October 20, 2020

First IEO on Ethfinex Hybrid Platform Ends in 11 Seconds

First IEO on Ethfinex Hybrid Platform Ends in 11 Seconds

Bitfinex successfully completed the first IEO conducted on the Ethfinex hybrid platform. Project called Ampleforth, was able to sell the planned stock of AMPL tokens in just 11 seconds.

Obviously, those who managed to take part in the sale will receive their AMPL tokens within the next few days, while the date of adding AMPL trading on Bitfinex is not yet known.

According to the official page, $ 5,041,156 was raised during the event at a price of $ 0.98 per token. Note that the initial hardcap of the project was $ 4.9 million, but was slightly increased.

The whole sale lasted 11 seconds. This reminds us of a situation similar to IEO on the Binance Launchpad before the exchange introduced a new format similar to the lottery. Prior to this, most of the community was extremely unhappy with the inability to participate, spreading rumors about the dominance of bots.