Сryptocurrency exchange KuСoin plans to launch KuCoin Spotlight, a platform for initial exchange offerings (IEO), the company reported yesterday in a statement.
The platform's representatives have announced that the first campaigns to be conducted on the platform will be revealed this week. The tokens will be distributed according to the order of receipt of requests from investors (the first tokens to arrive will be the first to be sold). The sale will be based on the exchange token, KuCoin Shares (KCS), and the actual price will only be announced on the day of sale.
Investors are required to complete the platform verification process to be able to take part in the campaigns. Users from some countries and regions cannot participate in the sales.
Initial exchange offering (IEO) is a fundraising procedure by means of which developers create tokens for their projects and directly send them to cryptocurrency exchanges, where traders can buy them.
In August 2017, Binance launched Launchpad, a token sales platform. OKEx launched a similar product shortly afterwards while Bittrex International did so a bit later.
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