ChainEX partners with MenaPay for first initial exchange offering
ChainEX has announced that it has partnered with MenaPay for its first initial exchange offering (IEO) and is selling MPay tokens from 15 March to 15 May 2019. ChainEX is the first African exchange and is among the first exchanges in the world to have launched an IEO platform.
One of the new fundraising approaches to crypto-banking is the IEO. It has caught the attention of initial coin offering projects, fundraisers and traders worldwide. An IEO allows an investor to buy the tokens launched through the IEO on a crypto exchange. The exchange is basically acting as the intermediary between the start-ups and contributors.
ChainEX is excited to conduct the IEO for MenaPay, as it is one of the most anticipated IEOs of the year.
MPay tokens will be sold on ChainEX for $0.165, with a 20% bonus for the first 1 000 000 tokens sold and a 10% bonus for the second 1 000 000 tokens sold. The token holders will be able to benefit from both the token's increasing worth in the marketplace and the buy-back mechanism.
Although IEOs are a new phenomenon, there is no doubt they will continue to grow and make crypto-currencies and exchanges even more appealing to a wider market.