OKEx to Host 11th IEO Amid Crypto Bear Market

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OKEx has announced its 11^th exchange-based token sale coming soon on the Jumpstart platform. With the crypto market still in a state of decline, will investors be tempted to try and make quick returns? 

OKEx Helps Entertainment Platform Launch Token

Malta-based OKEx, which operates a spot and derivative trading platform, will launch the sale of DEAPCOIN (DEP) on April 8.

The token will fuel the DEPA platform, which is an entertainment ecosystem where users will be able to obtain token reward while playing free games and manga.

The platform will include several components, including DEA Bank, Gaming Company, Digital Art Auction, PlayMiner, and Creator. The latter is where is where users will be able to acquire DEP.

OKEx Chief Strategy Officer Alysa Xu explained:

We are delighted to reach partnership with DEAP and become the only platform to sell DEP token. DEAP shares the same vision with us that blockchain technology will be massively adopted as an essential tool for many industries

She stressed that OKEx would focus to expand its reach in several sectors, especially supporting the integration of the distributed ledger technology (DLT) with existing industries to “generate larger synergies.”

After the token sale, OKEx will DEP/USDT and DEP/USDK on its spot trading platform. The total supply of DEP tokens is 30 billion.

IEOs Survive During the Crisis

Crypto startups are still counting on IEOs to raise funds. This form of crowdfunding succeeds initial coin offerings (ICOs), which have been compromised by a high number of scams.

However, it doesn’t necessarily mean that IEO tokens are different. Even decent exchanges can mistakenly or knowingly back low-quality projects. If the project fails, the exchange platform would likely delist the token, leaving the early investors stuck with potentially worthless coins. Thus, due-diligence is imperative before picking an IEO project.

The most popular crypto exchanges organizing IEO events on their platforms are OKEx, Binance, and Huobi.

OKEx’s recent announcement proves that the crypto market is active despite the general crisis amid the coronavirus pandemic.

Have you ever taken part in an IEO? Share your experience in the comments section below!  

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