InWara - ICO Database, ICO review, Security tokens and more

Ampleforth IEO to launch on Tokinex- a price stable, non-correlated crypto?

Ampleforth IEO

Ampleforth is the first project to be launched on the recently introduced Initial Exchange Offering platform — Tokinex and its token sale is set to start on 13th June, according to InWara’s market intelligence platform. This will mark the first IEO project on Tokinex which is Bitfinex’s Initial Exchange Offering platform.

Notably, Initial Exchange Offerings have outperformed Initial Coin Offerings, Security Token Offerings, and Venture Capital in the Blockchain space during the month of May.


Total Funds raised during May 2019

Ampleforth IEO

Source

Like our data? You'll love our market intelligence platform Get started

 

Initial Exchange Offerings raised as much as $1.2 billion last month, accounting for as much as 45% of the total funds raised by Blockchain and crypto projects. Security Token Offerings only accounted for 10% of the total funds raised akin to $255 million and Initial Coin Offerings accounted for only 4% of the funds raised akin to $105 million.


So what’s Ampleforth’s vision?

In essence, it’s a digital token protocol for a cryptocurrency with the key feature being — the supply varies in direct correlation to the prevailing market. Ampleforth’s protocol is purportedly designed to have a unique volatility footprint and be uncorrelated with other assets unlike how altcoin prices have a correlation with Bitcoin.

The aim of having such a unique footprint is to reduce systemic risk in crypto investment portfolios. The end goal for Ampleforth is to become a better suited global reserve of money than existing cryptocurrencies but also not be branded as a stable coin.

Ampleforth IEO

Source

Here’s a comparison of Ampleforth protocol to that of other tokens including stablecoins like Tether, MakerDAO, and Basis. Clearly, there are more than a few subtle differences and similarities.

Notably, Bitfinex ran into trouble with the New York attorney general just a few ago for covering up $850 million loss of client and corporate funds. The parent company of Bitfinex — iFinex was accused of redirecting funds to Tether (owned by iFinex) to cover up the losses. Check out our article on Bitfinex fiasco here to know more.

Register for a free trial

The Most Trusted

Market Intelligence Platform

Get Started