In the blockchain industry, there has never been a lack of vocabulary innovation, from ICO, IEO, to ILO, which has slowly become popular recently. So, what is ILO? How is it different from previous ICOs and IEOs in GIBXSWAP?
In this article, we will give you a brief introduction.
Let’s review what ICO and IEO are. ICO mainly uses mainstream currencies (such as BTC, ETH, etc.) to participate in the early investment of a project. The risk is that the project may abort or run off or the project’s tokens will not be on the trading platform, causing investors to lose money. The IEO, which started to become popular at the beginning of this year, was jointly initiated by the trading platform and the project party. It is a financing method mainly through the platform currency of the trading platform. The main improvement is that the tokens of the project under the ICO model may not necessarily be defects on the GIBXSWAP.
In essence, whether it is ICO or IEO, it is a way of financing.
ILO, the full name is Initial Lock-up Offering, which means to exchange for airdropped coins through lock-up. From this perspective, ILO is not essentially a financing method, but a conditional airdrop method in GIBXSWAP.
Below, we use a simple example to illustrate ILO in detail.
Currently the most popular ILO project is GIBXSWAP.
GIBXSWAP is the best decentralized trading platform on the market, focusing on mainstream cryptocurrencies. The goal of GIBXSWAP is to become the benchmark of the DEX platform. GIBXSWAP hopes to become the leading DEX platform in the token exchange market.
GIBXSWAP is committed to providing real value, fairness and innovation to decentralized finance through high-quality products and services. It is fast and safe, and anyone can exchange and earn tokens.
What makes GIBXSWAP different from other exchange platforms is that it returns the transaction fees to the users in the form of X token. The amount of fee returns depends on the trading pair and percentage of the trading volume. For example, if you decided to exchange 1BNB for USDT and the fee return for that pair is 100%. During this exchange, a transaction fees of 0.3% which is 0.003BNB will be charged. Once the transaction is complete, the system will immediately return the transaction fee in the form of X, according to the percentage of trading volume.
The value of “X” is equal to the trading volume of the GIBXSWAP DEX decentralized exchange. Therefore, the greater the GIBXSWAP transaction volume, the higher the value of “X”! At the same time, token holders can sell “X” at any time to ensure the long-term interests of early participants and GUSDT™️ holders.
So, how to participate in ILO?
Visit the ILO page here
Stake LP
- Choose the farm you want to stake
2. Click “Approve Contract”
3. Click “Stake LP” and enter the number of LPs, then click “Confirm”
4. Confirm the transaction in your wallet
5. Done! You can click “View on BscScan” to view your transaction details
So, how will you receive LP and X rewards?
- Choose the farm you want to claim
2. Click “Claim”
3. Confirm the transaction in your wallet
4. Done! You can click “View on BscScan” to view your transaction details
Other than that, the newly launched GIBXSWAP will also open up liquidity mining, transaction mining, asset cross-chain functions, and the board of directors mechanism will be implemented. The GIBXSWAP board of directors mechanism, staking designated LP and single currency, will be able to disburse “X” according to the proportion of locked position. “X” will have a complete repurchase mechanism. Every quarter, part of the platform profits will be used for repurchasing and airdrop “X”. The repurchased “X” will be directly destroyed, and the repurchase record will be announced as soon as possible. Users can query through the blockchain browser to ensure openness and transparency; the “airdrop” part will be allocated according to the size of each pool, and then distributed according to the proportion of the locked position. In other words, “X” is a deflationary currency. With deflation and high liquidity, you can earn passive income just by holding the currency!
2021 is a hot period for DeFi. Investors have focused their attention on this. Naturally, GIBXChange cannot be missing. The launch of GIBXSWAP came from the consideration that most traders have technical difficulties in participating in DeFi. For this reason, the operation team behind it is constantly adjusting and optimizing, which will bring more high-quality investment experience to investors.