HomeCryptoBitfinex announces first IEO on Tokinex: Ampleforth

Bitfinex announces first IEO on Tokinex: Ampleforth

Bitfinex has just revealed the first IEO (Initial-Exchange-Offering) that will be hosted by Tokinex, the platform launched a few days ago. Ampleforth (AMPL) coming soon.

This is an innovative digital protocol for smart commodity-money.

What is Ampleforth (AMPL)?

Ampleforth is described as ‘synthetic commodity money’, a sort of technically advanced protocol that uses oracles to obtain very accurate exchange rates.

Owners of AMPL will receive this information depending on the tokens they own and the final price of the token will deviate as much as possible from the bitcoin value (BTC).

There are numerous use cases for this type of protocol:

  • diversification of investments in cryptocurrencies;
  • reserve guarantees for decentralised solutions such as Maker DAO;
  • an alternative to central bank money, same use case as bitcoin (BTC);

These are the words of Evan Kuo, CEO and founder of Ampleforth:

“We see Amples as having a near-term utility that naturally dovetails into a much bigger vision, and I can’t wait to see it unfold […] The Bitfinex and Ethfinex communities are among the best in the industry, and we are excited to work alongside their team for Amples’ exchange debut.”

Here’s how to participate in the IEO on Tokinex

Starting at 13:00 UTC, users will be able to verify their identity through the KYC on BlockPass. Residents of the United States and those in other unauthorised jurisdictions will not be able to participate in the IEO on Tokinex.

The sale of Ampleforth (AMPL) will begin on June 13th at 13:00 UTC and will end when the hard cap of USD 4.9 million is reached. If that does not happen, the end date for the sale is June 19th.

“The Ampleforth project is fascinating to us with its refreshing vision to become a unique digital asset and serve as a potential future reserve currency […] We believe it can provide a unique volatility profile, uncorrelated to other digital and traditional assets. This uncharted territory makes Ampleforth, and the team behind it, the perfect first project to list on Tokinex and we are excited to provide an opportunity for the community to be a part of it.”

Said Jean-Louis van der Velde, CEO of Bitfinex.