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Initial Exchange Offerings (IEOs) are a relatively new method of distributing cryptocurrency tokens during the startup crowdfunding stage. The model utilizes exchanges instead of the conventional smart contracts, website or pool to disburse the tokens. The process provides the investor with better control of the token distribution by having an equal opportunity to purchase the token without competing using “gas fees’. The process also disparages the risk associated with scams and failed ICOs as exchanges require the investor to create an account, complete KYC and purchase their tokens.