Poloniex exchange announced the launch of the IEO platform and the first token sale
Cryptocurrency exchange Poloniex on Sunday announced the launch of its own Initial Exchange Offerings (IEO) platform called “LaunchBase”.
“The LaunchBase platform will work closely with projects, community members and industry partners to promote quality cryptocurrencies worldwide, including the sale of tokens to eligible Poloniex platform members. All participants will be subject to compliance checks, ”the company writes..
In addition to organizing sales, Poloniex promises to provide professional advice to projects participating in LaunchBase to help them become more in demand.
The first IEO on LaunchBase will host a stablecoin landing platform based on the TRON blockchain called “JUST”. JUST users are encouraged to stake TRX to issue a USDJ stablecoin pegged to the US dollar at a 1: 1 ratio. The JST platform’s own token can be used for interest payments and other functions..
LaunchBase will distribute tokens on a first come, first served basis. This model was practiced by many cryptocurrency exchanges at the dawn of IEO, but later abandoned it in favor of fixed allocations due to the increased activity of bots, which sometimes led to the completion of campaigns within a fraction of a second. JST token sale will be conducted for TRX.
When exactly IEO JUST will take place and on what conditions, Poloniex does not specify.
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