Bibox Exchange Innovates with IEOs and Launches Orbit Treasure Box Rewards Program
The Bibox exchange is focusing on refining IEOs and providing users new opportunities via fair subscription methods.
Bibox Orbit Treasurebox is a reward mechanism offering a 5% annualized return to those that deposit Bibox Tokens for a month-long locking period. The current deposit period started on April 24 and extends to April 26. The first period to withdraw the funds will be May 20 and meanwhile Bibox Orbit participants will be protected against market volatility as the exchange has committed a USDT fund to match any price discrepancies.
Bibox is the latest to join the initial exchange offering (IEO) trend, after giants like Binance, Huobi and others started debuting their own selection of token-based startups. Bibox sets its unique approach to new projects, with another token debuting this Thursday.
This most recent IEO for the exchange follows previous offers that launched with significant interest and positive response.
Bibox is also one of the more innovative exchanges, already inviting volumes above $798 million in 24 hours as of April 25. The market is growing fast, benefitting from the recent recovery in market prices across the board.
The exchange has set up a lottery system for its IEOs after it turned out exchange-based token sales invited an overwhelming crowd of potential buyers. Bibox Orbit, the exchange’s token sale platform gives a fair change to lottery participants, with the current access rate to three projects reaching approximately 11%. The initial round includes The Force Protocol (FOR), Ludos (LUD) and X-Block (IX).
For the first IEO, the platform gathered 56,000 participants during the subscription period. 50 million FOR were distributed to the program’s subscribers. Bibox adds to the count of IEOs, a new mechanism for mass token sales, where around 30 projects were offered through leading exchanges.
Bibox already lists 183 trading pairs of older digital assets. The new token sales will rely on the BIX digital asset for their most active markets, making the asset extremely important for achieving the IEO program goals. Bibox also offers pairings with USDT for additional liquidity and price-setting.
After the news of the upcoming Bibox Orbit round, BIX trades around $0.34, slightly down from recent price around $0.46. Prices for the newly added tokens are yet to be established, as the start of trading exhibits volatility during the initial price discovery stage. The maximum sum for participating in a Bibox Orbit token sale is the equivalent of $5,000 in BIX.