ChainEX has announced that they have partnered with MenaPay for their first Initial Exchange Offering (IEO) and is selling MPay tokens from the 15th of March, till the 15th of May 2019. ChainEX is the first African exchange and amongst the first exchanges in the world, to have launched an IEO platform.
One of the new fundraising approaches to crypto-banking is the IEO. It has caught the attention of ICO projects, fund raisers and traders all around the globe. An Initial Exchange Offering allows an investor to buy the tokens launched through the IEO on a crypto exchange. The exchange is basically acting as the intermediary between the startups and contributors.
According to ChainEX, they are extremely excited to conduct the IEO for MenaPay as it is one of the most anticipated IEOs of the year. MPay tokens will be sold on ChainEX for $0.165 USD with a 20% bonus for the first 1 000 000 tokens sold and a 10% bonus for the second 1 000 000 tokens sold. The token holders will be able to benefit from both the token’s increasing worth in the market place and the buy-back mechanism. Although IEOs are a new phenomenon, there is no doubt that it will continue to grow and make cryptocurrencies and exchanges even more appealing to a wider market!
About MenaPay: MenaPay replaces traditional payment systems with a blockchain based, fully backed cryptocurrency and provides a secure and transparent payment gateway to enable P2P transactions in every aspect of daily life.