Bitfinex has announced the relaunch of its Initial Exchange Offering (IEO) platform Tokinex as Bitfinex Token Sales and will offer the token of P2P digital content and monetization blockchain K.IM on October 22.
K.IM, the Kim DotCom thinggy is a Bitcoin-integrated token
Per the release, K.IM has raised $2.5 million in funding from BnkToTheFuture, Bitcoin Capital and Max Keiser. The platform will go live by Q3 2020 along the listing on Bitfinex, acording to it’s roadmap.
Entrepreneur, digital rights activist and founder of now-defunct file-sharing website Megaupload, Kim Dotcom, commented on the development:
“Combining the internet with Bitcoin gives us a real chance of achieving the original promise of the internet; freedom of speech, commerce and finance. […] I founded K.im to allow artists, content creators and digital businesses to cut out all the middlemen and sell content and digital goods without censorship and outside of monopolies.”
According to Dotcom, the Bitcoin blockchain has been able to scale so far and can now support a slew of new possibilities.
“We can finally create our KIM token on top of Bitcoin thanks to recent technical breakthroughs like Lightning and Liquid. Bitfinex is the perfect partner to help us distribute KIM tokens, built on Bitcoin, to those who want to access the freedoms that our products provide,” Dotcom explained.
The exchange courts LEO holders
The exchange says that the renewed platform will have “direct integrations with the Bitfinex exchange”. The company’s CTO, Paolo Ardoino commented on the current platform landscape:
“Most IEO’s are marketing campaigns that focus on achieving a short-term result, but that’s not how real businesses are built. Successful businesses are built through long-term, sustainable growth.”Expressed Bitfinex on their release.
Bitfinex also announced that its native utility token, Unus Sed Leo (LEO); will be part of all future token sales. The token holders will have access to higher allocations than those participating with other digital assets.
The United States-based cryptocurrency exchange Coinbase it is also considering the launch of an IEO platform.