Bittrex International announced on 11 March that Bittrex International digital asset trading platform will host the upcoming Initial Exchange Offering (IEO) of RAID’s XRD token.
Bittrex commenced by introducing RAID as an international gaming data blockchain project. The proceeds of the IEO will be leveraged by RAID to develop new innovations that reward gamers for sharing data, promote marketing and develop new business strategies for gaming companies. RAID works on a goal to create an ecosystem where data can be freely exchanged among users.
Bittrex added that registered users will be able to purchase XRD tokens using Bitcoin (BTC) on Bittrex International, the digital asset platform based in Malta. This offering holds the distinction as the first IEO to be hosted on the Bittrex International Platform.
Bill Shihara, CEO of Bittrex cited –
“We are committed to increasing adoption and moving the blockchain revolution forward. The ability for projects like RAID to innovate, advance, and promote the gaming industry on our platform is a game changer for all involved. And not just for RAID and our team. Now our international users have direct access to blockchain projects with the peace of mind that comes from Bittrex International regulated in Malta. We are excited about this IEO and look forward to helping similarly innovative teams connect with users to build their platforms for the future.”
RAID’s co-founder Taesung Kim expressed that the IEO to be hosted on Bittrex International was a tremendous honor. Taesung also conveyed the highly selective process that RAID underwent to promote their IEO on Bittrex International.
Taesung further emphasized that RAID and their core partner OP.GG view the gesture of Bittrex as a “vote of confidence” in the endeavor to enhance gaming lateral. The IEO would be vital to make a more transparent gaming data ecosystem. The IEO would also help realize allied businesses.
Bittrex elaborated on the IEO details. The campaign will kick off on March 15 and new users can sign-up on Bittrex portal. The upper cap is 17 billion XRD, which amounts to approximately 6 million U.S. dollars. The minimum purchase is 30,000 XRD (approximately 10 U.S. dollars) and a 57 million XRD (approximately 20,000 U.S. dollars) maximum purchase limit.
Early this year, Bittrex International had joined a coalition of leading blockchain organizations in support of a transparent reserve and a standard that mints and burns proxy tokens.
Bittrex concluded with the insight that 1 XRD will be offered for 0.00000010 BTC. The number of tokens sold during the IEO, assuming the upper cap is reached, will represent 17% of the total token supply. XRD tokens would be issued by ONERAID PTE. LTD, a Singapore-based Company.