List of New Cryptocurrency Projects and Tokens 2023.
Check out the list of new cryptocurrency projects and crypto market tokens – IDO, IEO and ICOs.
What is an initial DEX or IDO offer?
It is important to note that the original concept of the initial DEX offerings has changed tremendously over the years and, in its most popular form today, has little to do with what was intended when the first IDO took place.
At its core, an initial DEX offering is a successor to ICOs and IEOs as it seeks to raise money and start a project. However, unlike ICOs and IEOs where tokens are sold prior to listing, with IDOs they are listed immediately on a decentralized exchange (DEX) – hence the name.
The first IDO to happen took place in June 2019 – Raven Protocol. The team behind the protocol chose to use Binance's decentralized exchange – Binance DEX. They put the token there at a specific price, and merchants could buy it until the hard limit was reached. This is how the first IDOs occurred on most platforms.
This particular form of fundraising had, in theory, some powerful benefits, including:
- fast trading
- Immediate liquidity
- Open and fair fundraising
However, investors were not satisfied. The reason was that these token sales would basically be bought in a matter of seconds, leaving little chance for average investors to take a share and participate. The notion that they were being captured by bots and insiders was born, and the industry had to adapt to meet the growing demand.
This led to the birth of the IDO launch pads – one of the hottest topics of late 2020 and 2021.
