- TeraBlock is launching an IDO on BSCPad.
- The platform has scheduled the IDO for May 11, 2021.
- So far, TeraBlock has already raised $2.4 million from lending investors.
TeraBlock is getting ready for an Initial DEX Offering (IDO) on BSCPad. The IDO is scheduled for May 11, 2021 and was preceded by a successful funding round that raised $2.4 million.
To clarify, TeraBlock previously closed a lending round that raised over $2 million toward the platform’s development. However, the BSCPad IDO is the first time retail investors will be able to buy TeraBlock’s BEP-20 token on a decentralized exchange (DEX).
However, the BEP-20 token only constitutes about 18.5% of TeraBlock’s 400 million total token supply. Currently, TeraBlock users can hold the platform’s native token TBC which they can use to pay for transaction fees on the platform. Of note, TBC also grants users holding 100% of their assets in TBC a fee discount.
Notably, blockchains often use IDOs as a means to raise funds to develop specific projects. What makes IDOs particularly popular is the hope that once the project is complete the coins will either appreciate in value or have practical use on the blockchain or platform.
In fact, TeraBlock is currently developing an exciting trading platform that will utilize Machine Learning. Also, the platform will use an automated trading algorithm developed by TeraBlock Founder Shivam Tandon. TeraBlock expects that the algorithm will simplify crypto trading and become a newbie-friendly crypto on-ramp for inexperienced traders.
Of note, BSCPad was the first DEX on the Binance Smart Chain network. Of note, TeraBlock will utilize Binance’s Cloud for storage and security. Binance’s SAFU Funds will also provide insurance for TeraBlock.