- Poloniex has just revealed its upcoming initial exchange offering powered by TRX.
- Projects looking to conduct offerings on Poloniex’s platform are going to be facing the backlash of issuing tokens in exchange for the TRX coin.
One of the more popular cryptocurrency platforms in the industry, Poloniex has just revealed its upcoming initial exchange offering powered by TRX.
For those projects looking to conduct their offerings on Poloniex’s LaunchBase platform, are going to be facing the backlash of issuing tokens in exchange for the TRX coin. Furthermore, it will be considered a first-come, first-serve basis.
The platform has said that LaunchBase was designed in order to help quality blockchain projects further develop and grow in the ecosystem. They further said that it will offer professional advice and guidance to help in partner projects.
On top of this, these partner projects will be subject to the eligibility and screening requirements with entities located in specific jurisdictions may not be eligible due to considerations of regulation.
The platform is stated that more details in regards to this new project will be disclosed over the next week.
Seen as the rival to initial coin offerings, initial exchange offerings are when the issuing platform makes considerations such as marketing, regulation and markets making in a platform for a significant share of the distribution of a specific token.