Homework Question
- 1.Explain in your own words what an IEO is.
- 2.Do you consider IEOs an advantageous way to make an investment? Explain.
- 3.List advantages and disadvantages of participating in an IEO.
- 4.Explain how to participate in an IEO, for the process explore various exchanges, choose one of them and explain the process. (Please use from screenshots.) (No need to participate, just register, present proof of verified account and explain the whole process, do not use Binance)
- 5.As an example of a project that had a successful IEO, explain that project. Be on topic. (Use from screenshots.)
- 6.Conclusion.
Introduction
Season Greetings Steemians , I will be responding to Home task given by Professor @nane15 , Thank you for your awesome teaching on "Initial Exchange Offering and Binance Launchpad" . below is my homework.
- 1.Explain in your own words what an IEO is.
IEO is also called initial exchanges offering. IEO is a cryptocurrency that helps team working on a new project to be able to raise fund to support the project, This is one of the possible way in which the new project gain maximum support from investors.
IEO occurs on trading platform where the new project is listed. The exchanges give their own support to the creator and also give opportunity to investor to participate too. For instance, on binance exchange, we have what is called binance launchpad which is built for different projects undergoing IEO.
IEOs is the same with ICOs just that IEOs is centralized and more reliable in terms of security but IEOs renders financial assistant to support new projects so that they can be listed on on exchanges to enable traders to start trading on the developed asset.
IEOs is one of the ways by which developer attractive investors because the tokens or shares is being sold at very cheap rate and the idea behind it is to get more investors to invest in the program.
Most investors invest in the token when assets is cheap and sell it off the price so as to make profit. Therefore people participate in IEO with the aim of making profit when the price of the token rise in the future .
- 2.Do you consider IEOs an advantageous way to make an investment? Explain.
Yes! IEOs is an advantageous way to make an investment. Below are my reason for saying yes.. IEOs is just where projector developer raise funds for new token they want to launch on exchange platform .
IEOs provide investment opportunities for their investors. Individuals who invest in the projects makes profit in the future when the token is listed on exchange platform . The value of the assets during the pre-sale is cheaper for investors
Exchange platform where token would be listen would have investigated the asset to some extent before they can list on support the IEO which is also a guarantee to the investors that wants to invest on the token.
- 3.List advantages and disadvantages of participating in an IEO.
Below is the advantages and disadvantages of participating in IEOs are listed below:
Advantages of participating in an IEO
Buying an asset in pre-sale increases the possibility more profits when the token is listed on exchange platform.
They are not scams and are safe as long as they are listed or available for pre-sale in an exchange.
Don't need any special qualification before you can invest because It issimple and easy to participate.
IEO event boost the project and the team as well as the exchange platform.
Disadvantages of participating in an IEO
Their no guarantee that the investor will make Profits after the assets is being listed on the exchange platform .
Due to the volatility crypto market , the possibility of encountering loss even if the investor purchased the asset during the pre-sale .
- 4.Explain how to participate in an IEO, for the process explore various exchanges, choose one of them and explain the process. (Use from screenshots.) (No need to participate, just register, present proof of verified account and explain the whole process, do not use Binance)
To Participating in IEO their is need for proper research to check for the requirements before you participate. and I will be using coincodex for my research.
Firstly to search list of the IEO project I will use coincodex. Click on the link to visit the coincodex website.
Then you will see different IEO just as in the image below and from the image below we can see the list of the IEO is listed according to date. We also have the name of the IEO.
Click on launchpads to participate in IEO, but first we need to know the exchange it's listed on .
In the image below, we can see different exchanges. If we click on each of them, the list of IEOs on the exchange will pop up . The image below shows the list of IEO on Kucoin
The Image below shows the list of IEO on Huobi exchange.
The Image below shows the list of IEO on the gate.io
The image below is the list of IEO on FXT exchange.
The image bleow is the list of IEO on Kucoin, I will click on IEO on Kucoin to see the details then I will click on the first on the list, which is CHMB.
After clicking on it, the details of the IEO will pop up and from the image below we can see the IEO price and other details . Then i will click on "visit launchpad".
After you click on launchpad, you will be directed to login on the Kucoin.So to participate in IEO on Kucoin.
Click on spotlight where the new token are listed.So click Click on more to see the spotlight feature below is the image.
After clicking on "spotlight", the list of token that is listed on IEO will be displayed and also let's click on CHMB, below is the image.
After that I was directed to a page where i can participate. Below is the image.
Click on the on countries not supported and then click on small box beside " I have read and agree to user agreement"Image is below.
Then click on purchase agreement, below below is the image. After that you can now participate in IEO .
- 5.As an example of a project that had a successful IEO, explain that project. Be on topic. (Use from screenshots.)
We so many successful IEOs that have made tremendious move the year in terms of value in crypto space. For this questionI will using ocean protocol for this question.
Ocean protocol is used for manage AI data. The platform gives the users the opportunity to exchange data . When the users exchange data they earn in the process.
The Pre sale of Ocean Protocol tokens started in April 30, 2019 and it ended in May 3,which was the end of the IEO. The total of 4% of 56.4 million oceans was used in the processing of IEO. The value of the Ocean Protocol tokens during IEO was $0.12.
But after IEO, the value dropped by 75%, which made the token to depreciate in value but currently the value of Ocean token have risen to $0.9200 and From the image below, we can see that the all-time high was in April 2021 when the price was $1.83.
Conclusion
In this lecture I was able to understand what confluence trading. is all about the important and how to use it
We make use of confluence trading to avoid false breakout and We have indicators that can be used to filter false breakout so as to increase the chances of multiple confirmations and also increase probability of take profit level .
Am Thankful professor Professor @nane15 for this wonderful lecture.