Steemhunt ICE: A Major Steem Milestone

The innovators @steemhunt announced an update regarding the IEO they are holding.

It appears the IEO will take place on 4 different exchanges over the course of a couple weeks. Two of the exchanges are announced with the remaining two coming at a later date. After the IEO, each exchange will carry the token meaning the HUNT token will be instantly be traded on 4 exchanges.

HUNT was one of the first tokens that said it would use the SMT protocol on the Steem blockchain. Since there is a delay in the release of it, the Steemhunt team is moving forward using the ERC20 protocol to raise money for expansion of their application. The goal of the ICE is to raise $1M in USD.

IDCM

South Korea is a cryptocurrency hotbed. For that reason, it is no surprise that the IEO market is big there. Steemhunt decided to kick the funding off on one of the larger exchanges, IDCM (International Digital Currency Markets). This round will take place starting March 14th.

Probit

Probit was the one that got this all started for the Steemhunt initiative. A newer exchange, it received a great deal of funding which spurred on a lot of activity to start.

One unique proposition that Probit offers is that it will accept STEEM as part of the IEO. Therefore, anyone can get involved by using STEEM.

Final Two Exchanges

Announced at a later date.

To me, this is an enormous step for the entire Steem ecosystem.

First, the idea of STEEM being used on Probit to purchase part of the IEO is very exciting. This is another use case for a token that many are earning on a daily basis simply through their participation on the Steem blockchain. Using the applications which, on many occasions, mirror what people are doing for free on the centralized platforms is allowing people to earn some wealth. Now, with this IEO, one can opt to diversify into another holding.

The other major part of this is the fact that the HUNT is another token on the Steem blockchain. It is not the main coin attached to the system. It was a creation by an outside development team that is tied to its application. This is the first of its kind on Steem. We are seeing value now created on top of Steem.

We are going to see the HUNT token priced at $.02 USD on the IEO. Naturally, once the trading goes live, the price can go up or down depending upon supply and demand. Since we cannot predict what markets are going to do, it is nice to have a baseline to work from even if temporary.

Putting a price tag on tokens is very valuable. Many people around the world spent the last year acquiring HUNT either through delegation or activity on the site Many are sitting on a decent amount of HUNT that, until this point, had no value. We are very close to seeing that change.

Outside Reach

The HUNT token is being positioned to reach outside the present Steem ecosystem. This is vital for the growth of both platforms.

With a business model that is centered around promotion of technology products, the HUNT is going to be used as a method of promotion by those companies seeking to target technological minded people. The creation of Reviewhunt and Ideahunt is going to offer companies something different from the traditional advertising mechanisms that dominated the online world the last decade plus.

Since they joined Steem, the Steemhunt team tended to lead the way in innovation. To my knowledge, they were the first to get a large amount of delegation from the community in exchange for app's token. We are also witnessing them take their fundraising to another level by using the IEO process which many are finding successful.

I like they are committed to the Steem ecosystem yet are not waiting around. We are in the stage where the foundation for the industry is being laid. Taking risk and experimenting with different things is what is going to give us the feedback needed to keep growing. This is another step in the process.

There are already a number of our favorite Steem based applications that agreed to follow Steemhunt down this road. While Steemhunt is the first, it is not going to be the last. The team did a great job connecting with other developers who, are equally as committed to Steem, but are interested in expanding their initiatives.

In the end, those who are holding STEEM will benefit. However, do not be quick to cast those HUNT tokens aside. This group has shown itself to be full of ideas to keep lifting their platform to even higher levels.

Who knows...perhaps the HUNT token can be the default for the next generation technical product promotion. The Internet is changing and who will be the leader tomorrow is a tough call.

An innovative team with a plan for big things should not be overlooked.

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