RAID and Bittrex International today announced that the Bittrex International digital asset trading platform would host the upcoming Initial Exchange Offering (IEO) of RAID’s XRD token. The initial exchange offering will be used by RAID, an international gaming data blockchain project, to develop new technologies that reward gamers for sharing data that fosters improvements, marketing and new business development for gaming companies.
Bittrex is a US-based cryptocurrency exchange headquartered in Seattle, Washington. The company was founded in 2013 by Bill Shihara and two business partners, all of whom previously worked as security professionals at Microsoft. The exchange is the thirteenth largest cryptocurrency exchange by daily trading volume, is renowned for the vast number of cryptocurrencies it has listed and has an excellent reputation for its security.
Bill Shihara of Bittrex International quoted:
“We are committed to increasing adoption and moving the blockchain revolution forward. The ability for projects like RAID to innovate, advance, and promote the gaming industry on our platform is a game changer for all involved. And not just for RAID and our team. Now our international users have direct access to blockchain projects with the peace of mind that comes from Bittrex International regulated in Malta. We are excited for this IEO and look forward to helping similarly innovative teams connect with users to build their platforms for the future.”
RAID is a project that aims to have game data circulated transparently by applying blockchain technology. RAID is vitalizing the game data industry with OP.GG, the largest game data company as well as the first partner, by imbuing the improved efficiency into the existing game market. The goal of RAID is to offer users more innovative game experiences by creating new game data businesses that will ultimately result in the positive growth of the entire game industry.
RAID’s co-founder Taesung Kim cited:
“To have our IEO be the first of its kind on Bittrex International is a tremendous honor, considering their reputation and the highly selective process we went through to get here today. We, along with our core partner OP.GG, view this as a vote of confidence in our vision for this project and the gaming industry. This IEO will be crucial to making a more transparent gaming data ecosystem, and the businesses needed to achieve it, a reality.”
The IEO will officially start at 10:00 a.m. KST on Friday, March 15th. Details can be found here.
Authorized users will be able to purchase XRD tokens using Bitcoin (BTC) directly on Bittrex International. The offering marks the first IEO to be hosted on the Bittrex International Platform.
Fully verified Bittrex International users can participate in the RAID IEO beginning at 10:00 a.m. KST on Friday, March 15th. New customers can sign-up at https://international.bittrex.com. The hard cap is 17 billion XRD, which amounts to ~6 million US Dollars. For individual accounts, there is a 30,000 XRD (~10 USD) minimum purchase amount and a 57 million XRD (~20,000 USD) maximum purchase amount. In the IEO, 1 XRD will be offered for 0.00000010 BTC. The amount of tokens sold during the IEO, assuming the hard cap is reached, will represent 17% of the total token supply. ONERAID PTE. LTD, a Singaporean Company, will issue XRD tokens.
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