On February 25th, the TokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details Sale of the Fetch.ai project was launched on the Binance cryptocurrency exchange, which closed in record time. In just 22 seconds, IEO collected about $ 6 million.
IEO is a popular type of ICOICO
(Initial Coin Offerings) is an acronym, which means a primary currency offer. Details that is more orderly. In the case of IEO, investors deposit funds through smart-contracts to the exchange wallet. This makes the investment process automated, more reliable, and much faster.
Interesting in the section: ICO and its main characteristics
IEO tokens from Fetch.ai on Binance
The pre-sale of the tokens of the Fetch.ai project was launched on the Binance on February 25th. According to the platform’s CEO comments, IEO lasted only 22 seconds.
The cost of one FET token (Fetch.ai) was about $ 0.08, which is equivalent to 0.008584 BNB (Binance Coin). In record time, FET coin purchase orders have created more than 200,000 potential investors. But since the number of tokens was limited, only 2758 participants managed to invest.
Recall that the Fetch.AI blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details platform is a service for creating your "economy" on the Internet. According to the project’s press release, the concepts of machine learning and artificial intelligence will be used on the platform in the future. Also, in the press release, it was said that the platform will work on a unique blockchain with a very high level of scalability and enormous throughput.
In his Twitter, Changpeng Zhao commented on the "instant" IEO: "It was over in about 10 seconds. The customer queue was fully served in seconds (...) Congratulations @ fetch_ai!"
Interesting in the section: Description of the Binance exchange platform, the algorithm for creating an account
A few minutes later a new tweet appeared. Ch. Zhao corrected the data on the duration of IEO, adding that Token Sale did not last 10, but 22 seconds. ("The first 22 seconds (not 10)"). 6 million dollars in 22 seconds, with such figures marked Token Sale on Binance. Recall that this is the second automatic Token Sale on the exchange. The first IEO was for BitTorrent tokens (almost 20 minutes and $ 7 million of investment).
Editor: Yulia Krasnaya