Towards the end of last month, Bitfinex announced that it would be participating in the Initial Exchange Offering game with the launch of Tokinex. This platform allows customers of both Ethfinex and Bitfinex to take part in the IEO taking place on the platform.
Notably, the first project that was going to launch its token sale via Tokinex was Ampleforth [AMPL], a digital-asset protocol for smart commodity-money. Additionally, the platform was funded by well-renowned people and institutions in the cryptocurrency space including Brain Armstrong, True Ventures, and Pantera Capital.
Interestingly, the token sale of the project on June 13 was completed within seconds, making it the fastest token sale to ever take place in the cryptocurrency space. The exchange announced on Twitter,
“We are amazed – despite halving the max cap to widen participation, the @AmpleforthOrg sale on Tokinex sold out in just 11 seconds. Successful participants will receive AMPL directly into their exchange wallets within a few days, and the date for listing will follow. shortly.”
— eloncoin (@eloncoin) June 13, 2019
Despite the exchange claiming that the IEO was completed in 11 seconds, several members of the community expressed their doubts and questioned the authenticity of the IEO. According to some, the IEO was reportedly completed in less than a second, while some like Twitter user, @GoodlyHertitage, stated that the tokens were sold 8 minutes before the sale even began.
Khaled Crypto, a Twitter user, commented,
Contribution bar of $AMPL IEO was already almost full before the opening of sale. Many people saw it and Bitfinex quickly responded with “testing” (Ye right testing 15minutes before the sale opens).
Ones the timer hit zero it was already sold out. Now we know what “testing” was
— Khaled Crypto (@DJKhaledCrypto) June 13, 2019
Vladimir Parkhomenko, another Twitter user, said,
“Not 11 sec, it was then 1 sec […] So all you needed for this ieo was 1000 drops (stolen id’s) for blockpass. At least some captcha would be nice, but who cares”
The post Bitfinex completes first IEO in record breaking time; community calls out platform’s ‘s**tshow’ appeared first on AMBCrypto.