Initial exchange offerings, or IEOs, have become increasingly popular in recent months. OKEx, the world’s biggest spot and derivatives cryptocurrency exchange, is launching its 11th token sale, known as DEAPCOIN.
The Success of IEOs
The evolution from ICOs to IEOs is a very logical one. Instead of individual projects creating their own token sale, they now collaborate with trusted exchanges to raise funds. For investors, this offers a lot of potential advantages.
Less serious projects will be rejected by the exchanges in question. As such, only worthwhile projects, or tokens with a bright future will be offered to the general public. The exchanges facilitating an IEO will also lend more credibility to any project exploring this particular option.
Because of this approach, the overall number of token sales has decreased significantly. During the 2017 ICO craze, dozens of new projects would try to raise funds every day. Unfortunately, most of those projects have either failed to deliver, or are still active but cannot gain any mainstream traction.
With IEOs, that situation appears to be very different. It is a more credible and viable model. For OKEx, they are very selective in terms of which token sales to facilitate.
What is DEAPCOIN About?
The launch of DEAPCOIN is only the 11th IEO taking place through the trusted OKEx exchange. Digital Entertainment Asset Pte. Ltd, the company issuing the token, focuses on the creative entertainment ecosystem, with a special spotlight on games and manga.
Creating a digital entertainment economy through the use of blockchain technology is an interesting business model. Several projects will launch on this blockchain, including a Bank, Gaming, Digital Art Auction, Creator, and PlayMiner concept.
Users will be able to earn DEP tokens as a reward for spending time on the platform and enjoy the free entertainment provided.
OKEx CSO Alysa Xu adds:
“We are delighted to reach a partnership with DEA and become the only platform to sell DEP token. DEA shares the same vision with us that blockchain technology will be massively adopted as an essential tool for many industries. In the future, OKEx will also work harder to expanding our international influence in a variety of sectors, especially in promoting the integration of blockchain technology with existing industries to generate larger synergies, and enable blockchain technology to push forward the development of different industries.”
DEP Has a total supply of 30 billion DEP tokens and can be purchased on OKEx on April 8. Participating in this token sale is possible through the OKB token, which has noted a strong appreciation in valuation over the past few weeks. Two separate subscription sessions will take place on April 8.