittrex International provides due to the fact that the exchange is regulated in Malta. Malta has been working in order to promote flexible regulations in the digital currency space.
Users will be able to purchase 17 billion XRD tokens that can be purchased using Bitcoin. Each of the XRD tokens costs 0.00000010 BTC and the maximum purchasing limit is 57 million. The minimum investment is 30,000 XRD.
Taesung Kim, the co-founder of RAID, explained that the firm had gone through a highly selective process to be accepted in the platform. He said that this shows that they have received a vote of confidence in the gaming industry.
Changpeng Zhao, the founder and CEO of Binance, the largest exchange in the market in terms of trading volume, said that he is glad to see more exchanges “joining the club.” He mentioned that they firmly believe that blockchain fundraising is the killer application.
Glad to see more joining the club. We firmly believe blockchain fundraising is the killer app. Let’s use it to help our entrepreneurs and #BUIDL our #crypto industry, and other industries after that. (happy to promote a peer to grow the industry) https://t.co/DVbZRAEB7n
— CZ Binance (@cz_binance) March 12, 2019
Binance Launchpad has launched the BitTorrent Token (BTT) a few months ago with a very huge repercussion in the crypto space.