Bitfinex, a Cryptocurrency exchange, has made an announcement concerning the relaunch of Tokinex — its Initial Exchange Offering (IEO) platform — as Bitfinex Token Sales.
On Sept. 24, the news report also revealed that K.IM — P2P digital content and monetization blockchain — will also offer token starting from October 22.
BnkToTheFuture, Max Keiser and Bitcoin Capital provided $2.5 million to K.IM. In the third quarter of 2020, the platform will be formally listed on Bitfinex as it goes live as per the planned project’s roadmap.
Kim Dotcom, founder of Megaupload — the now-defunct file-sharing website — as well as a digital rights activist and an Entrepreneur, suggested the following:
“Combining the internet with Bitcoin gives us a real chance of achieving the original promise of the internet; freedom of speech, commerce and finance. […] I founded K.im to allow artists, content creators and digital businesses to cut out all the middlemen and sell content and digital goods without censorship and outside of monopolies.”
The Bitcoin blockchain has scaled so far to the point of being able to support new possibilities.
Dotcom explained that recent technical breakthroughs such as Liquid and Lightning had enabled the company to create the KIM token on top of Bitcoin. Built on Bitcoin, Bitfinex is perfectly situated to assist the company in distributing KIM tokens.
IEO holders to enjoy services
Meanwhile, Bitfinex noted that it would be directly integrated into the renewed IEO platform. Paolo Ardoino, chief technology officer of the company, made the following comments with regard to the current IEO landscape:
“Most IEO’s are marketing campaigns that focus on achieving a short-term result, but that’s not how real businesses are built. Successful businesses are built through long-term, sustainable growth.”
The company also stated that part of all future token sales would be informed of Unus Sed Leo (LEO) — its native utility token. In addition, the token holders will be able to obtain higher allocations than the ones participating with other digital assets.
Coinbase — United States-based cryptocurrency exchange — earlier indicated it intends to launch an IEO platform.