HDAO’s IDO, A Platform to Accomplish your Projects and Achieve Your Dreams
Many users are familiar with the terms IEO (Initial Exchange Product) and ICO (Initial Coin Product). These two are the most popular fundraising methods in the crypto space. However, there is a new, lesser-known but more effective method called IDO (Initial Dex Product). So what is the difference between these fundraising methods?
Well, as far as ICO is concerned, the issuer is responsible for all responsibilities, while in IEO, it is done by a centralized exchange custodian. When we compare IDO with the other two methods, we can see that it is basically a combination of ICO and IEO. The only difference is that IDO uses a decentralized exchange (DEX) instead of a centralized exchange (CEX).
The initial exchange product (IEO) and IDO are almost the same, and can even be regarded as a new IEO. In both methods, organizations can directly exchange tokens to individual investors or traders. But in IDO, you don’t need to pay transaction fees like in IEO, because it is self-organized and decentralized. In addition, IDO solves some of the problems related to IEOs, for example, in most cases, issuers are not allowed to list tokens on competitive exchanges. The issuer also needs to pay a substantial token stack or pay a huge fee to list the token on the exchange. and. The issuer has no control over the fundraising parameters. As you can see, even though IDO is similar to IEO, it is better and safer than IEO. Although many projects are still using IEO and ICO methods, there are still some projects that are starting to use IDO methods. The following are some examples of existing IDO protocols.
The first IDO is the Raven protocol. The Raven protocol is actually a distributed deep learning training protocol used to provide cost-effective and faster deep neural network training. It went public on June 17, 2019 and was held for 24 hours. A total of 3% of the token supply is allocated, and each Raven token is worth up to 0.00005 BNB.
Another example is the UMA protocol, which is an Ethereum-based platform for issuing and trading synthetic assets. Recently, MahaDAO, a decentralized autonomous organization, announced that they will launch IDO for MAHA, which is its governance token. According to the issuer, the token manages ARTH, the world’s first non-depreciable cryptocurrency. The HDAO platform is also composed of IDO: HDAO.io. HDAO.io used to be a platform for funding ICO projects, but it has now been upgraded to an IDO platform.
HDAO IDO crowdfunding platform
Why should HDAO be converted to IDO platform? In addition to getting better benefits, the reason for the HDAO platform to upgrade hdao.io is also to help LEEKCOIN’s originally envisioned functions to be reflected in the new HDAO platform. Since the HDAO team values integrity, HDAO respects the interests of users as our top priority. This is why HDAO decided to map LEEKCOIN from all LEEKCOIN holders so that valued users can continue to participate and benefit from the HDAO ecosystem. . The HDAO team is aware of the importance of transparency and fairness to users, and continues to be committed to providing a high-quality DeFi ecosystem so that our users can benefit from the various services we provide. When this update is released, the team will continue to build its product line and improve its current services. Currently, we are developing a new website and decentralized application (DApp) that will provide liquid mining, mortgage lending, crowdfunding, private placement and a transparent DAO governance system, which will enable our supporters Be able to participate in the development and growth of the HDAO ecosystem.
HDAO hopes that supporters will continue to believe in our platform and cooperate with HDAO to establish the vision they originally wanted to achieve, so as to provide the public with an open, fair, and interconnected comprehensive DeFi ecosystem.