Only, recently, Bitfinex forayed into the Initial Exchange Offerings (IEOs) domain. And soon it launched its new service called Tokinex. The exchange reported that the new platform would release its first token launch on 23rd of this months and the second one will take place on the 13 of June. The expanding wings of the crypto exchange fit well with the vision of the CEO of the exchange and Ethfinex- Jean Louis van der Velde. As per Velde, in today’s times, no more being exchange is limited to just selling or buying or trading the cryptos. The crypto exchange has to fill the shoes of an “entire ecosystem.”
The uniqueness of Tokinex-
The recently launched platform claims that it offers well chosen and thoroughly verified token sales to its users. The user’s comfort and ease are the main focus of this project.
When will we see Ampleforth token sale?
Yesterday, as planned, Tokinex unveiled its first IEO. It is a digital asset protocol called “Ampleforth (AMPL).” The Ampleforth sale will start on the 13th of June at 1300 HRS UTC. It will end in two scenarios- either the sale should reach the targeted 4.9 Million USD hard cap, else it will end on 19th of the same month.
AMPL tells you exact and liquid exchange rate information. It makes use of the trusted “oracles” to do so. As per the company’s blog, it is “synthetic commodity money.” The information is then shared with the AMPL holders by proportionate up and down in the number of tokens based on each user. This gives out a final rate. The benefit of this process is that it involves less correction.
Advantages of Ampleforth-
Moreover, the benefits of this process extend to a good assortment in the crypto portfolios, it also acts as a “reserve collateral in decentralized banks such as Maker DAO,” and also, it makes the centrally controlled money- optional. The CEO and the founder of Ampleforth explains it best-
We see Amples as having a near-term utility that naturally dovetails into a much bigger vision, and I can’t wait to see it unfold […] The Bitfinex and Ethfinex communities are among the best in the industry, and we are excited to work alongside their team for Amples’ exchange debut.
For those who are interested in participating in this initial exchange offering, all they need to do is first to get themselves verified for the IEO token sale. They can do so with the help of “BlockPass app.”
As of now, this token sale is not open for the U.S. citizens, and other restricted jurisdictions are not allowed to take part in it.
The CEO of Bifinex- Jean-Louis van der Velde, thinks that the Ampleforth can be the “future reserve currency.” He credits this potential to the uniqueness of this project. He further added-
We believe it can provide a unique volatility profile, uncorrelated to other digital and traditional assets. This uncharted territory makes Ampleforth, and the team behind it, the perfect first project to list on Tokinex, and we are excited to provide an opportunity for the community to be a part of it.
The entire process of IEO offers a great opportunity for fundraising. One can say the Bitfinex is following the footsteps of OKCoin, KuCoin, Binance, etc. Usually, the services such as handling the KYC, AML verifications on behalf of the start-up, incurs heavy fees by the exchange. But in the case of Tokinex, it will not be facing the fees and other costs. In addition, as the company’s officials, upon the successful completion of the fundraising, the token is expected to get listed on Bitfinex and Ethfinex.