NEX NEO Exchange NEP5 ICO template released - NEO community self-regulates 👍
The NEO Council has just released news that the NEX ICO template has been made available. The NEX ICO template is a standard template which can be used to launch an ICO on the NEO blockchain which has a set of default features. NEX has announced that only ICO's which follow the methods used in the NEX ICO template will be tradeable on the NEX exchange.
The NEX ICO template has three main features. Firstly it offers an automatic refund mechanism in case of rejected transactions. Secondly it enforces KYC verification, and thirdly it includes some parameters that allow for the token to be tradeable (as far as I can tell).
These measures were taken partly after previous problems with ICO's such as Red Pulse and to provide investors a more secure and reliable framework. There is probably also some foresight included as well, aiming at regulatory compliance by way of KYC. I think this is forward thinking of the CoZ team.
Since the NEX exchange will be the first and probably biggest exchange on NEO, it is likely that the majority of NEO ICO's will comply and follow this standard template. In a way it is a very clever move of the CoZ team to self-regulate ahead of governmental regulation.
Click here to read the NEO Council announcement
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awesome
Great news, thanks for the info!
You're welcome!
Hehe, another Neo news coming in. Thanks for the relay.
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Thanks, I had not read about this yet.
Lately, there has been a boom in companies coming out as ICO incubators, offering to do everything to get an ICO up and going. I have a feeling, in 2018, we will see thousands of new ICOs and 95% of them will fail. These new incubators are simply loan sharks taking peoples' money and destroying their dreams.
This one looks better than most of the others I have seen, plus it's backed by NEO, and that means quite a bit, as far as reliability goes.
Is there a list of which coins will be listed on the exchange?