Yesterday, April 9, 2019, the first round of the tokensale of Gate.io native coin GT (Gatechain Token) was held. This is a classic IEO, which no longer surprise anyone. The platform for the new crypto is lagging behind in popularity from the Binance Launchpad, but already on the first day of sales, demand exceeded supply by 19 times.
As they say, the first chick lands with a thud. This is not about this tokensale. The organizers showed a very rational approach to the organization of sales. There are no “early bird” principles and/or tricky lotteries. Everyone who participated in the initial exchange offer (IEO) received the coins. However, users got less quantity then desired, but this is the whole point of the idea.
After the platform received purchase orders, it distributed the tokens according to the size of the request, but in an 1:19 ratio. Why is that? Because the demand exceeded the supply by so many times. If demand is lower, or, conversely, higher, the proportion will change in next subrounds.
Maybe someone was offended, but sales will take 7 days, which means you can easily fill your wallet with the tokens. We believe Gate.io uses correct approach to IEO. Will this platform be able to dislodge the glorified Launchpad from the market?