We all know what ICO and IEO are, then IDO (initial DEX offerings)?
Today, a blockchain and AI startup called Raven Protocol, a "completely decentralized" network, hopes to "make the power of AI and ML (machine language) transition from large companies like Amazon, Facebook and Google. In the hands of the community – the company announced the sale of tokens at the Binance DEX.
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The recently launched decentralized exchange was operated by 11 “validators” with close ties to the company.
Raven's circulation is 10 billion, of which 300 million will be allocated to this sale, and will be sold at 0.00005 BNB, equivalent to about 0.0016 US dollars.
The sale will begin on June 17 and will end on the next day or when the raised funds reach the upper limit ($500,000). Although Binance DEX runs on a decentralized agreement, investors still need to complete the traditional KYC process; upload a selfie, submit proof of address, and so on.
Raven stressed that the upcoming IDO "is not initiated by the currency security, Binance Chain or Binance DEX", but Raven's own "privilege" – with the unanimous support of 11 DEX verifiers.
"The 11 Binance Chain verifiers voted for the Raven protocol to go live," Raven wrote in a blog post.
This seems to be another form of ICO – but this time, the central agency does not seem to be responsible. In addition, Raven did not specify the details.
“What is IDO?” Raven asked in his blog. "We don't know. Because Binance DEX is a new platform, we have never done anything before."
Interestingly, all this happened after Coin announced that its main station would ban US customers from using its platform. We want to know what the SEC will look like…