IEOs are now witnessing a huge turn in fortune despite data showing that most traders have left the scene to venture into Bitcoin. The recent one that saw Binance IEO launch its latest project, Safepal, has seen a massive turn of fortune on the crypto company. With Binance launchpad listing the recently created project, the profit generated on the part of the token saw a return of about 1800%.
The initial Exchange Offering investors will be the biggest winners as most of them were involved in the project from start to finish. In the IEO that took place, the listed Safepal saw its price rise from a region around $0.10 to place at a region near $1.9 in the early stages after it was launched.
Binance Launchpad used a new method for the listing
Even though experts will argue that it is impossible for trades to go on at such a high amount in a short time, the listed asset is now trading around $1.3. Even with what would be described as a price decline or correction, traders could still amass profits worth 1300%. Notably, Binance launched this IEO differently as the crypto exchange made sure that the new launch that happened through its launchpad brought in so many profits for traders.
To make this launch a success, users were asked to note the number of BNB there were going to invest in, and the Exchange calculated the profit that each person was going to earn based on that. The average of the total BNB that was sent into the launchpad was the total profit that every trader who invested in the IEO earned.
Initial Dex Offering has been on the rise
Making a case for the results, one can note that this technique brought in massive profits and would go down in history as one of the most successful IEOs that has ever been held on the platform. The previous success looks like market euphoria is gradually moving on to catch up with the entire market. The DeFi sector is also witnessing an uprise in terms of the number of Initial Dex Offering. Notably, the IDO, as it is fondly called, was not a thing until some months back that some entities held the first-ever IDO.
Experts have noted that the IDOs night’s success is why the Binance Launchpad recent IEO saw a massive profit. The IDOs are now a thing, and it is usually held on the platform that belongs to a protocol, Pokkastater in the DeFi space. This IDO sees investors share a huge amount of tokens distributed after they are listed on Uniswap.
With this method, most of the protocols used by the IDO have recorded a massive amount of gains in the decentralized finance sector. The latest protocol to take on this method is Option Room. The token saw its price double by 100% after its listing on Uniswap to buttress how successful this method is.