Bittrex International Unveils Initial Exchange Offering (IEO) Platform, $6M RAID (XRD) Token Sale
Bittrex International– a safe and secure, reliable digital asset trading platform built on U.S.-based Bittrex’s cutting-edge trading technology– has come to be the very first exchange to seemingly ride the coattails of Binance’s Binance Launchpad; releasing on Monday its own exclusive token sale platform.
Without a doubt, the Malta-based Bittrex International will very soon host a token sale– or, as they are calling it, an Initial Exchange Offering (IEO)– in support of a project whose organization is intending to develop a blockchain-powered game data ecosystem.
Called RAID, the South Korean startup– who are operating closely with a leading game data company in OP.GG– has offered Bittrex International with 17 billion of their native XRD tokens for the IEO, which commences at 10:00 am (KST) on March 15th.
According to Bittrex International’s statement, “the volume of tokens sold in the course of the IEO, supposing the hard cap is achieved, will represent 17% of the total [XRD] token supply.” Each XRD will be valued at 0.00000010 BTC– or, 10 satoshis (sats)– with the maximum (minimum) purchase amount being 57 million XRD (30, 000 XRD), or somewhere around $20, 000 USD ($10.50 USD). Significantly, bitcoin (BTC) is the only cryptocurrency Bittrex International is taking for purchases of the ERC20-compliant XRD token.
Commenting on Bittrex International’s first-of-its-kind announcement in Monday’s blog post was Taesung Kim (Co-Founder, RAID), who described it “a tremendous honor” to have been chosen to lead the inaugural IEO.
We are excited for this IEO and look forward to helping similarly innovative teams connect with users to build their platforms for the future.” – Bill Shihara (Co-Founder & CEO, Bittrex)
According to the roadmap found in their whitepaper, RAID intend to release the RAID mainnet– known as RAID Chain– before the end of June this year. Upon reaching this breakthrough, the RAID team will need to migrate Ethereum-based XRD across to the RAID Chain.
Other features of RAID’s 2019 roadmap feature the full launch of RAID Launcher– an application that collects data needed for the RAID Chains to function– for PC (Q3) and mobile (Q4). The fourth quarter will also see RAID launch its game data marketplace, according to its whitepaper.