US-based cryptocurrency exchange Bittrex Worldwide headquartered in Seattle broadcasted that it will be presenting the first Initial Exchange Offering (IEO) for RAID’s XRD token As per the firm’s official blog post, the hard cap for the IEO is 17 billion XRD, with the company aiming to raise around $6 million.

The current pessimistic market is forcing blockchain and crypto corporations to adapt to a hostile market atmosphere by developing with new ways in which to boost each cash and awareness.

Following within the footsteps of Binance’s launch pad, Bittrex International, the worldwide arm of US-based crypto exchange Bittrex, has proclaimed that it’ll be hosting Associate in Nursing Initial Exchange providing (IEO) later on.

Unlike a conventional Initial Coin providing (ICO), wherever the corporate or developers mint new tokens to urge direct contributions from customers, Associate in Nursing IEO encompasses a cryptocurrency exchange perform because of the counter-party. this permits new corporations to faucet into the user base of exchange and reach a wider audience, in addition as guarantee transparency and stop scams.

According to the official announcement revealed on Mar. 11, Bittrex International can host the IEO of RAID’s XRD token. The initial exchange providing are employed by RAID, a South Korean play information blockchain project, to develop new technologies that reward gamers for sharing information that fosters enhancements, Bittrex same in its unharness.

IEO, a giant Step each for Bittrex and RAID

Bittrex’s IEO is regular to begin Mar. fifteenth and can have a tough cap of seventeen billion XRD. If the laborious cap is reached, the seventeen billion coins can represent seventeen p.c of XRD’s total provide, raising the corporate roughly $6 million. All of the tokens are issued by ONE RAID, a Singaporean Company, the corporate same within the unharness.

Taesung Kim, one among the founders of RAID, same that having the company’s IEO be the primary of its kind on Bittrex was a “tremendous honor,” adding that the corporate viewed this as a vote of confidence in their vision.

Bill Shihara of Bittrex International was equally optimistic concerning the project, voice communication that the exchange was committed to increasing adoption and moving the blockchain revolution forward. He was other that this represents a vital development for his or her shoppers.

“Now our international users have direct access to blockchain projects with the peace of mind that comes from Bittrex International regulated in Malta,” Shihara said in the company’s release.

About Bittrex

Bittrex Global is a safe, reliable and advanced digital asset trading platform developed for international customers and built on Bittrex’s cutting-edge technology. This international trading platform provides innovative tokens a more streamlined approach for being listed, while also providing instant trade execution, dependable digital wallets, and industry-leading security practices. The company is committed to being a driving force in the blockchain revolution by increasing adoption of this innovative technology around the world. Using the streamlined token listing process, the company will advance new, innovative blockchain projects that could potentially transform the way goods, services and operations are managed globally.