CEO of Binance on Launchpad and IEO: "We encourage others to copy our model"

Binance's Managing Director, Changpeng Zhao, revealed his ideas and opinions on initial exchange offers (IEO) in an interview with Bloomberg. CZ knows the subject well after the resounding success of his own IEO, the Binance Launchpad.

Token platforms have quickly become a popular commodity with various large companies and stock exchanges setting up their own versions. CZ does not see this as a competition, but his vision seems to be purer and inspired by the community. He said:

"The goal here is to help good projects. There are no specific goals on how quickly we need to grow or expand. We will simply help the good projects to raise funds as we find them. "

Binance certainly helped the chips listed on the Launchpad. The sales were a resounding success, with broken records and many alternative parts energized on the market.

Since the beginning of the year, Binance Launchpad has made three token sales so far for promising startups such as: Celer Network (around USD 4 million in BNB), Fetch (USD 6 million in BNB) and BitTorrent ( USD 7 million in BNB and TRX). .

Although it may not accept the term used for Binance Launchpad, CZ, considers the IEO as the future of fundraising in the blockchain community. He talked about the future of such projects and said:

"ICOs have disadvantages, that is, too many scams and" empty "projects. But blockchain fundraising has many advantages over traditional venture capital fundraising. It's not going away … I think it's going to get pretty big, certainly way bigger than the CR industry in the future. "

On the various exchanges that followed the trend of OIEs, such as Huobi Prime and others, CZ said: "We do not consider them as competition. The other exchanges that copy us are a strong validation of our model and the highest form of compliment. In fact, he seemed to suggest that it was a good thing and one thing he encouraged:

"More importantly, our bandwidth is limited and we can only find / help a small number of all the good projects on the market … as the industry grows, everyone benefits. That's why we encourage others to copy our model, "he added." It's all about helping the best entrepreneurs and developing the industry. "