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Token offerings have undergone multiple iterations over the years, fueled by the need for projects to gain recognition and liquidity for their tokens, and crypto users’ insatiable appetite for new and bigger investments. .
With a multitude of projects raising funds, the DeFi and NFT ecosystems are exploding. The last iteration of the fundraiser is called an IDO (DEX Initial Offering).
This is essentially the same model as an initial exchange offering, but with the added benefits of decentralization and more flexibility for token issuers. Given the serious liquidity that DEXs such as Uniswap and PancakeSwap now control, it’s no surprise that more and more projects are turning to IDO as a way to outsource liquidity for their tokens.
Here are seven projects that recently completed their IDO and have big plans to conquer their niche.
BENQi is a decentralized liquidity protocol based on the Avalanche network focused on fintech. It allows holders of inactive assets to lock them into the protocol in exchange for yield-producing tokens, or the assets can be used as collateral for loans. The protocol will be subject to decentralized governance by QI token holders with 50% of the supply to be distributed through cash extraction.
BENQi recently undergoes a $ 6 million private financing round led by Ascensive Assets. The round has attracted investment from Mechanism Capital, Dragonfly Capital, Arrington XRP Capital, MarketAcross and The Spartan Group, among others.
The funding will contribute to the latest push towards a mainline launch in the second quarter. Around the same time, the public sale of the IQ token will take place on the Avalanche Pangolin exchange.
2. Stack of templates
Jigstack has the ambitious goal of becoming the “Microsoft of DeFi” – creating a secure, user-centric and streamlined experience. The project believes that DeFi in its current form is broken due to the high level of risk and the fragmentation of the ecosystem.
The general idea is that DAOs govern a range of high-quality, revenue-generating Ethereum solutions, making DeFi more accessible and eliminating the need for technical know-how.
The project plans to launch its STAK token as the first IDO on its own dashboard platform, called Lemonade, which will launch soon. Lemonade aims to make it easy for anyone to launch a token with just a few clicks and potential buyers to have full transparency on their investments. The project recently raised $ 2.7 million in a private token sale.
London-based startup BlockSwap aims to unlock the growing token liquidity that is tied to staking platforms. Staking is proving to be a popular way to generate passive entry on inactive crypto, but users cannot access liquidity while it is staked.
However, BlockSwap offers the possibility of betting on major platforms through its protocol, which will generate tokens which can then be implemented in DeFi protocols.
The project is about to launch its Community Net, where it will test the platform’s functionality with a select group of users who will be eligible for incentive rewards. Users can participate by getting their hands on cBSN tokens through the BlockSwap Balancer Liquidity Bootstrapper pool. Follow the Project Twitter account for more updates.
MakiSwap aims to replicate the overwhelming success of platforms like Uniswap and PancakeSwap, but on the Huobi Eco Chain (Heco.) It will feature an automated market-building protocol and crop production platform, powered by Unilayer.
Another project with the support of VC, MakiSwap recently introduced $ 1.4 million in seed and private funding from Inclusion Capital, QCP Capital, Polygon Network and others. The project will perform an airdrop for LAYER token holders on May 2. On the same day, Unilayer will release a limited edition NFT with a special utility.
TeraBlock develops an ML-compatible cryptocurrency exchange, allowing traders to automate the management of their portfolio. Machine learning algorithms are constantly learning and improving to ensure successful trading with effective risk management.
The project has already partnered with Binance Cloud and the Binance platform, which means the exchange will offer access to all cash and token pairs on one of the world’s largest trading platforms. . Binance will also handle backend functionality, including fund management, security, and user registration.
End of April, Terablock completed a successful funding round where he raised $ 2.4 million from large investors including AU21, BSCPad, x21 Digital, and many more. Perhaps unsurprisingly, given the Binance connection, TeraBlock launched its IDO on BSCPad on May 11.
Hord is a protocol that allows users to create and trade ETFs, called token baskets. It is comparable to the copy trading methodology in that participants on Hord are either champions or part of the word of a champion.
Champions are market leaders, professional traders or funds who disseminate their portfolio data using a Champion smart contract. Users who want to copy the investment deposit their funds in a mirror contract that replicates the investment. Users are given a token to represent their deposit, which can be redeemed at any time or redeemed on the Hord DEX.
Hord has already secured the backing of investors including AU21, Master Ventures and Blue Bridge Financial. On April 23, the project underwent a triple IEO on Gate.io, Kucoin and Flybit, as well as a listing on Uniswap.