September 18, 2020

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 and ICO sales into its platform. The company has developed what they consider to be is 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 auspices of the parent company iFinex Inc. According to Ethfinex's blog post, additional launch data is expected from day to day.

Ethfinex platform also implemented a series ofUpdates aimed at improving the user interface, ensuring the operation of the platform to support token sales. The platform will use the "random draw mechanism" so that all users can participate in sales without exception.

Ethfinex also notes that most salestokens on the platform will be held "exclusively for Ethfinex or available to Ethfinex users on favorable terms." The company intends to offer the service to small investors, whose access is often closed to the procedure for participation in the ICO, accepting only applications from accredited and institutional investors.

The "random draw mechanism" should equalizeopportunities for potential investors of all walks of life. But Ethfinex users who own the platform 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

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