The idea of IMO ECOSYSTEM platform will definitely replace the Initial exchange offering(IEO) the imo system is design in a way that project on presale is already trading higher on the exchange which is profitable than buying an IEO which would end up non profitable. The unlock through referring is also attractive and profitable.
How can you so sure that IMO will definitely replace the IEO idea? Do you think all the IMO plan will succeed? No way! There will be drawback projects too, rather investing in reputed exchange's IEO mean profit confirm. I will stick on IEO, let's see how IMO replace it!
I have checked their website and from the looks of it, I think it has a potential to replace IEO because the idea of IMO is to help the project to get a proper amount of fundraising, from their website you can see the majority of projects have 365 phases of sale. unlike IEO that is only once for all, IMO gives the project a chance to gather the funds from multiple sales. and the investors can not sell or withdraw their token until the end of the sale.