By doing IEO a project can easily raise funds but if they do IEO on exchanges that already have big names, even though they do IEO but on vindax, p2pbp, latoken exchange, it will definitely fail.
Only scam projects have implemented IEO in those exchanges, I've heard lots of complaints about these exchanges. They combine with poor quality projects to steal investors' money. If you want to participate in IEO, just go to the major exchanges in this market and join them