The controversial crypto exchange Bitfinex, along with its sister platform Ethfinex, announced the launch of the IEO platform, Tokinex.
Aftermuch development to ensure a user-optimized experience, we are proud to unveil the latest product in our portfolio, Tokinex, our new Initial Exchange Offering platform.
Read our announcement in full here: https://t.co/VQF4lPyAvC pic.twitter.com/NTSWtFaiRS
— Bitfinex (@bitfinex) May 21, 2019
According to Ethfinex co-founder WillHarborne, the start of the first IEO is expected just a few days after the launch of the platform. While Ethfinex will be responsible for launching the IEO, Bitfinex users will also be able to directly participate in the IEO through their accounts.
“We have no trading fees. Instead, we focus on long-term trading volumes,” – Harborne said.
In parallel with the development of Tokinex, Bitfinex also allegedly raised $ 1 billion during a private sale of its own LEO token.
Despite controversy and public criticismBitfinex, Harborne said that they decided to move forward with IEO, because any delay would hinder the progress of other projects. However, he also stated that Tokinex will adhere to strict self-regulation and self-control, especially at a time when they are under close public scrutiny in connection with the NYAG lawsuit.
According to Harborne, all projects presented on the new platform will undergo a thorough selection.
"We must recognize that we are under the scrutiny of the public, and it is inevitable that any IEO that we launch on the platform will also be viewed in the same light."