Bitfinex has just announced a new platform for the management of Initial Exchange Offerings: Tokinex.
The exchange follows KuCoin, OKCoin and challenges Binance Launchpad in the IEO race.
The actual launch of the first token will be announced on Thursday, May 23rd and will officially start on June 13th. Bitfinex claims that the exchange has completed several tests to ensure the reliability and security of the platform.
“Qualified users simply complete KYC for each sale using the Blockpass mobile app and then contribute their funds from their personal exchange wallet when the sale opens”.
Here are the key features of the Tokinex ecosystem:
- access to projects that have been “checked “, including tokens and the sale;
- ability to purchase new tokens directly by using the assets already present in the exchange wallet;
- user data will remain secure. Tokinex uses the Blockpass KYC service and does not store any user data;
- the guarantee that each project is reviewed both technically and commercially;
How to participate in token sales
The first token on Tokinex will be announced on May 23rd and will start on June 13th. Users residing within the US (or other prohibited jurisdictions) will not be able to participate in the sale.
There are several advantages to fundraising using IEOs as opposed to ICOs. In particular, the exchange itself is required to verify the KYC (Know-Your-Customer) and AML (Anti-Money-Laundering) of customers.
All tokens will be listed on both Bitfinex and Ethfinex. In addition to Tokinex, the company has just launched LEO, the Bitfinex token. LEO trading began yesterday, May 20th, directly on the platform, whereas during the private sale $1 billion of funds were raised.
This is the link of the Telegram group dedicated to LEO investors.
The token will offer the possibility to reduce the commissions related to the exchange and the ecosystem that is creating Bitfinex seems to want to compete in all respects with Binance.