Hello friends! Today, I’m writing about the Collective IEO. The Collective is a community management company which is currently developing the products; a hybrid exchange (CDEX Decentralized Exchange & TraderOne Centralized Exchange) & the CollectiveGO Game which is an augmented reality game. The Collective has chosen a method to collect funds for developing their products. It is the Collective IEO. The IEO is conducted at the Chaincreator Exchange.
What is an IEO?
So, what is an IEO? The term ‘IEO’ refers to the Initial Exchange Offering. This is quite different from the ICO which refers to the Initial Coin Offering. The typical method of collecting funds for blockchain projects is the Initial Coin Offering (ICO). An IEO is run through an exchange. In this case, the project developers send the tokens to the exchange which will then sell the tokens to the contributors. Each contributor has to create an account in the exchange to participate in the IEO. Then the contributor sends ETH to the exchange to buy tokens. In an ICO, the contributor sends ETH to a Smart Contract.
Advantages afforded by conducting an IEO
The Collective has taken the best decision of conducting an IEO instead of ICO. It will receive the following advantages from the IEO.
The funding process is conducted at the Chaincreator Exchange
The team does not need to create their own website to collect funds. The Chaincreator exchange will do the job for the team.
The smart contract is managed by the Chaincreator Exchange
The team does not need to create their own smart contract as it is managed by the Chaincreator Exchange. The team just need to send their tokens to the exchange.
The KYC process is done by the Chaincreator Exchange
If the collective team needs to know about the KYC of customers, the Chaincreator Exchange will do that for the Collective team.
Token listing after the IEO
The Chaincreator Exchange where the IEO conducted will list the CDEX Token in the future. This a big advantage for the Collective team.
Ensuring the trust
One of the main advantages of conducting an IEO is the trust. As the IEO is conducted on the Chaincreator Exchange, its users will trust the project. The Chaincreator Exchange maintains its good reputation among the users. So, the participants can trust the Collective IEO, meaning that there are many investors to the project.
How to participate in the Collective IEO
Now, you exactly know that the Collective is conducting an IEO. Then you need to read the Whitepaper & visit the Website to study the project. If you decide to participate in the Collective IEO, you need to do the following steps.
- Go the Chaincreator Exchange by clicking the link here.
- Sign up for an account on the exchange by passing the Know Your Customer (KYC) procedures (if any).
- Check what cryptocurrencies will be accepted during the IEO & fund your account accordingly. (USDC, BTC & ETH will be accepted here.)
- After the start of the IEO, purchase your tokens! (The start day is the 6th of May 2019. Pre-registration is available from the 1st of May 2019. The Chaincreator Exchange will close the Collective IEO no later than July 15, 2019.)
About the CDEX token
This token is a utility token that can be used for operations on the CDEX & TraderOne Exchanges. It has the following features.
- Token Name: CDEX Token
- Token Ticker: CDEX
- Total Supply: 8,000,000,000
- Decimal Places: 8
- Token Type: ERC-20 compatible utility token
The IEO price of a CDEX token is 0.01 USDC ($0.01). The early contributors will receive a 20% bonus for a limited period of time. If you hope to purchase more tokens, it is good to participate as early as possible as you can get the 20% discount.
About the MVP
The Collective has the following products as its MVP (Minimum Viable Product).
- The CDEX Exchange: A decentralized exchange for ERC-20 tokens. If you own CDEX tokens, you will receive a 50% discount on transaction fees in this exchange.
- The TraderOne Exchange: A centralized exchange for trading all different types of digital assets. If you own CDEX tokens, you will get loyalty rewards on trades performed on this exchange.
- The CollectiveGO Game: An augmented reality game powered by the native token (CDEX).
Please refer to the following resources to find out more about the Collective project & its IEO.