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6 IEOs That Have Taken Place Through Binance Launchpad

ยท 10 Jun 2019 in Analysis
Eric runs a private crypto investing community focused on high-value altcoins. Learn more here: https://bit.ly/2P1w5qt

This year is proving to be the year of initial exchange offerings better known as IEOs. The new fundraising method is taking the crypto industry by storm as numerous projects have managed to raise millions this way. Interestingly, the first IEO took place back in 2017 though it stayed low key at the height of the ICO fever- a mode of fundraising that IEOs now seem to be fast replacing.

Binance has been in the lead when it comes to IEOs, and the remarkable success the exchange has managed to achieve so far has seen other crypto exchanges rush to offer similar products through their own launchpads.

Below we are going to take a look at all the six IEOs that have already taken place on Binance through its launchpad.

1.     GIFTO

Gifto was the first IEO token that was offered on Binance Launchpad back in December 2017. The platform is a universal gifting protocol that is designed to be a self-governing and self-sustaining ecosystem for virtual gifts which can be curated, bought, sent, tracked and exchanged across any content platform such as Facebook, Instagram, Uplive, YouTube and many more.

Gifto was created by Uplive which happens to be the world’s fastest-growing revenue live streaming app that boasts over 35 million users across the globe. The project managed to raise its hard cap target of $30 million within minutes, and now the focus has shifted to boosting mass adoption.

There are significant integrations and partnerships in the pipeline as Gifto pursues its bigger vision of making GTO the number one social entertainment token. So far, the token is being used in gaming, live streaming, art, charity and virtual gifting.

2.     BREAD

Bread is a rapidly growing decentralized financial services platform that is being used in over 140 countries by more than one million users. Its token BRD was the second to be offered on the Binance Launchpad back in December 2017 managing to raise $32 million in just under 90 minutes.

The token allows users to gain access to premium services and functionality that is offered within its app. Users also can get rewards through the loyalty program for cryptocurrency users. The platform is working on building the world’s largest decentralized bank. And at the core, Bread offers secure wallet capabilities which are always free. Therefore, allowing users to receive, store and send cryptocurrencies to any other person around the world at any given time.

Shortly, the platform aims to be the premier way for users to store and trade all their digital assets in a secure manner without involving third parties or any centralized services.

3.     BitTorrent

Last year saw the ICO bubble burst, and increased pressure from various regulators saw many projects that had raised their funds through ICOs forced to return the money to their investors. The existence of many fraudulent projects also didn’t help, and we saw investors lose confidence with token offerings.

However, in December of last year, Binance announced that they would help various projects raise funds through their launchpad thereby addressing many of the concern’s investors might have had and restoring trust.

BitTorrent became the first IEO of 2019 that was offered towards the end of January. The project managed to raise over $7.2 million. The token sale ran in two simultaneous sessions with one involving purchases made in BNB coin and the other in TRX.

The BNB session lasted for 13 minutes and 25 seconds and saw 23.76 billion BTT tokens sold while the Tron session lasted for 14 minutes and saw 35.64 billion BTT tokens sold.

4.     Fetch.AI

Fetch.AI was the second IEO of the year to be offered on the Binance Launchpad. The token sale took place in February with the project managing to raise over $6 million within twenty-two seconds. The money will go towards funding the development of the ecosystem.

Fetch.AI is a data trading platform and digital infrastructure provider that uses the FET token as a medium of exchange. The platform makes it possible for autonomous digital entries to transact with one another without the need for human intervention. This makes the platform faster than any human operated system and ideal for rapid micro-payments and data transfers.

All in all, the platform brings together machine learning, artificial intelligence, multi-agent systems and the blockchain to create an economical internet. If you are having trouble understanding what that means its an environment where digital representatives of the economy’s moving parts like data, services, hardware, people and infrastructure can get useful work done through effective introductions and predictions.

Think of these agents as digital entities or life forms that can make decisions on their own behalf as well as on behalf of their stakeholders such as individuals, governments, private enterprises etc.

5.     Celer Network

Following on its promise of supporting at least one good project through its platform, Celer Network (CELR) became the third token to be offered on the Binance launchpad in March. The entire sale was completed in less than 17 minutes with the project successful raising its $4 million hard cap.

The sale took place in a single session and attracted around 3,129 investors. With the fresh injection of funds, the project wants to develop a fast, scalable solution that will utilize smart contracts to offer zero-fee transactions.

Celer Network is a new tech and economic architecture that aims to bring internet scalability to existing and future blockchains through off-chain scaling techniques.

So far, the platform offers users the ability to scale out billions of trust-free, secure and private off-chain TPS.

6.     Matic Network

Finally, Matic Network happens to be the latest IEO that has been offered on Binance. The token sale took place towards the end of April. Initially, Binance held a lottery with the lucky winners getting a chance to own a piece of the 1.9 billion tokens that were on offer. The sale was conducted through a single session where participants were allowed to purchase Matic tokens using BNB. The project was able to raise its hard cap of $5 million within 24 hours.

Matic Network is a layer 2 scaling solution that achieves scalability through the use of side-chains and off-chain computation while at the same time ensuring asset security by using the Plasma framework and a decentralized network of PoS validators.

With the new funds, the project aims to be the go-to platform where developers will deploy and run decentralized applications.

For over two years, UseTheBitcoin has done the research, covered the news, and helped readers find the best blockchain projects. The one thing we keep coming back to is Binance.

Binance has set itself apart as the best trading platform for beginners and experienced traders and gives you hundreds of coins to invest in. Start trading today on Binance!

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