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Last Updated : Mar 14, 2019 07:12 PM IST | Source: Moneycontrol.com

OKEx announces upcoming launch of IEO Platform "OK Jumpstart"

IEO allows selling tokens to finance early-stage projects.

Moneycontrol News @moneycontrolcom

OKEx has announced that a new IEO (Initial Exchange Offering) platform to incubate high-potential projects and support early entrepreneurs, named "OK Jumpstart" will soon be launched.

OKEx began its research on different token launch methods since July 2018 when the OKNodes platform was launched. For high-quality projects and early entrepreneurs, it is believed that the IEO model is an ideal method for them to kick-start. By saving the time and resources for getting listed on exchanges, project teams will be able to focus on project development and community management.

"We are happy to launch 'OK Jumpstart' as our own IEO platform. I believe the IEO model will bring considerable advantages to both the exchange and project developers, particularly start-ups can conduct their launching process easier and more streamlined," said Andy Cheung, Head of Operations of OKEx. "In view of the demand for IEO growing so fast, 2019 will be the year of IEO, and we expect to see more innovative projects be hatched from this platform."

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IEO serves similarly to the Initial Coin Offering (ICO) -- both allows selling tokens to finance early-stage projects. However, the key difference is that both the project developer and the investors facilitate their transactions through a third party -- a reliable exchange. The exchange acts as a guarantor and conducts a project due diligence check on the project team. Having IEO to streamline the process, developers are no longer required to perform KYC verifications. Indeed, it can bring about widespread publicity and a quicker listing process.

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First Published on Mar 14, 2019 07:12 pm
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