Learn more about so-called Initial DEX Offerings that are being independently done on decentralized platforms like the community-led Binance Chain and Binance DEX.
Binance DEX, the community-led decentralized exchange running on Binance Chain, has published a new article that talks about so-called Initial DEX Offerings, or IDOs. In light of token offerings independently being conducted on Binance DEX, the exchange wants to clarify that it has no participation whatsoever in IDOs that happen on the platform.
On this blog, we provide a snippet of Binance DEX’s FAQs on IDOs. Read the English and Chinese versions of the full article on the Binance Chain Community Forums. Read the Vietnamese, Turkish, and Russian translations for the full article on the Binance blog.
1. What is an IDO?
According to some community members, IDO is an acronym for Initial DEX Offering. It may indicate anything or any form of token offering, either related to DEX or not at all.
2. Who can do an IDO?
Anyone can do an IDO if they are willing to plan a form of token offering. It is 100% self-organized event by the issuer.
3. Who approves an IDO?
IDOs can be performed and approved by anyone. In Binance DEX’s case, Binance Chain validators only vote for the listing of a project, and NOT any IDO proposal or execution.
4. Has Binance or Binance Chain been involved with any IDOs?
No, none, zero. Not in the past, not in the future, not at all.
- How is an IDO executed?
- This project will perform an IDO, is its token better than others?
- How is the IDO price determined?
- Will Tokens in an IDO be traded at a higher price than the initial IDO price?
- Will the IDO project go to IEO or get listed on Binance or any other exchange?
- Does IDO require KYC, or am I fully compliant to take part in an IDO token offering?
- What should I expect to happen to an IDO token?
- Is there any IDO that I should join?
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