It has been estimated by a very recent study that over twenty billion United States dollars has been raised through ICOs (initial coin offering) since 2017 till present. This goes a long way to tell how successful crypto projects were in raising funds through ICOs. Recently IEO (initial exchange offering) seem to have become the in thing, IEOs hold their sales directly on exchanges unlike ICOs that proceed to list on exchanges after funds have been raised outside the exchange.
The tokoin IEO
Recently a project that started its development a year ago held its initial exchange offering (IEO) sale on one of the world's leading cryptocurency exchange called Kucoin. The fascinating thing about the sale wasn't just the fact that it got sold out in few seconds, it was the amount of reception it garnered from investors afterwards, seeing as it went almost 10 times up from the IEO price.
Highlights of the tokoin spotlight sales
Hardcap met: most projects have struggled to reach their spftcap in recent times due to the high level of suspicious and pale projects that have littered the space lately. But seeing level of dedication the tokoin team have invested in making the project a dream come through, a number of investors from around the world showed support by helping to ensure that the project's hardcap was met successfully and in quick time.
Quick end of sales: the intriguing thing about the tokoin IEO isn't just the fact that the project was able to successfully sell out, it was due to the fact that it sold out in a very short period of time. This is just another proof of the fact that the project is well sort after from people around the world and this support has continued to grow even after the end of sales.
Insane ROI: the hardcap and quick sales were not the only things to talk about from the tokoin sales, another very overwhelming thing worthy of note is how high the token price went shortly after it got listed on Kucoin, it went up almost 10× from its IEO price upon listing. Currently the coin is trading at a price 3× over the IEO price, and with many more developments still in the pipe, one can only expect better returns for the future.
Overwhelming community support: it is not easy to get as much support as tokoin is getting at the moment, even after the completion of her IEO the community has continued to stand firm behind the project by constantly engaging and backing tokoin on her various social media outlets. This goes a long way to tell how well backed the project have been from inception till date.
Fun fact: the kucoin IEO was divided into five different rounds, and the total amount of money needed to be raised from all five rounds sums up to 1,000,000$ and this was raised successfully within few seconds. Because holding the kucoin native token was one of the criteria required to participate in the IEO, this made the KCS (kucoin shares) token price to shoot up tremendously thereby placing it among the top 50 coin on the coin market cap (CMC). This means that not only was the tokoin IEO beneficial to tokoin alone, it was also beneficial to kucoin as an exchange. What a feat!
To summarize, I believe strongly in the tokoin project and all it has got to offer, and after due research about the project and the entire ecosystem I have had more reason to be very confident and hopeful in the project. Seeing as everything written here are borne out of personal opinion and are in no way meant to be investment advice, I advise that whoever wishes to join the tokoin train should endeavour to do some due research before proceeding to do so.
USEFUL LINKS
Website: https://www.tokoin.io/
Twitter: https://twitter.com/TokoinOfficial
Facebook: https://www.facebook.com/TokoinOfficial
Author's Telegram ID: @Idakpe