After the IEO was broken, IDO came.

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.

Token

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…

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Market

Semafor The US Department of Justice is considering fraud charges against Binance, but is concerned about a FTX-style run in the market.

Insiders say that federal prosecutors are concerned that if they were to prosecute Binance, it could lead to a run on...

Blockchain

After the FCoin thunderstorm, rethink everything about platform coins and centralized exchanges

Source of this article: Odaily Planet Daily , original title "In the lifetime, was it pitted by FCoin?" &#x...

Blockchain

Bloomberg: The currency stability exchange's own stable currency will be issued in "weeks to one or two months"

According to Bloomberg News, Wei Zhou, chief financial officer of Binance, the main cryptocurrency exchange, said in ...

DeFi

FTX Drama: Scandals, Shocks, and a Crypto Crash!

Sam Bankman-Fried's fashion reputation takes a hit as Caroline Ellison's testimony proves unfavorable.

Blockchain

Behind Alipay and WeChat Joint "Sniper" Coin: Competition in cryptocurrency stocks

Text | Mutual Chain Pulse · Liang Shan Hua Rong Zhao Changpeng and He Yi did not expect that the road to returni...

Policy

The Crypto Circus: A Bug’s Billion-Dollar Bonanza

During the 10th day of Sam Bankman-Fried's trial, talks focused on a software glitch and the allocation of funds for ...