The IMO is the first of its kind that the platform is offering.
MDEX First-Ever IMO
MDEX, the HECO-based platform that recently went multichain with the implementation of Binance Smart Chain (BSC), has just announced its first-ever blockbuster IMO for Coinwind, a multichain DeFi platform adopting a fair approach to the fundraising event for participating individuals. The Initial MDEX Offering (IMO) of CoinWind will be the first-ever for the MDEX Tech. IMO is one of several features that the multichain AMM and DEX platform offers, and is set to debut this week.
The event is scheduled to be held tomorrow, the 25th of May. The event will be open to MDEX platform users and its LPs, with the following allocations:
Total Supply of COW on the MDEX platform – 3 million
MDEX (Heco) MDX has a single token allocation of 750,000 COW
MDX-HT LP has an allocation of 750,000 COW
MDEX (BSC) MDX has a single token allocation of 750,000 COW
MDX-BNB LP has an allocation of 750,000 COW.
CoinWind IMO Process
The CoinWind IMO event scheduled to hold on MDEX has been listed with a guide available on the MDEX Medium blog. The IMO is based on MDEX’s decentralized initial online exchange mechanism.
IMO V1 will implement the basic open swap function (excess type) to provide sufficient liquidity for the project while allowing fair participation of users.
All MDEX users can participate in the public swap function (a simple connection to the platform and swap process). The application for the swap shares will be allowed within the specified time according to the asset swap rules and swap time established by the project party of this round of fundraising.
The token will be allocated according to the swap ratio after the swap is over. The funds remaining after deduction of the swap quota will be reverted to the original address.
Users can make use of the MDX token or MDEX platform LPs to participate in the exchange.
About CoinWind
CoinWind is a multichain DeFi ecological revenue optimal platform supporting both HECO and BSC networks. The platform, which has a Total Value Lock (TVL) of more than $1.7 billion across both chains, has yielded for its users $91 million at the time of this report.
CoinWind makes history as it becomes the first project to use the MDEX IMO fundraising platform, scheduled to hold tomorrow, the 25th of May. The event will see CoinWind releasing 3,000 000 COW Token, its native platform token to both MDEX Single asset users and its Liquidity Providers (LPs) across MDEX, HECO, and BSC.
About MDEX
MDEX is the most valuable and popular HECO based multichain integrating other chains, including BSC and Ethereum chain. The platform, which recently overtook BurgerSwap and PancakeSwap ranking in terms of daily volume, is determined in its growth to release more valuable features to its increasing users.
IMO (Initial MDEX Offering) is one of the MDEX platform features that has attracted users. Other features include transaction mining which offers rewards to users for transacting on the platform, and a dual mining mechanism of liquidity and transactions.
Source : bsc.news
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