The end of the IEO money-making model, the dozens of times on the line has been the glory of the past.
Editor’s note: This article comes from the strategic cooperation blockchain media “Odaily Planet Daily” (Public ID: o-daily, < a href="https://download.odaily.com/">APP Download)
Author | 昕楠 Editor | Lu Xiaoming
Products | Odaily Planet Daily (ID: o-daily)
The path of the currency security is quietly changing.
The long-established currency-based derivatives platform is finally online. On the evening of September 2, Coin Ann announced the acquisition of JEX, a digital currency derivatives trading platform. JEX will join the currency security ecosystem as Binance JEX, providing users with services including derivatives such as futures contracts and options.
August 28th at 14 o’clock in the afternoon, the currency officially launched the new product coin Anbao, which sold out in less than a minute, and quite a bit of the taste of IEO. This new wealth management business was exposed from official exposure to official announcement, with an interval of less than one week. The Qixing plan, which was announced only a short time ago, was only less than 10 days old.
In the past two months, Coin Security has frequently launched new businesses on its platform.
From the opening of the contract business to the opening of leveraged trading, the Libra as a regional token, and the opening of the wealth management product, Anbao… The currency has begun to incorporate some of the previously unwilling businesses into its strategic layout. In the middle, the business landscape continues to expand.
At the same time, the currency security that has always focused on overseas markets has also been exerted in the domestic market a few days ago, and the domestic users have used the more smooth Binance.net.
People’s evaluation, compared to the currency that was sitting on the head and slightly “cold”, the money’s currency seems to be taking the “people-friendly route”.
After all kinds of actions that are inconsistent with their temperament, Qian’an is trying to cope with an undercurrent stock market stifling.
This time, can the currency still write myths again?
IEO earning money is getting weaker
“The IEO project of the coin security is the same as the ICO of 2018.The bad thing – this is still in the bull market, it is really “impressive.” After the release of Perlin’s new IEO project, Perlin, analyst Alex Krüger issued such a sigh.
On August 25th, Perlin was on the line, and the investors did not wait for the high yields. ICO Analytics data shows that the Perl token PERL has only 1.7 times the ROI of the previous hour.
For investors who are accustomed to opening 5 or even 10 times, Perlin’s gains are like a cold water.
In the year of 2019, the IEO game created by the currency was alive and well, and the BTT was up to 5 times. The transcript that was immediately robbed on the line attracted a lot of exchanges to follow.
If you want to participate in the IEO’s rich story and get the IEO subscription amount, you must hold the platform currency of the exchange. This led to the rise of platform coins, the hot IEO provided application scenarios for platform coins, and the platform coins attracted more real money.
“From the performance of the platform currency in the IEO promotion cycle, BNB is the best linkage.” OK Group senior researcher Deyun Lora analysis believes that BNB is the biggest beneficiary of this IEO boom.
(Data image courtesy: OK Group Senior Researcher Deyun Lora)
2019 Year-to-date, BNB has soared from $5 to a maximum of $39. According to the BNB reversal of the quarterly currency destruction, the profits of Q1 and Q2 in the two quarters were as high as US$78 million and US$1.1919 billion respectively.
The high-yield IEOs are also very demanding on the project side. Today, blockchain technology and applications are still being explored. There are not many good projects that are obvious, and investors are not as enthusiastic as they used to be. As the market weakens, the benefits of IEO are even difficult to fill the loss of platform currency prices during the period.
Only if the average position in the 15 days is greater than or equal to 500 BNB, the user can get the sign (chip) to participate in the IEO shake.
The latest issueThe INB user’s BNB position snapshot starts at 8:00 am on August 9th. The coinmarketcap market data shows that the BNB price stabilized at around $30 on August 9th, and the highest price was $31.17, and between August 9 and August 25 BNB prices fluctuated and by August 25th, BNB prices fell to around $26.
“The full warehouse number is about 100,000 yuan, (IEO income) gives you six or seven hundred yuan, not enough (BNB during the position), what is the meaning of playing new?” an investor said.
Investors also regard IEO as the “dibao” and “welfare” that can be obtained by holding platform coins.
“There are so many people holding positions that are not gambling luck. They are (coming) taking the BNB position benefits that they should have. Now BNB positions are profitable by gambling?” Investors bluntly said, “IEO is low.” It’s not good to eat, stuffing teeth.”
