ICOs and token sales became popular in the crypto community around 2017, raising an estimated $4.9 billion by the end of the year. While many have gone on to succeed, far more have failed, and it can’t be denied that ICOs have several flaws – chiefly, that they’re centralised and vulnerable.
Third-party discrimination, vulnerability to theft, human error, and lack of privacy are all notable flaws of ICOs. More recently, investors prefer to act with caution and favour investing in projects with a higher chance of multiplying their ROIs. Could IDOs (initial DEX offerings) be the better choice?
Because of the decentralised nature of IDOs, this new model aims to address the issues with ICOs while also expanding the crypto market’s capabilities. Entrepreneurs can release a blockchain product that is less susceptible to malicious third-party influencers, as well as hackers and human error, by crowdfunding via IDOs. Furthermore, the coins of token holders are instantly secured in their wallets and private keys.
With Calyx Network (CLX) going into presale and already stirring up interest, what can investors expect from the enigmatic new Calyx Network (CLX), based on past IDOs?
UMA Protocol (UMA)
The UMA Protocol (UMA), an Ethereum (ETH)-based platform for producing and trading synthetic assets, is one example of an IDO. MahaDAO, a decentralised autonomous organisation, has announced an IDO for MAHA (their governance token) would be released. This token, according to its creators, governs ARTH, the world’s first non-depreciating cryptocurrency.
Sushiswap (SUSHI)
SushiSwap (SUSHI), a decentralised crypto exchange based on Ethereum (ETH), is another example. SushiSwap (SUSHI) is attempting to replace Uniswap (UNI) as the most popular Ethereum (ETH) based DEX platform. SushiSwap (SUSHI) users are said to have transferred over $1.14 billion in Uniswap’s (UNI) locked crypto assets to the SushiSwap (SUSHI) platform in September 2020.
SushiSwap (SUSHI), rather than holding an ICO, rewarded liquidity providers on Uniswap (UNI) by allowing them to stake their LP tokens on the platform. Users were rewarded in SUSHI tokens for their efforts. During SushiSwap’s first 2 weeks, 1,000 SUSHI tokens were distributed to users who staked their Uniswap (UNI) LP tokens on SushiSwap’s (SUSHI) initial protocol every Ethereum (ETH) block, which equates to roughly every 12 seconds.
Calyx Network (CLX)
Calyx Network (CLX) is planning on changing the game for those who rely on exchanges to purchase crypto, but are fed up with the sluggish and costly process of it. With the network’s Calyx Swap, this process can be eliminated by making it simple for users to switch between tokens in a single transaction at the best prices available across all DEX platforms.
Calyx Network (CLX) also aims to embrace DeFi to the fullest. Users will not be required to create an account or register on Calyx Network (CLX) to participate in its seamless exchange process. For the time being, the token swap will be carried out on the Ethereum (ETH) blockchain for transparent transactions, with future possibilities to expand to other blockchains, according to its roadmap.
Most importantly, through CalyxDAO, Calyx Network (CLX) will be fully community-driven – managed and governed by community members who hold the native token $CLX. As the Calyx Network (CLX) expands, it will be more important than ever to place complete control in the hands of the community, allowing them to vote on and implement important network decisions.
Facilitated via smart contracts, Calyx Network (CLX) strives to be trustless, secure and transparent. Unlike other exchange platforms, Calyx Network (CLX) will offer instant trade, in which users immediately receive the tokens they’ve requested. Furthermore, Calyx Network (CLX) is paving the way for Web 3.0, by providing a dynamic range of token options for instant trade with low settlement risk, which is an important factor in making the product ready for real-world commerce.
Find out more:
https://presale.calyx.network/
https://t.me/CALYX_NETWORK_OFFICIAL
https://twitter.com/CalyxNetwork
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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