The Bitcoin.com exchange has just announced that it’s about to start the new year with a blast, and a second IEO.
As a reminder, the first ever IEO on the exchange.bitcoin.com platform was that of gaming giant Atari. While the crowdsale was a success with all available tokens being sold in slightly more than 24 hours, the token itself has been disappointing for investors. Despite the bull market the crypto community is currently enjoying, ATRI has lost more than half of its valuation since IEO, while every single coin it was purchasable with has grown.
The second selection by the exchange is not nearly as popular – Ideaology is a Dubai-based startup that just launched a beta version of their first product. Similarly to ATRI’s crowdsale, the tokenomics are questionable – the IEO is pricing the fully diluted market cap of a project that is still in beta at $45,000,000, and the sale is capped at $1,000,000 – slightly above 2% of the entire supply and less than the tokens dedicated to team members.
That being said, the initial circulating supply will be low – 40% of the total supply will be dedicated to platform development, marketing, team rewards and operations – and locked for 2 years. Another 38.6% will also be locked for the same duration and “after unlock it will be released in monthly tranches over 5 year period in accordance to network growth and demand”.
On a positive note, buyback and burning of IDEA tokens is also on the menu. The team explains:
The issuance, buyback and burning of IDEA tokens are managed by Ideaology Portal LLC in accordance with their policy that takes into account network growth, demand and usage.
As for the value proposition – the team will provide a freelance platform that would assist projects in finding the right professionals for a multitude of tasks. It will have an integrated digital marketplace for digital assets and services, an Idea launch-pad, and crowdfunding options for new projects.
The crowdsale will last for 10 days, or until all available quantities of the token have been exhausted. It will start on January 26.