[Beginner Course] Steemit Crypto Academy Season 3 Week 5 | Initial Dex Offering (IDO)

Good day steemians
I will be writing my assignment on initial Dex offering(IDO) In which professor @wahyunahrul has put all his best to lecture us well and am happy to be Part of his class.

1.Explain in your personal opinion whether IDO should be done on cryptocurrency.

Personally, I believe initial Dex offering (IDO) should be done on any new cryptocurrency whether listed or not, because its an act of fundraising through selling of token for a community to enhance a new project on decentralized exchange to increase the size of participant. initial Dex offering be done on a cryptocurrency to make it know to the public faster and it create more opportunities for both investors and community members, (IDO) enables a new project token to grow in a fast rate.

2). Can IDO have a significant impact on the cryptocurrency world?

My answer will be YES
With my research and with what I have learned from prof @wahyunahrul lecture, It has lots of significant impacts on cryptocurrency world because it allow the size of participant of a particular cryptocurrency increase and make it known to the public faster, the fact that it has no exchange fee will make more companies make use of initial Dex offering for their fundraising.

Explain one example of a token that has been IDO but failed/rug pull.

One of the token that failed is Refinable Native Token also called (FINE), this token was suppose to hold on binance blockchain April 2021 unfortunately this didn't go as expected for the token project and this led to lost of fund for investors and it made them lost trust in it, due to this the project was not able to get maximum fundraising from investor and community members.

4.Make a detailed fundamental analysis of 2 tokens that have done IDO, and compare the two tokens. Then give your opinion on the results of your analysis

DeversiFi

DeversiFi (DVF): DeversiFi is another layer of Ethereum exchange that enables us to make most of Decentralised Finance (DeFi). You can invest, send and swap, without paying Ethereum network fees and its initial Dex offering (IDO) was held July 8the till July 10th

DeversiFi gives best opportunities in decentralized finance (DeFi)and it is very secure users can control their private wallet without paying ethereum gas fee and users have complete privacy in their account.

Efinity

Efinity is an NFT blockchain. Built on Polkadot in partnership along side with Parity Technologies. the network is built for games and applications .
Efinity is built on a cross-chain NFT blockchain. Powered by the deflationary EFI Token, the network is scalable, and built for apps, and games.
Efinity will enable NFTs to be utilized by most industry, unlocking unique real-world digital assets.

EFINITY	DEVERSIFY
Efinity is built on ethereum and polkadot blockchain	DeversiFY is built only on ethereum blockchain
Efinity is easy to use as smartphone	DeversiFY give opportunities on decentralized finance
Efiniy is built for games and apps	DeversiFY has low network fee
EFI is the currency for transactions on the efinity network	DeversiFY is very secure and users have more privacy

My opinion towards the two token project (DeversiFY and Efinity)

Both project are built towards improving the cryptocurrency world and both token have different functions and one good thing about
both cryptocurrencies is that they are built for different purposes which will create room for opportunity for community members to earn more through cryptocurrency.
Finally, both cryptocurrency are really good and their initial Dex offering was successful.

5.Look for 1 token that is currently IDO and explain the steps to be able to participate in the IDO.

Cardence

Cardence Is a multichain decentralized presale platform focused on cardano which creates a trustless fundraising ecosystem,cardence was Launched on indoEX exchange, it started July 20th and it will end August 20th.

steps to participate in cardence (IDO)

STEP ONE: Go to https://international.indoex.io/login

STEP TWO : Register an account with Indoex.

STEP THREE :Go to Ledger then search for USDT and Click on Generate Address.

STEP FOUR : click on deposit USDT/BNB by ERC20 or TRC20 Chain from your personal wallet or exchange.

STEP FIVE :Go to Launchpad ans click on Ongoing then Cardence.

STEP SIX click on buy now

CONCLUSION.

initial Dex offering (IDO) is a new way of raising funds for a new token projects to make the token known to the public, (IDO) is when investors sell tokens in form of fund raising to help a token projects grow with rapid speed,most Token are successful during (IDO) why some are not.
Finally, initial DeX offering (IDO) is very important in the cryptocurrency world it gives investors and community members more opportunities in our world today.