I've been meaning to talk about this for a while, and I finally have time to write about it.
An IEO (Initial Exchange Offering) is a token sale conducted through an exchange's launch platform, with the exchange handling project screening and sales.
During the ICO boom around 2017, many projects raised large sums with nothing more than a white paper, and many later failed to deliver on their promises.
The early development funding for $ETH came from a public crowdfunding campaign in 2014. Currently, 2455.55.
Have you heard about this before?