The end of the IEO money-making model allowed investors to finally believe that IEO is unsustainable. It is already a glory in the past, and now the platform currency holders have to bear the risk of fluctuations in the price of the platform while also taking the risk of falling IEO revenue.
IEO does not exist, will the platform currency be attached?
Once the IEO’s myth is shattered, the market value of this wave of platform coins blown by IEO is also faltering.
Some users not only did not win the game, but also watched the price of the currency fall below their psychological expectations. As a result, the market has gradually appeared to bid farewell to BNB, the sound of selling.
When BNB fell to around $25, some investors couldn’t sit still.
Investor joesnow has been investing in BNB since November last year. He told the Odaily Planet Daily that he has thrown most of the BNB since the last IEO (Elrond). After another IEO test, he bluntly said: “BNB is over, you can only get here.”
Another analyst believes that the IEO boom of platform coins has basically come to an end. It is unlikely that the platform currency will double in the future. In the long run, platform currency is a very good investment target, but from the perspective of making money, platform currency has accumulated a lot of money in the currency circle, and the market value is already very high, and the follow-up is weak.
Someone directly commented on the platform currency in the currency microblogging, and some people ran to the microblogging rumors, saying that IEO is ‘destroying users’, it is recommended to suspend: “The currency circle is already the end, no Net access funds, only a little stock of funds in the mutual cut, it is recommended to suspend IEO.”
“The value of platform coins is supported by the heat of the platform.The user will not look at the financial report and profitability of your exchange in detail. The heat is up and then some people actually make money in some activities, and they feel that the platform is sustainable. “An exchange practitioner Luke analyzes.
Sincoin Cocos On-line coin security motherboard breaks also let users see that the coin-brand is no longer a gold sign, and the negative news of KYC identity leak and low investment income of IEO project has amplified pessimism.
If the user ships a lot, the trend of the platform currency will be weaker, and the most fear is that a vicious circle will appear.
Having said that, the market has not seen much new ideas and new growth points. If there is no loss in the short term, IEO will continue to continue. In July, He also revealed that in the next three months, the company will launch at least five IEO projects.
The stock fights, the currency is short-term to push a number of new businesses
“The platform currency has fallen, indicating that the market really has no new funds. At present, the stock funds are in the game.” Some analysts analyzed the current market situation.
When asked about the current trading industry’s survival, exchange practitioner Luke summed it to the Odaily Planet Daily: “The entire market has encountered bottlenecks and the frequency of user transactions has decreased.”
Blockchain Transparency Institute statistics show that the transaction volume of the currency has decreased by 35.63% in the past 30 days, and only 7 of the 39 exchanges listed have a positive growth in the 30-day trading volume.
Site currency and IEO are one of the highlights of the exchange’s profitability since 2019. IEOs are pushing the platform to rise, and the rise in platform coins has lowered the concerns of users participating in IEO.
Today, the exchange is in desperate need of new scenarios to support platform currency prices.
A research report from OK Research Institute has analyzed that there are two ways to increase the value of platform coins – to expand the application scenarios and the richness of rights and other ways to encourage buying; to lock the warehouse, destroy and other means to reduce circulation .
If it is said that on the road to encourage buying, IEO’s driving force is almost exhausted, but the rules of reducing circulation and repurchasing make the platform currency long-term bullish.
But the analysis believes that on the road of reducing circulation, the platform currency has basically peaked, and the way to increase the value of the platform currency needs to be changed from reducing circulation to encouraging buying as soon as possible. The so-called encouragement to buy is to increase the platform currency scene and increase demand.
The IEO’s gameplay was overdone, and the exchanges set off a wave of grabbing contract highlands.
The action of the currency security has also started to increase frequently.
A year ago, He Yi also vowed in the online media Q&A that he would not touch the contract. A year later, Zhao Changpeng was in publicThe company announced that it will soon provide futures contract transactions. In a short period of time, the leverage and wealth management products of the currency are quickly launched.
“There is definitely a bottleneck, otherwise it will not hit your face.” Damon analysts in the circle.
