IEO Platform Tokinex Retools as Bitfinex Token Sales, Launches Kim Dotcom's K.IM Token

Michael LaVere
  • Bitfinex re-tooling IEO platform Tokinex to Bitfinex Token Sales and providing an incentive for users to hold LEO.
  • Platform will launch internet entrepreneur Kim Dotcom's K.IM as its inaugeral token.

Bitfinex has announced a reorganization of its token sale platform that will include a re-tooling of Tokinex as Bitfinex Token Sales, in addition to the inaugural launch of internet entrepreneur Kim Dotcom's token K.IM.

Bitfinex Token Sales

According to a press release shared with CryptoGlobe, the popular cryptocurrency exchange is launching Bitfinex Token Sales as a new platform for the primary issuance, development and launch of digital assets.

The release claims that crypto project teams will have access to new development resources and senior talent acquisition through the platform, in addition to real-world adoption ahead of their coin listing. 

Paolo Ardoino, CTO at Bitfinex, explaiend the transition,

Most IEO’s are marketing campaigns that focus on achieving a short-term result, but that’s not how real businesses are built. Successful businesses are built through long-term, sustainable growth.

He continued, 

I think some crypto projects are too focused on short-term results and this can harm a project's long-term prospects. We learned a lot from observing the performance of IEO’s over time and across different platforms as well. Those observations inspired us to take a step back and re-tool our own approach and technology, which we’re incredibly excited to share with the world today.

Kim Dotcom Launching K.IM

The inaugeral project set for launch on Bitfinex Token Sales will be K.IM, a P2P digital content and monetization network evangelized by internet entreprenuer Kim Dotcom. According to the report, K.IM has raised $2.5 million in funding for the new blockchain project, including an investment from Max Keiser

Kim Dotcom called Bitfinex the "perfect" partner for the new token launch which still doesn't have a determined date

We can finally create our KIM token on top of Bitcoin thanks to recent technical breakthroughs like Lightning and Liquid. Bitfinex is the perfect partner to help us distribute KIM tokens, built on Bitcoin, to those who want to access the freedoms that our products provide.

In addition to re-tooling the platform, the launch of Bitfinex Token Sales will coincide with a bigger role for Bitfinex’s native token UNUS SED LEO, which will now be involved in future token sales as an incentive for LEO holders to recieve higher allocations.

Featured Image Credit: Photo via Pixabay.com