IEO Platforms / Launchpads outcomes for the year 2019

IEO Platforms / Launchpads outcomes for the year 2019

IEO Platforms

IEOs now are still one of the most trending potential ways of fundraising for crypto and tech startups. However, raised funds are falling, although some exchages are still reporting disproportionately high volumes. Exchanges themselves already explain to the projects that shouldn’t expect millions cap filled, especially if IEO is not on a superstar exchange like Binance. Despite their poor performance on the open market, IEOs have proven to be an all-to-easy and low-risk way for projects to raise capital without offering up a large portion of the total token supply, with the typical IEO bringing in around $3-8 million.

Binance, one of the largest crypto exchanges, has popularized the IEO trend with a platform called Binance Launchpad. Although Launchpad was created in 2017, it has hit a high note this year by running successful sales for projects like the Celer Network, Fetch.ai, and BitTorrent. These sales have each raised between $4 million and $7 million―somewhat less than the typical ICO in 2018, which earned $11.5 million on average. Nevertheless, Binance Launchpad has become a phenomenon: its limited token supplies, long waitlists, and lightning-fast sales have attracted plenty of publicity. Even Launchpad's recurring technical issues, which have pushed some users out of their place in line, haven't damaged its popularity. Relatively few users manage to buy tokens in any given Launchpad sale, but everyone talks about the sale.

ProBit Exchange has managed to capture the #6 slot among Korean exchange web traffic rankings and #19 worldwide. The exchange has come a long way from its inception on November 30, 2018, currently having conducted over 160 rounds of IEO and offering 195 coins with 348 markets. ProBit has excelled in IEO with multiple sellout campaigns under their belt since its IEO platform took the world by storm in February. Their first sellout for SPIN helped the team raise $500,000 in less than a day and immediately followed up with another $150,000 for CLINK in 2 days. 

LAToken, one of those exchanges, has caught attention for its specific brand of shady activity. The market operator looks undercapitalized while reporting disproportionately high volumes. LAToken still reports trading activity above $500 million per day, a significant feat for this type of market, and often as high as $900 million. The flagship token, LA, has taken the usual trajectory, rising to $1.88 during the crypto boom in late 2017, and then crashing to its current level of $0.08. But there is no telling what other damage this exchange can do. It has been known for months the market operator freezes and suspends accounts with almost no explanation. Users have also reported deposits disappearing, further adding to the image of LAToken as a danger zone in the world of crypto.

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