Binance has been a leading force with respect to initial exchange offering (IEO) evidenced by its extraordinary success in raising funds for crypto startupa via its Launchpad. The likes of Gifto, Bread, BitTorent, Fetch.Ai, Celer Network, Elrond, Perlin, Kava, Injective Protocol have successfully met their funding goals via Binance IEO.
My concern, however, is in the performance of its recent IEOs such as thoseof Injective Protocol(INJ) and Axie Infinity (AXS). In the past, investors are often certain of getting almost ×10 of their capital once the token is launched after IEO but these two tokens hardly did ×2 of their IEO price. Does it mean that the Binance Effect is already waning or has weakened?
AXS was sold at $0.1 at IEO price but only breezed to $0.29 briefly while INJ sold at $0.4 managed to hit $1.49 as its brief ATH. These results are unlike Binance's past IEOs which made investors jostle to get in to the launchpad.
Do you think that it the end of Binance IEO has come or the exchange would rediscover its earlier form?
Let me know your opinion.
Binance only allows those projects that fulfills the minimum requirements among the applied projects. After Covid 19 attact, this process basically stopped now. I don't think it is ended but probably applied projects are limited now or the applied projects don't fulfill the minimum requirements. Binance IEO has an impact of that projects hardcap and participants received 2x-5x profits in the past projects. Every member of Binance is expecting to new IEO launchpad soon.