KuCoin Launches Its Second Spotlight IEO: A Review

IEOs are the new Fad. This is not a new concept but so far the current hot trend in the market which most of the exchanges are trying to emulate.

IEOs are almost like ICOs, apart from one crucial aspect. In ICOs, the token purchased will be sent to user wallet by the respective projects once the sales are over. There is no specific time frame. It can happen in a day or maybe months. But in the IEO model, the tokens will be put up for sales by the exchange and all the tokens are distributed to your exchange wallet once the sales are finished. This means investors buy the token directly on an exchange.

The main benefits of IEOs are multiple. In an ICO model, an Exchange listing is never guaranteed. So far, almost 80–90% of ICO projects which was launched in 2018 have not managed to list their token on an exchange. This leads to a massive loss in terms of Investor confidence as well as on ROI as well.

One another significant advantage is that IEOs provide the project with a more trustworthy reputation. No exchange will dare to list a project with a shady background as it will erode the standing of exchange as well ( Bittrex RAID fiasco). This helps to protect an average customer from getting robbed by shady ICO’s like those that happened in the past.

In the past few months, we had seen a couple of IEO’s from leading exchanges with most of the IEO faring in green even after the initial pump. There are some failure stores as well like Veriblock which is performing below the IEO price.

source:news.bitcoin.com

In one of my past article in Hackernoon, I have covered Fetch.Al which was launched by Binance Launchpad. The article received a high readership from the community. Hence I am trying to cover one more IEO which will be launched by Kucoin Spotlight (IEO platform of Kucoin Exchange) Trias (TRY).

Trias (TRY): The next IEO from Kucoin Spotlight.

Based out of Beijing, Trias ( Trustworthy and Reliable Intelligent Autonomous Systems)is trying to build a platform that will be trustworthy, robust and secure, where any system and software implement only expected behaviours. In simple terms, In Trias, any user can root trust into machines with a firm assurance that the machines will only “do what they are told to do”.

As per the Whitepaper,

Trias is building an all platform-supported native-application-compatible smart contract execution platform, development framework and collaborating ecosystem.

The platform is built based on three subsystems, Levaitom(a computational platform which will be used for application execution), Prometh ( framework responsible for identifying the functions and properties of the software) and MagCarta ( the smart contract ecosystem to define dApp consensus strategies.)

Roadmap

To be honest, the roadmap looks like half-baked. But they are maintaining a very active medium official account where progress is updated on a weekly basis. So far, as per the updates, they are showing good progress.

Team

One of the strongest points of Trias project is the team. Trias is lead by co-founders RUAN Anbang and WEI Ming who acts CEO & CTO. The team members are majory fetched from Octa Innovations Ltd, and they bring in a right mix of expertise.

Past Investors

Very less information is provided about the same. As per the website, earlier investors include NGC, DHVC, KOSMOS and Reflexion.

Token Matrix

  • Token Name: Trias (TRY)
  • Total Token Supply: 10,000,000,000 TRY
  • Initial Circulating Supply: 6.24% of Total Token Supply
  • Private Sale Allocation: 0% of the total token supply
  • Seed Sale Allocation: 8% of the total token supply
  • Seed Sale Token Price: 1 TRY = 0.004 USD (Based on total token supply)
  • The price offered in IEO: 1 TRY = 0.005 USD

Token Sales

As per Kucoin Announcement, up to 400 million TRY will be offered to the users at USD 0.005 per TRY. The hard cap is set at $1.6 million and the sale will follow a new lottery format.

Users can obtain lottery tickets from Kucoin, based on various parameters like Trading Volume, KuCoin Bonus, KuCoin V2 APP and KCS Holdings Amount with max seven lottery tickets only be obtained per account.

Each winning ticket will enable us to buy a fixed share of $500 worth of TRY.

A word of Caution

As a retail investor, If you are planning to invest without participating in IEO, be careful with the initial pump. It has been historical noted that the price gets pumped in the first hours, later dropping and cooling down. Be careful not to get in the initial pump and suffer losses. Instead, wait for your chance and enter once the price stabilises.

For more information about Trias, please read:

TriasWhitePaper: https://www.trias.one/whitepaper

Official Website: https://www.trias.one

Telegram:https://t.me/triaslab

Twitter:https://twitter.com/triaslab

Disclaimer: This article is not intended as investment advice. You should always do your own research and invest your capital wisely. I don’t have any vested interest in the IEO, neither will I be rewarded in any way for writing this article.

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