Steemit Crypto Academy Contest Season 5 Week 5 - Initial Coin Offering in the Crypto Ecosystem

Introduction

We welcome you to week 5 of season 5 of the Steemit Engagement Challenge. We have a longer time to remain together in the Academy this season and we do hope you will share more of your knowledge about the crypto ecosystem with the audience, thereby educating them.

Initial Coin Offering (ICO) in the Crypto Ecosystem

Cryptocurrency has become a very important digital currency that crawled into the financial realm over the last few years and has remained relevant and lucrative such that it has become a financial asset that traders can take as a full-time job or utilize to generate extra income. This type of digital asset can be traded through the buy and sell method to generate incomes.

Trading cryptocurrency requires being listed on an exchange which could be on a Centralized exchange (CEX) or Decentralized exchange (DEX) and so on. Listing these assets makes them available for trading for the public where buying and selling can be done to maximize profits. Even though trading crypto is risky and a trader must get his/her method right before making an entry into any market.

That said, tokens can be available for purchase even before they get listed on a notable exchange, at this point they are not really crypto assets yet. The process of this kind of sale can be through an event known as Initial Coin Offering (ICO) with a few purposes like raising funds for the project for the full deployment of the asset on the blockchain and so on. We want to hear your understanding of the context today.

What is Expected in the Contest?

• Share in detail your understanding of the Initial Coin Offering (ICO) and the purpose of the event in the crypto ecosystem.

• Discuss your understanding of the Initial Exchange Offering (IEO) and Initial DEX Offering (IDO). What platform is utilized for IEO? Give an example of a platform and how it works for the coin offering.

• Have you participated in ICO/IEO/IDO before? If yes, what's your experience? Discuss a project that has performed a successful ICO before and the result of the event.

• What are the merits and demerits of Initial Coin Offering?

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, November 7th, 2022, 00:00 UTC to Sunday, November 13th, 2022, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S5W5 - Initial Coin Offering in the Crypto Ecosystem. Add the tag #cryptoacademy-s5w5 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

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Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

In conclusion, it's a pleasure continuing with you in season 5 and we are sure you have something to say about the initial coin offering whether you have firsthand experience or not, everyone would have something to say about it. We urge you to stay original and give in-depth responses to the expectations of the contest. Good luck.