2Ether wallet launch and more info about the IEO platforms
Good news: we’ve launched 2Ether wallet! It’s a simple wallet that supports our coin ET2, plus ETH and ERC20 tokens. You can use it to receive your free ET2 during the airdrop, store your ether, and more.
Just a reminder: our network launch is scheduled for December 2. On that day, we’ll take a snapshot of the Ethereum network — our system will automatically calculate how many ET2 coins should be sent to each address. The proportion is 1 to 1. If you have ETH 5, you’ll get 5 ET2 and so forth.
Reminder no.2: if your ether is on an exchange and you want to get your ET2, transfer it back into your wallet before the snapshot. After December 2, you can send it back to the exchange.
Some of you have asked us when exactly they should expect to receive their coins. The answer is that we’ll do our best, but there are the physical limitations of the blockchain network to consider. There are many Ethereum addresses out there, so it’s a lot of transactions to process. We’d like to believe that everyone will get their coins on December 2, but it can take a couple more days.
As for our work on 2Ether, last time we told you which elements will constitute our ecosystem. They include a DEX, a smart contract audit service, and an IEO platform. Some of you sent us questions about the IEO part in particular: how can we launch IEO projects without a proper big exchange like Kraken etc.? So here’s the answer — or at least part of the answer, because the whole explanation would be too long for one post.
An IEO just means that you create a new token and sell it on an exchange — that’s why it’s called an initial exchange offering, after all. It’s different from an ICO, because you don’t sell it directly. There’s an exchange involved, and there’s some kind of an evaluation process. The exchange doesn’t list just any token — at least in theory.
In reality, many exchanges will readily do an IEO for a low-quality token as long as the project pays the fee. If the IEO fails to raise money, the exchange won’t refund the fee. So we are back to square one: lots of bad projects have IEOs, and the risk for the investors is just as high as with ICOs.
We’ve decided to change this model. Since we’ll have a DEX in our ecosystem, nothing stops us from listing new tokens. And we’ll have our community to do the evaluation of the project.
If you think you’ve heard it from us before, you are right — in our previous post about 2EtherDEX we described a similar idea. But that applied to listing tokens that have already had their initial sale. Now we are talking a true initial offering — for tokens that have just been issued. So 2Ether will have its own crowdfunding platform.
The main thing distinguishing 2Ether IEOs from those on standard exchanges will be our community due diligence. Next time we will tell you more about it. Meanwhile, remember to follow us on Twitter!
2Ether Wallet —https://wallet.2ether.com/
Web site —https://2ether.com/
Twitter —https://twitter.com/2Ether_
Discord —https://discord.gg/TuqG4py
Facebook —https://www.facebook.com/2Ether/
Reddit —https://www.reddit.com/user/2Ether
Medium —https://medium.com/@2ether
Teletype —https://teletype.in/@2ether
Telegram —https://t.me/ether2support
Telegram chat —https://t.me/blockchain_2ether
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