​The first-ever IDO on The Open Network. Today, the TON block | TON Community

​The first-ever IDO on The Open Network.

Today, the TON blockchain reached a milestone: The Tonstarter launchpad announced that the Fanzee sports project would be the first in TON’s history to have an IDO.

What’s an IDO?

Without getting bogged down in details, an IDO, or initial decentralized exchange offering, is a way to attract funding for projects in an early stage of development.

An IDO is essentially a method to give a broad audience an opportunity to obtain tokens of a project in early development.

Ideally, an IDO’s distribution procedure benefits everyone: the project gets investments to continue development, and investors receive tokens that could potentially rise in value once it gets listed on a DEX.

Why is this important for the ecosystem?

The network’s inaugural IDO and Tonstarter’s first launch mark a new era for the DeFi market on TON. Private investors will get the chance to invest openly and transparently in up-and-coming services, while crypto projects raise funds as an instrument to develop further.

We’re confident that this is just the first of many IDOs, and once DEXs start popping up, the TON market will surely experience a surge in financial activity.

We’ve already discussed what a launchpad is and published a post on the Web3 sports-centric Fanzee startup, which raised over $2 million in investments.

Disclaimer:

This message does not constitute financial advice. If you invest in crypto products, you thereby incur the risks.