Crypto trading platform Poloniex has just announced the launch of an initial exchange offering (IEO) platform. The exchange said:
"The LaunchBase platform will collaborate closely with projects, community members and industry-wide partners to seed and promote the adoption of quality cryptocurrencies worldwide, including via the sale of tokens to eligible participants on the Poloniex platform. All participants will be subject to eligibility and screening requirements."
Poloniex has also reported it plans to provide professional advice to the projects participating in LaunchBase in order to help them gain traction and adoption.
The first IEO to be carried out in LaunchBase will be JUST, a TRON-based stablecoins lending platform. JUST is a decentralized lending platform where users can stake TRX through JUST’s CDP portal to generate USDJ, a stablecoin linked to the US dollar in a 1:1 ratio. JST can be used for interest payments, platform maintenance as well as other blockchain activities.
LaunchBase will initially distribute its tokens based on the first-come, first-serve rule. JST tokens will only be sold for TRXs. It is still unknown when the IEO will be launched.
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