According to a Binance announcement published on 18 April, the Initial DEX Offering (IDO) will take place on 23 April on Polkastarter, a decentralized launchpad for cross-chain token pools and auctions. The BSC-only IDO is set to change the makeup of IDO strategies for early-stage companies, as all pools on Polkastarter have previously taken place on Ethereum.
Daniel Stockhaus, the co-founder and CEO of Polkastarter, said that Refinable’s IDO is the first step into bringing more projects into the thriving BSC ecosystem.
“We will continue to innovate the decentralized funding landscape while improving the experience for our projects and users,” he said in the company’s announcement.
Refinable, an NFT marketplace backed by Binance, will distribute 500 million $FINE tokens, worth $180,000, in two pools before listing the token on PancakeSwap. Over 6,500 ETH has so far been raised across 40 projects in the past four months on Polkastarter. To make token swapping easier for its users, the platform recently bridged its proprietary $POLS token to Binance Smart Chain (BSC), making it tradeable on AMMs such as PancakeSwap and Uniswap.