The IDO season is not over yet. The past few months we have witnessed busy days as the crypto community was burdened with filling whitelisting forms and participating in community initiatives of upcoming IDO projects. The current state remains the same. This new DeFi energy project, IOEN, is fully invested in making a big splash as it gears up for its upcoming IDO. IOEN is bringing an innovative approach to incentivise the creation of ‘virtual microgrids’ worldwide which will promote the efficient distribution of energy. IOEN will be launching on two platforms in October as part of its IDO launch.
Double Launch For IOEN In October
The first of these launches is a TrustSwap IDO slated to begin on the 8th of October. Trustswap is a decentralized protocol that aims to empower users in making ‘customizable transactions’ both in DeFi and in the cryptocurrency sphere as a whole.
Although it is primarily geared towards enabling smart contract adoption, it also has a native launchpad that has launched 27 projects so far according to its website. Despite the fact that most of the projects listed are by no means crypto household names, they still seem to have seen relatively decent growth on the launchpad with one project called ‘Chain Games’ having grown by 10,200% to an all-time high of $1.03 per coin. Although it has since dropped to a lower price of $0.1478, it is still almost fourteen times higher than its initial $0.01 price.
Along with the launch on TrustSwap, there will also be a separate launch on TrustPad, a distinct platform, and a dedicated launchpad for DeFi projects. TrustPad has completed 28 launches so far and has three on the way in the coming week, an admirable number for relatively new projects. The IOEN Initial DEX Offering will be the next day the listing is yet to be announced.
The project will be running its whitelisting processes and token holders must comply with the KYC anti-money laundering measures as a mandate to participate.
Bringing an Energy-Utility Idea in the Blockchain Space
IOEN stands for Internet of Energy Network and is a not-for-profit platform geared towards promoting the efficient distribution of renewable energy by using smart contract technology on Holochain. It is made by the creators of RedGrid, a clean energy technology company that aims at saving energy by automating household devices to use power when the power grid is best suited for it, rewarding users with IOEN tokens for helping stabilise the grid.
So far IOEN has seen investments from a number of significant VC’s including SL2 Capital, Skyman Ventures, AU21 Capital, Holochain, Maven Capital and notable others. IOEN has over 16,000 followers on Twitter alone and growing. The project is currently accelerating its community initiatives and released study materials including The Internet of Energy Network Currency Paper in the public domain for members to review and learn.
The project is driving a community-centric mission with a dire motive to revamp the current modern financial landscape to an energy-friendly one, reinforcing the aspects of sustainability, thus preserving it for the future.