Bittrex to Host the Raid XRD Token Initial Exchange Offering
By Jamie Green – Crypto Dealer
Bittrex International users will soon be able to purchase RAID Tokens (XRD) at a fixed cost through an Initial Exchange Offering (IEO), as detailed through their blog. The tokens will be directly purchased from the issuer through Bittrex’s platform, initially available to verified Bittrex International users.
IEOs are not a conventional method of raising funds and only a few projects have chosen to conduct one, however, Bittrex is not the first exchange to show interest in this concept. Binance introduced the Binance Launchpad at the end of last year which is a platform allowing users to sell crypto for new tokens at a fixed priced.
This process is very similar to an ICO but is conducted through the exchange as opposed to direct between consumers and issuer. Projects could be attracted to these launch platforms as the infrastructure is already in place along with awareness to investors. These projects will still need to convince potential investors to cash out crypto or exchange Bitcoin they may have for a token that is yet to function.
RAID will be using the Bittrex launch platform to attract investment to fund an international gaming data blockchain project for the development of new technologies, rewarding gamers for sharing data for the improvement of the industry. The funds raised through selling crypto will help towards marketing and new business development for gaming companies.
Bittrex have an active interest and commitment to increasing adoption of the blockchain industry and moving it forward. RAID is the first project that is offering an IEO through the Bittrex platform for the innovation of the gaming industry. This collaboration between exchange and project will help alleviated investors concerns as Bittrex International is regulated in Malta and projects looking to utilise the launch platform will be subject to its regulation.
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