The crypto exchange is planning to earn 5.95 million USD by selling 17 billion XRD tokens
Bittrex – a global blockchain trading platform based in the USA – reported that it has plans to carry out the first ever Initial Exchange Offering (IEO) of XRD token. IEO is starting at 10:00 a.m. (Korea Standard Time) on Friday, March 15, 2019.
IEO is based on Bittrex’s project RAID and its token XRD. RAID is a global gaming data project on blockchain aims to build a decentralized gaming data system. IEO will be used to develop new methods that will allow to reward gamers for sharing their data. Presumably, that will stimulate improvements, business development and marketing in gaming companies.
The total amount of XRD tokens issued on the Bittrex platform is 17 billion. The crypto exchange is now planning to sell 1 XRD at the value of 10 Satoshi, and earn 5.95 million USD by selling 17 billion tokens. Customers will be allowed to purchase tokens equivalent to the sum from 10 USD (a lower limit) - to 20,000 USD (an upper limit).
Bill Shihara - Bittrex CEO - commented on the event and the latest innovations developed:
“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 and not just for RAID and our team.”
Details about the event can be found here:https://international.bittrex.com/Market/Index?MarketName=BTC-XRD
Author: Helen Darkhouse