Category Archives: IEO

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CorionX is ‘Gas’ for Stablecoin and DeFi Adoption. IEO Second Round Starts August 18th on ProBit Exchange

Bitcoin Press Release: CorionX is a utility token and pioneer for the adoption, development of stablecoins, cryptocurrency education, DeFi, and CBDC’s. The CorionX (CORX) IEO second round will run with a limited amount of tokens from August 18th to September 1st, 2020. 

12th August 2020, SwitzerlandSwiss-based Corion Foundation launched in 2016, and focuses on bringing the cryptocurrency and stablecoin industries together with its own utility token, and education platform. Since its inception, the project has branched out into the DeFi industry and CBDC (Central Bank Digital Currencies) market, to help millions gain access to these emerging technologies. 

What is CorionX?

CorionX (CORX) is an ERC20 utility token for an educational platform that focuses on the adoption and education of stablecoins, CBDC’s, OpenFinance, Crypto Saving & Lending  and DeFi solutions. The project has a strong community foundation, and vision of forging a collaboration between all of these industries and building a global community to onboard mainstream users. The company is already achieving this vision through the success of the #MoneyInTheRightDirection Movement.

CorionX Movement and Partnerships

#MoneyInTheRightDirection is a movement that Corion started back in 2019 to develop and educate Individuals, financial providers, hedge funds, and merchants about stablecoins, cryptocurrencies, and open finance solutions. 

The movement was created to accelerate cryptocurrency and Decentralized Finance adoption on every level. From teaching the aspiring cryptocurrency enthusiast to manage a digital wallet, and invest in cryptocurrencies on their own, to guiding a large stablecoin project in finding the right influencers for its development. 

In addition to project development, educational programs, and the #MoneyInTheRightDirection movement, CorionX have also been forming strong partnerships with industry leaders to further its cause for mainstream adoption. It’s partnership with top Korean Exchange Probit gave Corion the perfect platform to launch it’s utility token IEO. 

The Swiss-based platform also forged partnerships with wallet integration XcelPay, portfolio tracker CoinMarketAlert, interoperability bridge Syscoin and San Francisco-based next gen banking platform Vesto.io

Key DeFi Industry Problems

Interoperability is something that has not yet been applied to the stablecoin market. There is no specific project that supports, promotes and co-operates with other stablecoins, cryptocurrencies, and DeFi projects. 

The majority of projects usually focus on their own specific coin, it’s purpose, or solution. There is only minimal collaboration within these parties, and they rarely integrate each other’s solutions. It is therefore difficult for the mainstream to enter the market and use stablecoins, manage cryptocurrency, and understand DeFi’s potential, due to a lack of education and industry collaboration.

The CorionX Solution

CorionX is building a global community where every member can share knowledge, use cases and information on all facets of varied digital finance. The CORX ERC20 utility token will act as an incentive for stablecoin and DeFi adoption, and fuel the movement members & other participants to share information, build the community, and use practical crypto applications.

Everyday users have much different needs to large companies. Ordinary users will benefit greatly from the CorionX education program and practical apps, while bigger industries and companies can take advantage of the deep technical analysis, and complex strategies the company has to offer. 

All users, and holders of CORX will be an integral part of the solution, and will personally benefit from their involvement. A few of the the additional benefits of the CorionX Utility token include:

  • CorionX token holders are entitled to be rewarded 2.5% quarterly in the Loyalty Staking Program after their average balance, without locking up the funds.
  • CorionX can be used to pay membership fees and other service fees of CorionX, Corion Foundation and partners infrastructure in CorionX.
  • The CorionX team and community recruits merchants to accept stablecoins and they will be able to discuss cashback promotions in CorionX.
  • Service providers and merchants accepting stablecoins will be motivated to use CorionX for promotions and cashbacks to encourage stablecoin payments and usage within their consumers.
  • CorionX is used for bounties to increase the number of community members and their stablecoin/cryptocurrency usage.

CORX token IEO

The CORX ERC20 utility token IEO second round is about to start on ProBit Exchange, which will run from 05:00 August 18th, (GMT+2) to 16:59 September 1st, 2020. 

Participants of the IEO can purchase CORX for $0.015 USDT, and can take advantage of an impressive 13% bonus for all purchases with USDT, BTC and ETH. Participants can bump that bonus up to 15% when purchasing with ProBit’s native token PROB. 

The CorionX IEO represents a great opportunity for enthusiasts and companies to be a part of a groundbreaking project, and benefit from staking rewards, DeFi evolution, bounties, and promotions. 

