Today is another first for the Steem ecosystem.
Steem's #5 rated DApp and #12 overall, according to the State of the Dapps site, is putting on a ISO using Steem-Engine. This will be the first fundraiser of this kind that took place "in-house".
The event kicks off at 13:00 GMT today and will go until 13:00 on Sunday. It is a 48 hour window to take advantage of this opportunity.
This is part of a series of IEOs that Actifit is going to be having. They are also having one on a Korean exchange in the next couple months. There are a couple of differences with this one.
The price is being discounted to $.024 versus $.036. This is a significant savings that Steemians can enjoy.
Also, Steem-Engine also agreed to provide ENG tokens for anyone who is placing an order of $100 or more. The value on them is roughly $10 at this time.
Thus, one receives discounted AFIT tokens along with ENG for participating in the ISO as opposed to waiting for the IEO.
Of course, being an ISO means that STEEM is the accepted mode of payment. This is an example of the community deciding to utilize our token for commercial purposes.
All the details can be read here.
There are a number of additional bonuses being paid out for being early birds in the ordering process. According to another post, there were a number of early bids put in. People are obviously lining up to participate.
This is a wonderful step for the Steem ecosystem. Ethereum was able to garner a great deal of attention in the ICO craze a couple years ago. That frenzy really put it on the map. It also drove the value of the token up.
By having similar capability on Steem, we can replicate that success. We know the ICO approach is slowed especially with the regulators watching. This is leading to the use of IEOs as a means of funding projects. This is a better approach in my opinion because exchanges tend to be a bit picker (since their name is also on the line) while a project needs something in working order. In other words, the standard is a bit higher.
Actifit is paving the way. A successful IEO on Steem can be leveraged to the ensuing ones they do on other exchanges. People prefer to get involved with projects that are successful. The next few days could be a great step in the evolution of Steem.
We also could see this aid in putting Steem Engine on the map. The team behind that project is working to create an exchange that is Steem based yet garners a great deal of attention outside of this ecosystem. If we can show a successful debut with the IEO, we might see other projects outside of Steem, follow suit.
The possibilities are growing.
I wish the entire Actifit team success with their venture the next two days. They developed a great application and I am glad they are part of the Steem eocsystem.
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