Exchange

Orionix Enters into Partnership With Shortex Exchange for IEO

Orionix has recently announced that customers would be available to buy its token ORX on Shortex exchange, and this purchase option will be made available from October 7, 2019 (4 pm UTC) onwards. Thus the “virtual goods and services exchange platform” has decided to enter into a partnership with Shortex, which is a virtual asset platform that offers an integrated P2P (Peer to peer) solution. Thus, Shortex provides a medium to purchase, sell, trade, market as well as transfer crypto besides investing in young enterprises. It has recently secured the 4th rank on CoinCodex for IEO projects, where IEO stands for an Initial Exchange Offering.

An IEO implies that the exchange is carried on the crypto exchange platform itself and is facilitated by this exchange for the startup that is trying to generate funds with its tokens that have been recently issued and this is what distinguishes it from an Initial Coin Offering (ICO). The token is sold on the platform of the exchange, and thus, the issuers of the tokens are required to pay a listing fee added to a percentage of the tokens that are sold during the IEO.

Orionix is a “digital asset trading platform” which is powered by blockchain technology and where customers are can sell, purchase, trade various gaming products, services, and accounts. As Orionix claims, “gamers and investors will intertwine to discover an innovative project with insightful strategies for this coming era.” The exchange platform is commission-free and is operated by the token called ORX, their primary task is to link the dynamic gaming market to the cryptocurrency stream. Orionix had started with ICO as they had initially intended to apply a P2P logic and thus ICO was given the preference especially for the development of a project to generate the funds needed for further growth among investors. Gradually the Orionix team decided to look for IEO partnerships as they realized that  ICO was no longer in vogue and many of them had become “prey to bogus cryptocurrencies.” Hence the research and negotiation process started with different exchanges with IEO projects.

Negotiations resulted in Shortex matching the criterion that the financial division was looking for, as the former attached a lot of importance to communication and responded to the many questions posed by the Orionix team. The partnership was made official after the discussions were finalized internally and the listing procedure was complete and as reported Shortex would offer the sale and purchase of ORX this October onwards.

In the honor of this budding partnership with Shortex, Orionix also took to Twitter to announce a giveaway of 100000 ORX to 10 winners who would be chosen on a random basis. One can participate through “like,” “comment” or “retweet”. While the company seems to be quite excited for this upcoming partnership, it remains a matter to be seen that how much useful this union proves to be for both Orionix and Shortex as well as most importantly, how well this goes down with their investors in future.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.
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