Volum has officially launched their highly anticipated Initial Exchange Offering (IEO), partnering up with the esteemed LAToken cryptocurrency exchange. The exchange will be selling the VLM tokens as of 17 May 2019, with discounts of 20%.
The token sale will take place over five weeks, running from a Private Sale to Public Sale, as illustrated on the Volum website and below. The IEO is capped at 236,800,000 tokens, with the sale ending on 17 June.
LAToken’s registered users will be given exclusive access to token sales as of 17 May, commencing phase 1 of the Pre-Sale event. With prices starting at a 20% discount of $0.28, they will increase gradually each week, ending at $0.35 per token.
IEOs differ from traditional ICOs in that they are done in partnership with an exchange, with the exchange facilitating the token sale as opposed to the start up. This allows the fundraising exercise to bypass several bans and restrictions placed on ICOs and guarantees that the token will be listed on the exchange post sale (increasing liquidity).
For more information, visit volum.io.