Crypto Exchange Bittrex to Host First Initial Exchange Offering

Crypto Exchange Bittrex to Host First Initial Exchange Offering

 
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Bittrex International, a Malta-based cryptocurrency exchange, is planning to hold a multi-million token sale on its trading platform. The company announced the news on their website.

Bittrex International digital asset trading platform will initially host the Initial Exchange Offering (IEO) of RAID’s XRD token. The start of saleы was scheduled for Friday, March 10th.

RAID is a blockchain-powered platform which aims to create a decentralized game data ecosystem. Their cryptocurrency, XRD, will be used to “reward gamers for sharing data that fosters improvements”, which should ultimately result in the development of the new technologies.

“We are committed to increasing adoption and moving the blockchain revolution forward. The ability for projects like RAID to innovate, advance, and promote the gaming industry on our platform is a game changer for all involved. And not just for RAID and our team. Now our international users have direct access to blockchain projects with the peace of mind that comes from Bittrex International regulated in Malta. We are excited for this IEO and look forward to helping similarly innovative teams connect with users to build their platforms for the future,” said Bill Shihara of Bittrex International.

In order to participate in the IEO, all interested parties will have to become fully verified on Bittrex. The hard cap is set at 17 billion XRD tokens, which currently translates to around $6 million.

“To have our IEO be the first of its kind on Bittrex International is a tremendous honor, considering their reputation and the highly selective process we went through to get here today. We, along with our core partner OP.GG, view this as a vote of confidence in our vision for this project and the gaming industry. This IEO will be crucial to making a more transparent gaming data ecosystem, and the businesses needed to achieve it, a reality,” said RAID’s co-founder Taesung Kim.

The total supply of XRD tokens, type ERC-20, is set at 100 billion. The sale will last for 14 days, while the fully verified users will be able to purchase the token by using bitcoin.

The XRD initial exchange offering is the first of its kind on the Bittrex International digital asset trading platform.