So how will this work on a decentralized exchange? The project owners will mint millions of tokens and dump them directly to whoever wants to buy it? In an IEO, they centralized exchanges have a screening process but how about IDO? No filtering of would be investors?
I've participated countless IDO there are different styles on IDO. They set up an allotted tokens for the participants and whoever will be pick( mostly lottery basis) can send funds to the smart contract which is designed to reject non accepted participants. Some like doing a fcfs through gas war which the token sale ended when the number of token for sale already filled in.
For me its like an extension of different hype ICO on defi space. But what's good is they keeping the project safe and sound for investors to avoid rugs.