Steemhunt Announces IEO: Opportunity For Steemians

@steemhunt announced they are starting the process of being listed on Daybit. The first step is an Initial Exchange Offering. This will create the Hunt token which will be on Daybit along with, possibly, some other exchanges.

There are a number of other tokens associated with Steem applications that are going to be following this path also. Please bear in mind this is NOT the Smart Media Token protocol. This is being done while waiting for that to be developed. The ERC20 protocol is being used.

What Is An IEO?

An Initial Exchange Offering is similar to an ICO except that it is done through an exchange as opposed to going through a website. The advantage to this option is it speeds things up since all transacting is done on an established exchange. At the same time, KYC and other regulations are already taken care of since people already go through that process when signing up on the exchange.

The IEO will take place in 3 stages in March. It will kick off the second week in March and proceed the ensuring two weeks. There is a total of $1M being raised with coins going for $.02 apiece.

10% Bonus For All Steemians

Steemians are going to be rewarded for their participation.

For three days, there is the opportunity to get a 10% bonus on top of all coins that one commits to buying. This is a pre-sale that will benefit those who are already on Steem. This starts today and carries on for the next couple days.

The full details along with other information can be found in the @steemhunt post.

https://steempeak.com/steemhunt/@steemhunt/hunt-token-ieo-and-listing-via-exchanges-will-begin-10-bonus-chance-for-steemians

Since they joined the Steem ecosystem, the Steemhunt team showed themselves to be forward thinking. They amassed one of the largest delegations from the community by offering out tokens for delegations. Now they are going to be the first Steem based token that is listed on an exchange (outside STEEM). In addition, a number of other projects such as Dlike, Actifit, and eSteem also are following suit. Over the next couple months, we should see them having IEOs of their own.

Steemhunt has a business model that could well appeal to producers of technical products. It is already creating a built in market for these new innovations. Through the platform, companies will have the opportunity to pay for promotion to the community. At the same time, many could be converted to buyers with some incentive. Fortunately, the Hunt token will operate as that incentive piece. Hunters can earn through their activities on Steemhunt and use the coins to buy/invest in products that interest them.

Having a trading coin provides a major shot in the arm. This makes it a lot more appealing to those who are outside the ecosystem. Steem is comprised, mostly, of HODLers at this point. The mainstream does not think like that. By offering up a token that can be converted will make their appeal that much greater.

Once again, we see a Steem based application that offers people the opportunity to earn money for doing something they were doing somewhere else for free. This is the basis of crypto-economics which also, as we are seeing, could have commercial appeal to other companies.

I am very interested to see how the reach of Steemhunt expands over the next 45 days because of this move.

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Image from the post linked in article.