Initial DEX Offering (IDO): A Beginner’s Guide
Cryptocurrency has taken the world by storm over the past decade, with Bitcoin leading the way. However, it’s not just Bitcoin that has caught people’s attention. Many other digital currencies have emerged, including Ethereum, Binance Coin, and the recently gained popularity of Arbitrum.
In the world of crypto, Initial Coin Offerings (ICOs) was once a popular way for startups to raise funds. But with increasing regulations, ICOs have given way to Initial Exchange Offerings (IEOs) and Initial DEX Offerings (IDOs).
In this article, we’ll focus on IDOs and what they are all about.
What is an Initial DEX Offering (IDO)?
An IDO is a fundraising mechanism used by decentralised exchanges (DEXs) to help blockchain projects raise capital. It involves the launch of a new digital currency through a DEX. Unlike ICOs, IDOs are completely decentralised and operate on a blockchain network.
To participate in an IDO, investors usually need to hold a specific amount of a particular cryptocurrency. For example, a project may require investors to hold a certain amount of Binance tokens (BNB) to participate in their IDO. This helps to ensure that the investors are committed to the project.
One of the most significant advantages of IDOs is that they are completely decentralised, meaning that they operate independently of any central authority. This provides investors with more transparency and control over their investments.
Another advantage of IDOs is that they are much more secure than ICOs. Because IDOs are conducted on a blockchain network, they are more resistant to hacks and fraud.
IDOs are beneficial for blockchain projects because they enable start-ups to raise funds directly from their community of supporters. This helps to create a loyal and engaged user base, which is crucial for the success of any project.
Paywong will be introducing the $PWG token through a fair launch on an IDO platform in the coming weeks. Merchants, crypto enthusiasts and investors will be able to participate in this token sale.
For more details and updates, check out the official website as well as Twitter, LinkedIn, Facebook, Instagram, and Telegram.
Paywong Airdrop Campaign
Paywong has recently launched an airdrop campaign where users can earn 1,500 $PWG (~$15) tokens just by completing a few simple tasks.
The airdrop will take place from 23rd March 2023 to 23rd April 2023 with the token distribution happening on 23rd May 2023.
The campaign is open to everyone to participate. More info here.
About The Company
Paywong is a product of Walawong Solutions Pte Ltd — a Web3 startup based in Singapore. We are on a mission to simplify crypto payments for businesses by leveraging the power of blockchain technology.
Contact:
Moe Tengku
CEO/Co-Founder
moe@paywong.com
Sam Zulkifli
COO/Co-Founder
sam@paywong.com
