Corona Virus Shakes Markets, Giant Bitcoin Exchange Announces New IEO
OKEx has announced its 11th Exchange-based token sale soon on the Jumpstart platform. Will the investors try to make a fast return while the crypto market is still in decline?
OKEx Helps Launch Entertainment Platform’s Token
Malta-based OKEx, which operates a spot and derivative trading platform, will launch the DEAPCOIN (DEP) sale on April 8.
Token will feed the DEPA platform, an entertainment ecosystem where users can get token prizes while playing free games and manga.
The platform consists of various components such as DEA Bank, Gaming Company, Digital Art Auction, PlayMiner and Creator. Gaming Company will be the place where users can acquire DEP.
OKEx CEO Alysa Xu explains:
We are happy to partner with DEAP and to be the only platform selling DEP tokens. DEAP shares with us the view that blockchain technology will be massively adopted as an important tool for many industries.
CEO stressed that OKEx will focus on expanding its reach in various sectors, in particular, it will support the integration of distributed notebook technology (DLT) with existing industries to “create greater synergies”.
After the token sale, OKEx will include DEP / USDT and DEP / USDK rates on the spot trading platform. The total supply of DEP tokens is 30 billion.
IEOs Live During the Crisis
Crypto initiatives still rely on IEOs to raise money. This method of crowdfunding is far more successful than the first crypto offerings (ICOs), which have become extremely suspicious due to a large number of frauds.
However, this does not mean that IEO tokens are different. Even good exchanges can support low-quality projects by mistake or knowingly. If the project fails, the stock market platform will likely delist the token and pin the first traders with potentially worthless coins. Therefore, due diligence is mandatory before selecting an IEO project.
The most popular crypto exchanges that organize IEO statuses on their platforms are OKEx, Binance and Huobi. OKEx’s latest announcements prove that the crypto market is active despite the general crisis between the coronavirus pandemic.