In 2019 alone, Initial Exchange Offerings (IEOs) which is a platform where digital currency exchanges get listed and then begin advertisement have raked in millions of dollars for blockchain firms, with Binance Launch Pad leading the pack.
It Cost a lot For Projects to Launch
Some firms have reportedly refused to support some coins unless the tokens’ companies pay a large amount of money which ranged from 10% of the company’s equity, including a percentage of the token’s global market cap, to more than $1 million for “marketing” depending on the exchange. Many of these exchanges are in competition with ethereum which is known to play a major role in the creation of new assets.
While giving a statement about Binance, an anonymous source said that:
“Basically they are going after the ERC-20 [token standard],” “They want you to actually issue a Binance token [BNB], on top of the Binance chain instead of an ERC-20, in order to get into the [decentralized exchange business].”
Binance Launchpad is the Most…