Recently, the cryptocurrency exchange CoinFlex announced to launch its first "Initial futures offering (IFO) for its token called PolkaDot's DOT.
On July 15th, CoinFlex already started pre-registration for buying DOT tokens at a discounted rate of $75 per DOT.
CoinFlex CEO Mark Lamb said:
“This is the first time we’ve made a futures market for a coin that doesn’t actually exist yet. It’s a determiner of the price before the asset exists.”
My question here are:
- Is this same as IEO? What is the difference between IEO and IFO?
- Why do exchanges offer these IFO or IEO? How do they benefit from these?
