Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future

okex

Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future

Okex has announced the launch of its Initial Exchange Offering for its users: Ok Jumpstart. The IEO of exchange will help new projects and blockchain based projects to launch their tokens on the exchange.

According to their blog post:

By saving the time and resources for getting listed on exchanges, project teams will be able to focus on project development and community management.

How is an Exchange Offering Different from an ICO?

While the exchange will continue to administer the working of the ‘Exchange tokens,’ an independent, autonomous team is designated the job of working on the Exchange Token.

Furthermore, the Exchange Offering is exclusively open for the exchange users only. While this creates an ambiguity as the exchange is open to the public. However, it gives assurance of KYC and AML compliance along with trust protection to the token holders.

IEO vs ICO
         IEO vs ICO

The exchange reaffirms that an exchange offering is entirely different from an ICO as the exchange is a tangible running model, rather than an idea on a whitepaper. Hence, the chances of it performing, in the long run, are higher.

“Instead, the exchange is risking their credibility when doing IEOs, since it has no control over the IEO project team’s operation and product delivery as promised in the latter’s white paper… This provides an extra layer of protection to contributors.”

Also Read: Bittrex Hosting First Initial Exchange Offering (IEO), Is It Similar to Binance Launchpad?

Furthermore, Exchange Offerings can increase the degree of decentralization for an exchange. It is established as the order books, and the Exchange Token decentrally regulates exchange controls. Moreover, the Exchange acts as physical administrators of the token and the exchange. Hence they can also take immediate action during unforeseen circumstances. The new age exchange offerings from Bittrex and Okex will inevitably compete with Decentralized Exchanges in the future.

Summary
Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future
Article Name
Okex Announces the Launch of its IEO; Will Inevitably Challenge the Decentralised Exchanges in the Future
Description
Okex has announced the launch of its Initial Exchange Offering for its users: Ok Jumpstart. The IEO of exchange will help new projects and blockchain based projects to launch their tokens on the exchange.
Author
Publisher Name
Coingape
Publisher Logo
Show Comments
Nivesh Rustgi 43 Articles

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Reach out to him at [email protected]