Mask triggered a new round of discussion in the encryption community. The key word this time is "ITO".
As early as February 11th, Mask Network officially announced that it would issue its own token Mask, which will be sold in the latest issue of ITO ( Initial Twitter Offering).
In many community-made Mask "hit new" strategies, it is generally recommended to prepare ETH of $500~$800 for the Gas expenses required for snapping up. Mask's initial ITO plan was postponed due to traffic overload of QuikNode, an RPC provider in Ethereum, and the following second and third rounds of ITO poured into a large number of community participants at home and abroad. (in ITO, the cost of Ethereum Gas is increased)
There are many reasons for the large-scale participation of community investors in Mask, among which the innovative ITO method is the most important one. Optimistic users think: "ITO is the Coinlist of encryption community".
Initial Twitter Offering (ITO)
This is a new distribution method with strong "community style".
It means "initial twitter offering" (ITO). This mask release helps more people understand this innovative concept.
According to the official introduction, ITO is a new way of issuing and subscribing token.Ito allows any twitter user to subscribe without leaving the platform itself.
Mask has two sales methods: ITO and LBP.Ito is the first twitter release created by mask network. At the same time, LBP is an auction function on the Defa project bannancer, which can improve more liquidity.
In terms of operation, participating in ITO is very user-friendly.Before users participate, download and install the mask plug-in. Then, new users can create their identities and connect to their twitter accounts according to the prompts.When a user creates an identity, mask network will automatically create a new eth wallet address for the user. Similarly, it also supports importing the user's original wallet.
To some extent, this way can improve the interactive experience of simple wallet, defi and NFT.
XTI3323(after the mask network plug-in is installed, find the relevant tweets to start ITO)
This is a new way of distribution after 1CO, IEO and Ido
Looking back on 2017, 1CO (Initial Coin Offering) broke through many restrictions of traditional financing methods, linking funds with the token of initial public offering of the project, which led to the explosion of blockchain projects and triggered a bull market in the digital money market.However, the low threshold, lack of supervision and other shortcomings, also became the reason for the end of the bull market.
In the following years, the way of "distribution" changed and developed, which seemed to be "patching" 1CO.In 2019, the emergence of IEO (InitialExchangeOfferings) made the head centered digital currency exchange a third-party springboard for new token issuance, bypassing the private placement and public offering steps, and directly issuing on the exchange for the first time, which brought some heat to the relatively sluggish market at that time.
By 2020, the traditional 1CO and IEO activities are progressing slowly. After the market focuses on the defo, IDO (Initial DEX Offering) has become a new encryption native distribution method, and gradually prevails with the expansion of defi users.However, in these ways, it is difficult to avoid complex pre process.
From the development direction, ITO is more like a function based on Ido.According to the idea of mask network, mask starts from the perspective of "abiding by users' usage habits".For many users who are accustomed to and use defi, most of their information and user behavior are based on twitter, and shorter user processes have become the core differentiator of ITO.
Community talk about Web 3.0 again
If sushiswap initially got traffic from uniswap, mask was more likely to take over traffic "directly" from twitter.
According to the official data, since its release on April 1, 2019, the number of plug-in users of mask network in Chrome has exceeded 10000. It can be inferred that the user base of ITO this time is not low.
This is the third Ito of mask network.
Ito has been carried out twice before mask network, the first is LRC of loopring.Through the new way of ITO, the token was sold out in less than five minutes.
The second ITO is the mtsla, a synthetic asset of mirror protocal.
This is an innovative product, which introduces Tesla stock, which is highly topical at present.Through the mapping of mirror protocal, the real-world stock is converted into the digital world asset asset, which is called "asset" ($mtesla).
Users can use the original digital asset as the exchange medium to reduce the complex process of purchasing American stock in reality.
In the overseas encryption community, some users refer to ITO as "Web 3.0 links to Web 2.0".
In fact, with crypto and blockchain open protocols, many changes are actually taking place.
"Don't equate Web 3.0 with Boca series. You don't understand what Web 3.0 is. Web 3.0 is characterized by the return of data rights to individuals," said we media discovery cat from the defi community.
Some industry analysts believe that Web3.0 has been called the embryonic form of the next generation Internet for a long time. Generally speaking, the vision of Web3.0 is to break the monopoly of the platform and establish a new global digital economic model.In this mode, it will eliminate the middleman platform that creates value by promoting the transaction interaction between different user groups or users, and directly match the producers and consumers together to give them more preferential treatment.And the user's data becomes the moat between platforms.
It is also one of the vision of Web3.0 to return the data value created by users in the interaction process by applying blockchain technology and economic settings.The concept of "ownership economy" also gives the market new thinking on the evaluation of blockchain projects.
From the perspective of "ownership economy", rewards are just icing on the cake. More importantly, as a means of binding and motivating the community, the blockchain must have clear business before it has positive feedback.
Otherwise, it will be idle capital.The community began to rethink Web3.0, believing that it should not be limited to native blockchain products, but to the broader Web2.0 world.
If it is too difficult to get users to leave the traditional Web2.0 platform and switch to Web3.0, then ITO may bring more new ideas.
Suji Yan, founder of Mask Network, publicly stated in the community that "ITO will be an important long-term distribution method for us in the future".
In any case, can the Web3.0 series continue to shine in the next market? It may need to be proved by detailed indicators, such as the number of users, the growth rate of users, the amount of pledged funds and the growth rate, etc. At present, the innovation of DeFi products is still emerging. After the algorithm stabilizes the currency, it may be time for Web 3.0 series projects to perform.
DeFi main broker agreement Oxygen completed financing of 40 million US dollars, and Alameda Research led the investment
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