ICOs went out of fashion and IEOs began to take the front stage from late 2018 till date, the reason for this is because of the assurance that IEOs breeds in contrast to ICOs. For instance, participants of an IEO sale already know the exchange on which the tokens they are about to purchase will be traded on, when trade is likely to begin, transparency in regard to amount raised and what have you, this is in very sharp contrast to the now defunct ICO method where things remain vague upon completion of sales and investors are left at the mercy of project developers thereafter.
This was what informed the Idea behind the tokoin token sale on Kucoin on the 23rd of August. Tokoin is a project aimed at helping micro, small, medium enterprises in obtaining the right amount of funds required to grow.
Details of the tokoin IEO sales and road thus far
The tokoin IEO sales on Kucoin was split up in phases and the total tokens allocated for each phase was completely sold out in split seconds, the total amount of money to be raised from the sales was exactly a million dollars and that was successfully raised in quick time. The price of a single token at the IEO was pegged at 0.02 USD.
For the sake of simplicity and ease of use and purchase by investors, the token was designed to be ERC20, that's built on Ethereum network, these tokens are purchasable with the Kucoin native tokens (KCS) only , with about fifty million available for sale in total.
Participation rules
Due to popular demand the tokoin token sale was meant to run based on a lottery system where investors are allowed to purchase tokens based on the amount of KCS ( Kucoin shares) tokens they hold within a given period of time. In this system, one person is allowed to accrue up to 8 tickets depending on the amount of tokens held.
More on the IEO
Spotlight is usually the name given to the Kucoin IEO sales, and tokoin is the fifth project to get listed on the kucoin spotlight, all the tokens allocated for sale got sold out in split seconds, that wasn't the only intriguing thing about the Kucoin IEO though, the token price went as high as 0.18$ per token from the initial listing price of 0.02$, this is a feat not so many projects in the space have been able to successfully pull.
For this many other reasons related to development the tokoin IEO on Kucoin was rated to be among the best performing IEOs of 2019. The tokoin spotlight sales have been the talk of the entire crypto space ever since the end of that sale till date, a number of reputable crypto website have made positive reviews about the project over the past few days.
Final notes
Tokoin is a one in town crypto project with a very sustainable platform and use case. This project appears to be exactly what the space has been lacking all these years in terms of sustainability and adoption. With tokoin, the future of blockchain is secured.
USEFUL LINKS
Website: https://www.tokoin.io/
Twitter: https://twitter.com/TokoinOfficial
Facebook: https://www.facebook.com/TokoinOfficial
Author's Telegram ID: @Dedek