Initial Exchange Offering [IEO]
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Categories: Cryptocurrency
Synonyms:
ICO as a service
An initial exchange offering (IEO) – or ICO as a service (IaaS) – is a process in which cryptocurrencies are sold via a crypto exchange: The exchange takes the position of the issuing project in the offering process and after the project has provided the newly mined cryptocurrencies to the exchange, the exchange collects funds (e.g. Ether , Bitcoin, Fiat money etc.) from contributors and allots the newly mined coins or tokens to the contributors.
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