poloniex launchbase
Poloniex Reveals Forthcoming Tron- Powered Initial Exchange Offering Platform
April 6, 2020
poloniex launchbase
Poloniex Reveals Forthcoming Tron- Powered Initial Exchange Offering Platform
April 6, 2020

Poloniex revealed its forthcoming Tron (TRX)-powered initial exchange offering (IEO) platform on April 5.

Projects seeking to conduct their offerings on Poloniex’s LaunchBase platform face the stipulation of issuing tokens in exchange for TRX, and will be considered on a “first-come, first-serve” basis.

Poloniex asserts that LaunchBase is intended “to help quality blockchain projects grow and further develop their ecosystem,” stating that it will “offer professional advice and guidance” to assist partner projects.

In addition to agreeing to raise funds in TRX, partner projects will be subject to “eligibility and screening requirements.” Entities located in “certain jurisdictions” may not be eligible due to regulatory considerations.

ALSO READ :  South Korea Government Pivots Away from Cryptocurrency

Poloniex states that more details regarding LaunchBase will be disclosed in the coming days. The first project slated to conduct an IEO with Poloniex is a Tron-based stablecoin lending platform called Just (JST).

Just is a decentralized lending platform where users can stake TRX to generate the USDJ stablecoin, which can be used to pay for interest, maintenance, and other activities. 

Tron founder, Justin Sun, described Just as building a decentralized finance (DeFi) lending and governance protocol:

Sun was among a consortium of Asian investors who purchased Poloniex in October 2019. Poloniex is the 15th-largest crypto exchange by volume.

IEO’s have emerged as an alternative to initial coin offerings (ICOs) where the issuing exchange handles considerations including regulation, marketing, and market making in exchange for a significant share of a token’s distribution.

ALSO READ :  Tron Becomes The Fourth Blockchain To Receive A Custom Twitter Emoji Hashtag

Source: Cointelegraph.com


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!