Bitfinex along with the Ethfinex subsidiary announced the launch of the IEO platform, Tokinex.
After much development to ensure a user-optimised experience, we are proud to unveil the latest product in our portfolio, Tokinex, our new Initial Exchange Offering platform.
— Bitfinex (@bitfinex) May 21, 2019
According to Will Harborne, the cofounder of Ethfinex, the launch of the first IEO is expected only a few days after the launch of the platform. Although Ethfinex respons for IEO, Bitfinex users will also be able to directly participate in IEO through their accounts.
“We don’t have trading fees. Instead, we focus on the long term trading volumes,” said Harborne.
With the development of Tokinex, Bitfinex also raised $ 1 billion during the private sale of its own LEO token.
Despite the controversy and public criticism of Bitfinex, Harborne said they decided to move forward with IEO, because any delay would stop the progress of other projects. However, he also stated that Tokinex will adhere to strict self-regulation and self-control, especially while they are under scrutiny by the public in connection with the NYAG lawsuit.
According to Harborne, all projects presented on the new platform will be carefully selected.
“We have to acknowledge that, particularly for us, we are under huge scrutiny, very public scrutiny, and it is inevitable that any IEO we are running on the platform will also be looked at under that same light.”
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