Register here for the CorionX IEO today! 

 

Media Contact Details

Contact name: Miklos Denkler

Email: [email protected]

 

Learn more about CorionX https://corion.io/corionx/

Join the second round of the CorionX IEOhttps://www.probit.com/en-us/ieo/corx-round1/1

Read the Whitepaperhttps://corion.io/corionx-whitepaper-en/index.htm#

Follow CorionX on Twitter https://twitter.com/CorionPlatform 

Find CorionX on Facebook https://www.facebook.com/CorionFoundation 

Join the Official Telegram Group https://t.me/corionx 

CorionX on YouTube https://www.youtube.com/watch?v=AaSJ2_HhF8I

Official Corion Medium Blog https://medium.com/@Corion 

Meet the Corion Team on Linkedin https://www.linkedin.com/company/corionplatform/

 

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How the ICO Market Has Been Regaining Investor Faith

How the ICO Market Has Been Regaining Investor Faith

In 2018, funds raised from initial coin offerings (ICOs) fell dramatically from over USD 1 and a half billion in January, to under USD 75 million in December.

However, new data showing the activities of the month of May so far indicates that investor faith has begun to regain strength in the light of increasingly highly-rated ICO projects, with 85% of the total projects receiving a high rating between 3-3.5 stars. This is a significant increase, even from April 2019 which claimed an average of just 68% of projects gaining this trusted star rating.

As many viewed ICOs and similar token events as a groundbreaking new way to fund startup projects in the blockchain space, the slow fizzle out of popularity last year was highly disappointing. It seemed to be that these token offerings had collapsed under the weight of up to 80% scam projects flooding the market, as well as crashing prices across nearly all cryptocurrency.

ICO bench data shows that 157 ICOs have been launched in May so far, expanding the total number of published projects to 5,512. There are currently 287 ongoing ICOS, with a further 140 expected in the near future.

A summary of the ICObench ICO Market Half-Monthly Analysis May 2019 report can be accessed for free with a trial subscription on the platform.

Moving away from the established model

Trends away from the established ICO model are likely in reaction to the poor quality and trust standards that became prominent amongst ICOs, beginning in 2017.

The month of May 2019 has so far been overwhelmed by Bitfinex’s USD 1 billion initial exchange offering (IEO) — a relatively new model available to investors where they can participate in a centralized cryptocurrency exchange’s token offering. The exchange involved operates the sales, vetting both the project and prospective investors.

Bitfinex’s IEO has contributed significantly towards this month’s roughly USD 1.075 billion collected in token sales — the highest total funds raised in 2019 to date.

This year has also seen a rise in popularity of security token offerings (STOs). STOs claim to offer a more trusted model than the ICO as the security token issued to investors represents an investment contract, acting similar to ownership information given to investors in the stocks or bonds, just recorded on the blockchain via the token instead.

STOs can be seen as a lower risk than ICOs because they are protected by securities laws that the tokens must comply with, legally enforcing transparency and accountability from the project behind the token.

STOs raised USD 1 and a half million in March 2019; this figure jumps up to over USD 5 and a half million in May so far.

Indeed, because active ICOs have a higher average trust rating than one year ago, it enforces greater trust in investments made across the cryptocurrency market.

The move towards alternative token investment models such as STOs and IEOs could certainly be one reason investors are regaining trust in early blockchain project investment. However, May’s bullish market performance could certainly have also had a great impact on the number of investors willing to participate in token offerings.

 

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Bitfinex Seeks $1 Billion in Exchange Offering

Bitfinex Seeks  Billion in Exchange Offering

Just as initial coin offerings used to whip up a frenzy of interest leading up to the boom in crypto price, initial exchange offerings (IEOs) now seem to be the flavor of the crypto year, as giant exchange Bitfinex is now rumored to be looking to raise up to USD 1 billion in its own IEO.

Founding partner of VC firm Primitive Ventures Dovey Wan is the instigator of this latest rumor, saying that Bitfinex was planning a sale of company-branded crypto tokens and an on-platform IEO. A document purportedly obtained by The Block cites China-based Bitcoin investor and Bitfinex shareholder Zhao Dong as the source. The token, dubbed LEO, will be the one sold to raise capital.

