It’s almost Project Hive $HGT IDO time!
The IDO, which will begin in mid-September, will use a number of confirmed, well-known launchpads.
INTRODUCTION Because some Defi platforms have a steep learning curve, a lack of understanding of how cryptocurrency works may act as a barrier to entry for an average crypto trader. With the right information, a confident investor can overcome any obstacle. A token offering is typically an exciting opportunity for crypto investors. Having the ability to purchase a token at launch can be extremely profitable. In retrospect, the initial coin offering (ICO) frenzy that swept Ethereum (ETH) in 2017 was not entirely positive. There were numerous scams and rug pulls, and investors frequently lost a significant amount of money. Since then, many mechanisms to offer tokens have been developed by the cryptocurrency industry, including the Security Token Offering (STO), Initial DEX Offering (IDO), Initial Exchange Offering (IEO), and others. IDOs are used more and more.
WHAT DO IDOs DO? Initial Dex Offering is referred to as IDO. It is a method of using a DEX to fund a cryptocurrency project (Decentralized Exchange). For instance, a business can raise money in a number of ways to expand its operations or develop new products. The traditional path is to use financial loans or investments from banks and VCs. However, as a result of their popularity, more companies now use cryptocurrencies like Bitcoin and Ethereum to raise cash through token sales. In this case, companies create cryptocurrency tokens and offer them for sale to the public in exchange for Bitcoin, Ethereum, and other significant cryptocurrencies as well as fiat money. Token-based fundraising is the term used to describe this method of fund raising. Liquidity pools (LP), which produce liquidity after the sale, are essential in IDOs. During a token generation event, an IDO typically enables users to lock money in exchange for new tokens. Some of the donated funds are first combined with the new token in an LP before being subsequently returned to the project. When DEXs first appeared on the scene in 2019, a lot of cryptocurrency projects were drawn to the decentralized nature of these exchanges. IDOs offer a better alternative to centralized exchanges for the introduction of tokens and for fundraising. The first effort to ever introduce an IDO was the Raven protocol. Then IDO launchpads started to arise, offering services tailored specifically for new IDO projects. This made IDOs more desirable as a source of funding in the cryptocurrency sector.
WHAT IS AN IDO’S PROCESS? A decentralized exchange is used by an IDO to enable the token sale (DEX). Through the platform, users make financial commitments, cryptocurrency projects submit their tokens to the DEX, and the DEX completes the final distribution and transfer. These processes are automated by using smart contracts on the blockchain. The phases and guidelines of an IDO differ based on the DEX controlling it, but there are a few common practices: 1. Following vetting, a project is given the go-ahead to run an IDO on a DEX. Customers lock their money in exchange for a certain price and a set amount of tokens that are provided by the company. Investors will get the tokens during a subsequent Token Generation Event (TGE). 2. Typically, there is a whitelist of investors. You might only need to provide your wallet address or complete marketing tasks to join the list. 3. A portion of the funds raised are used to create a liquidity pool using the project’s token. The leftover money is given to the group. Investors can exchange the token after the TGE. Frequently, the given liquidity is locked for a predetermined period of time. 4. The LP is made available for trading, and the user receives the tokens at the TGE.
ABOUT PROJECT HIVE A PvP turn-based, play-to-earn game is available on Project Hive. Project Hive is a fascinating game that has a clans system, excellent 3D graphics, a play-to-earn PVP-focused turn-based battler, and an interesting PVE narrative. The most popular way to represent in-game playable objects is through NFTs, or transferable and tradeable assets. A player retains full ownership of all items they acquire while playing. The ability to create, enhance, and exchange NFTs, which can be utilized to earn additional money and participate in the game's actual development, is another advantage of this technique.
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