OK Jumpstart, the initial exchange offering (IEO) platform of leading cryptoasset exchange OKEx, has launched a crowdfunding blockchain platform called Pledgecamp (PLG) on its seventh IEO.

OKEx noted the launch came merely a week after its sixth token sale of Echoin (EC), which opened trading at around 3.5x the listing price it had on OK Jumpstart, at 0.04 USDK. On the cryptocurrency exchange, EC is currently trading at 0.06 USDK.

Pledgecamp is reportedly a “crowdfunding 2.0’ blockchain project,” that’s set to combine a decentralized crowdfunding system with the benefits of blockchain technology. OKEx’s post notes it “launched the crowdfunding industry’s first smart contract escrow system,” which protects investors during the process and rewards them with PLG tokens.

Andy Cheung, OKEx’s head of operations, was quoted as saying:

Pledgecamp is a great project in the way that it connects companies and communities, and shares with everyone in the world an opportunity to become an entrepreneur. Such aspiration deserves a good place in the market.

Cheung added the blockchain space has been “growing at lightning speed,” and as such it’s important for the firm to explore different sectors. The token sale saw OKEx’s users purchase PLG tokens in two subscription sessions using the exchange’s OKB token, with the minimum subscription amount being of 200,000 PLG, each priced at $0.0025.

On social media, OKEx has noted Pledgecamp’s tokens opened trading at 0.005 USDK, at double the price they were sold.

The post adds that OK Jumpstart was launched only five months ago, and has already launched seven projects. Its goal, it says, is to incubate high-quality blockchain projects that are cherrypicked through its COMPASS model.

The model assesses the potential growth of potential projects in  seven major aspects: creativity, operational competence, marketing competence, progress, activeness of community, sustainability, as well as scalability.” The exchange details a total of 105 factors are evaluated.