A new token offering is utilizing the Bittrex International exchange to launch its sale. Customers of the exchange will get a crack at the action.
RAID’s XRD sale
Announced in a recent Bittrex press release, RAID will launch its XRD token sale on the Bittrex International exchange. Bittrex reported this opportunity as a first for customers of Bittrex International in their ability to buy tokens right from the issuer, via the exchange, at a locked price.
The press release mentioned the event will fly under the term “Initial Exchange Offering”, or “IEO” for short, instead of the popular ICO title. RAID, the token issuer, works in the global gaming data space, incorporating blockchain to further the gaming world. The release noted that the IEO will begin on March 15th at 10 a.m. Korea Standard Time (KST).
History in the making! We are excited to announce that Bittrex International will host its first Initial Exchange Offering (IEO) on March 15, 2019 at 10am KST. Learn more: https://t.co/TZFxyqs8Dm pic.twitter.com/KnZfpjjTbo
— Bittrex International (@BittrexIntl) March 11, 2019
Verified exchange customers will have the ability to buy XRD with bitcoin, right on the Bittrex International exchange. “The offering marks the first IEO to be hosted on the Bittrex International Platform,” the release stated.
Bittrex International’s Bill Shihara looks at the event with positivity: “We are committed to increasing adoption and moving the blockchain revolution forward. The ability for projects like RAID to innovate, advance, and promote the gaming industry on our platform is a game changer for all involved.”
Shihara addes: “Now our international users have direct access to blockchain projects with the peace of mind that comes from Bittrex International regulated in Malta. We are excited for this IEO and look forward to helping similarly innovative teams connect with users to build their platforms for the future.”
Additionally, Taesung Kim, cofounder of RAID, expressed his positive sentiment regarding the upcoming IEO: “To have our IEO be the first of its kind on Bittrex International is a tremendous honor, considering their reputation and the highly selective process we went through to get here today,” Kim said in the release.
According to ICODrops’ data, RAID aims to raise $7,800,000 in funds. The project already has raised roughly 15% of that amount, seeing $1,200,000 in funds as of the time of writing.
Binance Launchpad also has participated in the token sale game this year, seeing high amounts of success. Earlier in 2019, Crypto Insider reported on BitTorrent’s BTT token sale launch on the Binance Launchpad, which sold out in less than 20 minutes.
Binance coin (BNB) ha alsos done very well lately. CryptoBobby YouTube host Rob Paone expressed his sentiment that the recent Binance Launchpad activity might be a cause for BNB’s price spike, as well as a possible new ICO season.