SINGAPORE, Dec. 5, 2019 /PRNewswire/ — Followed by the 2017/2018 ICO craze, IEO becomes a new mania of the cryptocurrency market in 2019, connecting the promising projects and eager investors with the medium of cryptocurrency exchange.
IEO projects have greatly boosted investors’ confidence since there is particular due diligence done by the exchange before listing the projects. Many medium-sized and small exchanges have then quickly followed the trend and launched its own IEO projects due to its incremental user effect. During the IEO hype, many projects launched by medium-sized or small exchanges has broken its initial price greatly due to unwise project inspections and insufficient liquidity preparation, which has devastated investors’ confidence. Recently as more governments start to pay closer attention to the crypto market and decide to start on regulation, many exchanges have temporarily suspended IEO to avoid being blacklisted by the authority.
As a Singapore exchange, CoinTiger now announces to rebrand its IEO services to ‘Rocket’, and LeeeMall as its first project. CoinTiger’s launch of new IEO project at this downturn period is mainly based on the following points:
- Global Distribution of Users: CoinTiger has over 2.8 million valid registered users, of which only 35% users are from China market. The strict regulation in China market did not affected much on CoinTiger’s overall user engagement.
- Strict Asset Audit and Excellent Liquidity Management: Under the tough market, the quality of the asset and the level of liquidity determine the success of an IEO. CoinTiger has been adhering to a strict criteria of IEO projects, and has completed 4 rounds of IEO.
The first CoinTiger Rocket project – LeeeMall, is a borderless e-commerce provider based on cryptocurrency, on which users can easily use tokens for cross-border shopping without being affected by forex limit. LeeeMall recently completed the first round of financing of $2 million and conducted the product open beta in Taiwan. CoinTiger chooses LeeeMall as its first Rocket project is based on the strong confidence in the quality of the project itself and its great flow of liquidity.
In the face of the downturn market condition, CoinTiger launched its Rocket project with great confidence. It is also a very different competing strategy.
More details about the first Rocket Project, please refer to: https://support.cointiger.one/