The Block head analyst Larry Cermak Tweeted his findings:

Bitfinex released their IEO white paper to raise $1 billion and The Block has all the details. Summary belowhttps://t.co/34FMFeFLp7

— Larry Cermak (@lawmaster) May 4, 2019

The white paper apparently confirms this news. It is also rumored that Bitfinex will allocate 60% of the placement to private backers, although it is not clear if they will benefit from cheaper prices than retail investors buying the tokens during the IEO.

LEO appears to be a utility token as well as a redeemable asset, much in the vein of Binance Coin (BNB), the native token of the world’s largest crypto exchange by trading volume. LEO will also be bought back each month, and Bitfinex will be doing even more than Binance to burn its tokens, committing 27% of its monthly profits to achieve a higher burn rate. This is expected to make the token even more scarce, thus increasing its value, assuming constant demand for a dwindling supply.

 

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IEO Offers Light Post-ICO Era, but Not All Are Convinced

IEO Offers Light Post-ICO Era, but Not All Are Convinced

After the apparent bursting of the initial coin offering (ICO) bubble, startups have been struggling to raise funds through the crypto or token model of token/coin offerings as investor interest dwindled and price problems continued. That is, until 2019 introduced the concept of initial exchange offerings (IEOs).

Retail investors have warmed up to the idea of buying tokens for a project that has already been assessed by a trusted entity, in this case cryptocurrency exchanges, believing that the likelihood of getting scammed by a project is far less if the project has been approved by an exchange.

As reported by Bloomberg, crypto analytics firm CoinSchedule has recorded 23 such offerings already since February 2019, raising a total of USD 180 million. Bittrex CEO Bill Shihara, whose own platform launched its first IEO this month, selling out in under 1 minute, spoke in positive terms of the new concept:

“It [IEO] has the potential to be larger than the ICOs of 2017. We are seeing significant demand both from our users and token teams.”

However, not everyone is viewing this with positive eyes. Zach Fallon, a securities lawyer who worked on ICO-related issues at the US Securities and Exchange Commission until last year, makes a brutal assessment that IEOs “take everything from an ICO and make it worse”. He believes that IEOs are still exposing investors to the risk of fraud because the vetting processes are not transparent nor standardized.

ICOs have not yet died completely. CoinSchedule shows that ICOs have raised USD208 million, only slightly more than IEOs in their early stages of discovery.

 

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Crypto Exchanges Cast IEO Spell, Global FOMO in Effect

Crypto Exchanges Cast IEO Spell, Global FOMO in Effect

After months of research and development, global crypto exchanges finally revealed a new magical weapon in their spellbook with the successful casting of the “Initial Exchange Offering” (IEO) spell earlier this year.

Mages from the various exchanges and crypto launchpads caused a highly potent global FOMO effect to take hold on cryptocurrency investors, with analysts now expecting the incantation to last for at least 20 more weeks. Head of Crypto Magickery at Acme Exchange, Lightning “SegWit” Wraithlanda, thought to be the first to mutter the correct words correctly, refused to take credit for the latest buzzword in crypto. She said that the idea of an ICO launched by trusted entities was not new:

“IEOs are really just ICOs, except, as the name suggests, it’s a magical offering spell cast via an exchange. Everyone trusts us exchanges, you see, so if we say BitTorrent‘s the shizzle, it becomes the shizzle. Of course, getting the spell right was the key all along.”

A basic offering spell, when cast, results in the creation of digital tokens, wealth and Lambos out of thin air. If successful, it also results in a FOMO effect that convinces its victims to part with recognized cryptocurrencies such as Bitcoin, in exchange for some new magic tokens. The ICO was the most popular enchantment learned by crypto wizards and enjoyed great success for many years.

Since late 2017, however, resistance and, in some cases, complete immunity, from ICOs meant that spellcasters had to keep researching new charms. This, along with efforts by governments around the world to stamp out the use of occult money and arcane finance, forced exchanges to recruit students of the mystic arts and fund their research.

Security token offerings (STOs) and IEOs are the latest results of such research into the dark arts of crypto magick but detractors say that these new spells come at a steep price to the environment.

“It used to be eye of newt, an infant’s tear, and a white paper, and you could put together a decent ICO. But these new IEOs also require dragonscale, cod’s breath and smart contract audits just to get off the ground. It’s a serious threat of extinction for dragons and cods alike, not to mention the effect on Fiverr Solidity programmers,” remarked a crypto investor, who shall not be named.

CEOs of exchanges have so far declined to comment on the continued use of offering spells by their exchanges, but many have made subtle references to an obscure prophecy that believes the second coming of Satoshi will only be brought on when the institutional investors have entered “full FOMO mode”.

 

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