TrustKeys IDO To Follow As TKblockchain Closes $4 Million Funding Round
Decentralized SuperApp Trustkeys is currently on its second round of fundraising and has managed to raise $4 million so far. As it stands the TKblockchain project is doing its funding rounds, a crucial step for any project before it goes through its Initial Dex Offering which will make the project available to the public.
This funding round is expected to be over by the end of the month on the 27th of October with the IDO to begin shortly after. So far, the project has attracted investment and/or support from Vitex Capital, VBC Ventures, SONEK. JSC, Paditech. JSC, MH Group, Noron.vn, Giuptoi.vn, and Krystal.app .
Early project development requires a significant amount of fundraising for teams and fund collaborations or new technology. Investors may purchase equity in a business via public stock offerings, which is how it’s done in the real world. This money is used to reward company workers who work hard to grow the company and raise stock prices.
The Era of ICO’s , IDO’s & Token Offerings
Tokens have replaced equities as the primary means of generating funds in the crypto world. For each project, a certain number of tokens are made available for a variety of purposes, including team compensation, public usage, and more. Selling coins to make money, on the other hand, isn’t as straightforward. To generate money for a crypto project, there are several options available such as ICO, IDO, and IEO.
Decentralized liquidity exchanges issue IDO coins, which are then traded on those exchanges with the first-ever IDO having been held at Binance DEX. To make protocols accessible to traders without being governed by others, the IDO uses a fund-raising mechanism. Anyone may start an IDO on their own. Due to the issuer’s ability to control the occurrence, it offers no assurance or guarantee. More companies are turning to IDO for fundraising, and it’s growing in popularity.
The issuers handle all the obligations in an ICO, which is the same as an IPO. IEO, on the other hand, relies on a centralized exchange host to do this task. As a result, the IDO is a hybrid of an ICO and an IEO. The main distinction is that IDO uses a decentralized exchange instead of a centralized one.
Initial Exchange Offerings (IEOs) and Initial Dex Offerings (IDOs) are quite similar. Tokens may be exchanged directly between organizations or merchants in either method. However, since IEO is centralized and self-organized, there is no exchange charge in IDO. Furthermore, IDO eliminates some of the drawbacks of an IEO, such as the inability of token issuers to list their tokens on rival exchanges. A significant token stack or a large amount is also required by the issuer to offer the token in exchange. Additionally, issuers have no say in how much money they raise.
TrustKeys Gears up for Public Launch
TrustKeys IDO will be a crucial step in their fundraising approach. Although it remains to be seen how well it will do, a successful IDO will come with immediate liquidity, a crucial benefit for any project.
TrustKeys is a blockchain project centered around its SuperApp which will provide a slew of different features such as a personal wallet with a 24-word seed, an exchange without KYC requirements, and a social media and messaging platform. NFT integration is also being planned for launch soon. With a comprehensive roadmap and stellar team working behind the scenes, TrustKeys will reshape the user-experience from non-custodial wallets.