Lets try that again: Bittrex announce first IEO after failed attempt

27 Mar, 2019
Lets try that again: Bittrex announce first IEO after failed attempt

Bittrex are back at it, and have announced their first project to launch an Initial Coin Offering (ICO) on their exchange following the cancellation of the RAID Initial Exchange Offering (IEO) earlier this month. 

Bittrex announced that their latest attempt at an IEO is set. VeriBlock (VBK) will be the first IEO to take place on Bittrex following the cancelled RAID IEO earlier this month. 

Bittrex cancelled the RAID IEO earlier this month with a statement saying "We decided to cancel the IEO as a result of significant changes in the business status of RAID. Specifically, a few hours ago, OP.GG terminated its strategic partnership with RAID, which was a vital part of the RAID project.  When Bittrex International became aware of this significant event, we did not feel that it was in the best interest of our customers to move forward with the IEO."

VeriBlock has now become the latest project to launch on Bittrex and is set to take place on April 2, 16:00 UTC

VBK is explained by Bittrex as a "Proof-of-Proof consensus protocol that allow any blockchain to inherit Bitcoin’s unprecedented thermodynamic Proof-of-Work security in an entirely Decentralized, Trustless, Transparent, and Permissionless (“DTTP”) manner."

Currently VeriBlock includes Bittrex CEO Bill Shihara, Bloq Co-founder Matthew Roszak, Ethereum Co-Founder Anthony Di Iorio, and Fenbushu Capital General Partner Bo Shen as all strategic investors in the project. 

The token sale will see 70 million VBK for sale at a rate of $0.10 per one VBK. Totalling the IEO on Bittrex at $7 million. Bittrex International participants can purchase a minimum of $20 up to $20,0000 during the IEO. 

Read more: Bittrex issues statement on cancelled Initial Exchange Offering (IEO)

Perhaps this time Bittrex can successfully launch their first IEO without any hitches. 

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Read more about: Bittrex

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