Beginner Course] Steemit Crypto Academy Season 3 Week 5 | Initial Dex Offering (IDO)
1). Explain in your personal opinion whether IDO should be done on cryptocurrency.
Initial DEX Offering (IDO), is a very new and exciting type of decentralized authorise crowdfunding platform, which is bringing up a new way of fundraising in the cryptocurrency industry. IDO is widely gaining recognition for crypto fundraising in the crypto industry today than any other existing platform. Looking at the substantial growth is cryptocurrency, companies and investors and others interested parties have been using initial DEX offering to raise capital for their projects and business. Commonly these IDO will give traders, investors the opportunity to exchange currency such as EURO, U.S. dollars, Naira or cryptocurrency in return for for a digital asset tagged as a token or coin. Having knowing what IDO is all about I recommend, that IDO should be done on cryptocurrency as it will allow investors and traders to swap tokens. For instance USDT/ETH, is a liquidity traders. Traders can swap them between different crypto assets and stable coins. If I DO should be done on cryptocurrency traders will have the opportunity to own cryptocurrency of their choice.
2). Can IDO have a significant impact on the cryptocurrency world?
IDO have so many significant impact on the cryptocurrency world which is not just about the none fee payment when swapping, IDO solves some problems facing in an IEO which don't allow issuers to list tokens with competing exchanges. Another significant impact on the cryptocurrency world is that an IDO can be traded instantly. This enable investors to buy their token as fast as possible when it is launched and also resell them at a higher price during the IDO. And finally, anyone can participate in IDO,in other to gain more coins.
3). Explain one example of a token that has been IDO but failed/rug pull.
One of the token, that has been IDO and fail is Refundable IDO which fail on polkastarter. The site, break down in 1 second.
4). Make a detailed fundamental analysis of 2 tokens that have done IDO, and compare the two tokens. Then give your opinion on the results of your analysis.
The first IDO was on Raven protocol which is a distributed and deep learning protocol for providing cost efficient, faster deep solutions that support Artificial intelligent and machine learning firms which are currently used by some corporations.With the support of the native REVAN token,those who contributed receive rewards by sharing the resources of their computer when the RAVEN token,is used for Artificial intelligent training.
Universal Market Access (UMA) protocol is another successful IDO project on Ethereum based platform for trading synthetic assets. Currently am organization called MahaDAO, stated that they would launch IDO for MAHA, which is their own native token. Base on the issuers,the token will regulates the world's first non depreciating cryptocurrency ARTH.
My opinion on this base on the analysis of the 2 is that REVAN which came as and AI to solve some mathematical problems is seem to be more better and useful than the UMA protocol that is base on issuing and trading of synthetic assets. REVAN protocol is very fast in neutral network trading, so to my understanding Understanding I think the REVAN will be very useful and impactful than any other token.
5). Look for 1 token that is currently IDO and explain the steps to be able to participate in the IDO.
$RAE token is built using ERC-20 token protocol, doing this will connect Rage fan players on it platform. $RAGE allow players to transfer their funds and participate in any favourite games of their choice.
Details of $RAGE Initial Dex Offering Sale:
|Total $RAGE Sale||$60000|
|$RAGE Tokens Per Ticket||$200 RAGE|
|Price of $RAGE Token||$0.04 USDT|
|Total Tickets in ETH||6000|
|Total Tickets in BSC||6000|
|Total Winning Tickets||300|
Steps To Be Able Participate in $RAGE Token Sale —IDO
Step 1: Staking $ZEE
You will first stake $ZZ on ZeroSwap Staking Module that will allow you participate in the sale. Doing this you will earn 74% APY rewards for 90 days.
Step 2: Opt in for $RAGE Sale
When you have finish staking at this stage you apply on ZeeDO https://zeedo.zeroswap.io/
Step 3: Is to Claim $RAGE tokens that you have won in POW Tickets.
To be able to claim these token you need to have ETH in your wallet to receive $RAGE.
IDO have a bright future, but more concentration is needed.With IDO decentralized exchange there is a control failure mechanism. And also when it comes to fundraising, it's relevant to have some of the control to eliminate token price change or make use of KYC regulations, which need in some protocol like IEOs,STOs and IEO.