The Future of Funding is Here!

The future of funding is called IDO. We know what you are thinking: 'What in the world are IDOs?' Let’s jump into it:

IDOs, or Initial DEX Offerings, are a new form of crowdfunding that have gained popularity in the cryptocurrency and blockchain space. IDOs offer many benefits for startups, including the ability to raise funds quickly, inexpensively and with greater accessibility for participants.

Why do people participate in IDOs?

Similarly to IPOs of big companies, an IDO event of a startup is the first time their token or NFT is open for sale to the public. People who buy virtual assets during an IDO normally are looking forward to supporting the startup during its earliest stages.

What do I need to participate in an IDO?

To participate in an IDO you need a wallet, for example KEPLR Wallet. Once the wallet is set up + topped up, users can visit their favorite IDO platform and follow the instructions on the website to participate in an IDO.

There are many blockchains and ecosystems you can dive into, to participate in an IDO, today we will have a look at the blockchain of Secret Network. Currently, their ecosystem is growing, giving lots of opportunities to participate in future IDOs.

On Secret blockchain, there are several IDO platforms in the making. One of them is called YOIU. What makes YOIU interesting is that users on the platform are able to get a chance to access IDO events just by holding NFTs or via staking the SCRT token. Therefore, every user has the chance to participate. This feature is unique and filled their waiting list with more than 30k users.

IDO platform ≠ IDO platform

You have a good amount of options when choosing your IDO platform. Sadly, often times, IDO platforms are designed in a way that users have to buy a platform-token to be allowed to participate in IDO events. This can be very frustrating and creates an unpleasant environment for users, as the platform-tokens can be very volatile.

As mentioned, not all IDO platforms are the same. They are built differently and come along with many unique features. Even though they all do the same, some platforms are very exclusive and others are more open to the public.

Additionally, the range of services that different IDO platforms offer may vary, such as the level of transparency, liquidity and automation of the IDO process. It is important to research and compare the different IDO platforms and their offerings before picking to participate on one.

Are IDOs accessible for everyone?

In general, IDOs are open to a wide range of users, including retail participants and institutional participants. However, some platforms may have specific restrictions in place based on jurisdiction or accreditation status. For example, some platforms may only be open to users who are accredited, meaning that they meet certain financial or professional criteria. In addition, some countries may have laws or regulations in place that restrict or prohibit their citizens from participating in IDOs.

It's essential to check the law and regulations in the country you reside to understand the restrictions and requirements for participating in an IDO.

About

Photo Credits: Photo by Eva Bronzini

More info about the blockchain and startups mentioned above:

YOIU - A Gateway to the Future of Blockchain

Secret Network - Champion Web3 privacy

KEPLR Wallet - Open-source, IBC-enabled wallet for the Interchain ecosystem.