March 19, 2024

Ethfinex intends to offer ICO and token sales to its users

Ethfinex intends to offer ICO and token sales to its users

Ethfinex plans to introduce token sales and ICOs into its platform. The company has developed what they believe isis a fairer method of attracting investors.

Ethfinex will soon offer usersthe opportunity to participate in ICOs provided directly through the exchange platform. Both Ethfinex and Bitfinex are under the umbrella of the parent company iFinex Inc. According to the Ethfinex blog post, more launch details are expected any day now.

The Ethfinex platform has also implemented a seriesupdates aimed at improving the user interface, ensuring the platform works to support token sales. The platform will use a “random draw mechanism” so that all users without exception can take part in sales.

Ethfinex also notes that the majority of salestokens on the platform will be conducted “exclusively for Ethfinex or available to Ethfinex users on favorable terms.” The company intends to offer the service to small investors, for whom access to the ICO participation procedure is often closed, accepting only applications from accredited and institutional investors.

"Random drawing mechanism"must equalize the opportunities for potential investors from all walks of life. But Ethfinex users who own the platform's loyalty token, Nectar (NEC), fall into the platform's "Superuser" category and have their own privileges.

To participate in the ICO, users will need to go through KYC through BlockPass. Upon completion, users are allowed to participate in current and future token sales.

The emergence of new hopes

There was a noticeable decline in the sector in 2018ICO, so the new Ethfinex ICO platform could be just the thing. Of course, its representatives are fully aware that ICO funding has dropped from $2.5 billion in February to $181 million by September 2018. Perhaps the Ethereum-based decentralized exchange is hoping that ICO activity will increase in the event that a long-awaited fund of institutional investors floods the market in the first quarter – Q2 2019.