According to TechFlow, the Japan Crypto Asset Business Association (JCBA) has released a preliminary proposal for IEO reform, aiming to improve the robustness of fund raising through the IEO system.
Specific suggestions include establishing a lock-up period for interested parties, ensuring liquidity, diversifying the calculation methods of issuance prices, and improving stable operations. The lock-up period for interested parties includes a lock-up period of at least three months for participants in IEO projects (including exchanges).