Analyst Deyun believes that the contract market is the battlefield for the new gains of the currency security: “The fee income of the contract is definitely larger than the spot price, and the global market expansion of the currency security is also very good, in terms of globalization. It’s hard to make a particularly strong increase, so simply drop the contract cake.”
“People are ambitious. Even today, everyone feels that the flow of money is very good and there are many users, but the way to make money is reduced. And even if the existing business makes money, it can’t always be a fixed business. OK, stand up and say, I made 50 billion in futures. Who wouldn’t be jealous?”
Almost everyone thinks that the contract is a good business. Instead of giving up the cake, it is better to enter the market.
On July 11th, the company officially launched the margin trading service, which is a leveraged trading business, allowing all traders to borrow up to three times the amount of their guarantee. About 10,000 traders borrowed $15 million on the first day of opening. On July 26th, the coin-operated online block trading function provides over 10 BTC block trades.
In August, the “new” speed of the currency security was faster, and the new speed was unprecedented.
On August 16, Zhao Changpeng revealed that Binance.US is expected to be launched in the next two months; on August 19th, the company announced plans to build a regional version of the Libra “Star” program; on August 26th, it was decided to launch the coin. Restrict digital currency management services; modify the rebate rules on August 27, the invitee can get up to 40% of the transaction rebates.
For the frequent new business on the line, the internal staff of the coin security company said that it is to complete the business line.
There are frequent new business launches for the currency security. Some people have seen the efforts of the currency development to expand new scenarios. Some people speculate on the pain behind these choices:
“The rebate is adjusted to 40%. It can be seen how difficult it is to increase the increment. It seems that the user has lost too much.”
Another way to manage your finances, will the market pay for it?
“Encouraging buy is simply a platform coin that can be done, deducting the handling fee, taking extra optimization is a good scenario, and you can also do mortgage lending of platform coins.” The future is feasible for the way the platform currency continues to hematopoiesis.
The regular wealth management coin Anbao was also introduced in a logical way. This to C business has become a star of the day.
In the rules of the currency Anbao, the coin security assets will be used for the coin-operated leveraged currency business of the currency. According to the coin security product page, the products include BNB 14 days (15% annualized income), USDT 14 days (10% annualized income), ETC 14 days (7% annualized income).
In a nutshell, the currency Anbao is similar to the concept of Yu’ebao, but the annualized income provided is much larger than the balance of only 3%.
But the way of depositing interest rates is not a new business in the currency circle. Similar platforms such as bitfinex, gate, and okex have launched similar lending financial services.
“Now those derivatives that look like bells and whistles are the old way of taking traditional finance.” An exchange practitioner told the Odaily Planet Daily that many exchanges are choosing to do wealth management products after the bottleneck in growth. .
“There is a lack of newcomers in the circle to contribute, and the currency wants to retain users, and at the same time, it can slow down the decline of BNB by using the lockout.” An analyst analyzed the role of the coin, and if the increase is limited, the priority is Find ways to maintain inventory users and stock funds.
But when the platform currency price has not stabilized, can this wealth management product save market sentiment?
The sales situation on the same day was quite optimistic, but users also lamented: “Don’t think about managing money in the currency circle, it doesn’t make sense at all. I feel that the interest rate is quite high, but in fact it may not be enough for a few minutes.
As well, the industry has different views on the regular wealth management product “Cuanbao”.
Analyst Jinma wrote in his analysis article that the previous leveraged currency function has many restrictions. The number of registered borrowing coins is different, and there is often a state in which no currency can be borrowed. It seems that the currency is for the platform currency BNB. There is no promotion, but it makes the currency transaction more complete.
“Lending is a need, the function of borrowing has been completed before the currency security, and now the loan function has been completed. This will take away many users of the loan platform. I think it is a very good function.” Jinma said.
Several people have brought together the hot Defi and the money lending service of the day to discuss whether the business of centralization of the currency will divide the decentralized lending market.
“Defi’s users are basically not coincident with centralized lending users. This centralized asset management business, if not highly regulated, is extremely risky. I don’t know what kind of risk the currency has. Control measures.” In Hong Yining’s view, the currency security Anbao business is more like the C2B2C model, he believes that the currency security does not have enough supervision to endorse; but does not deny the demand for this business. He predicts that this business model will be on fire for a while, and other exchanges will continue to raise interest rates to grab customers.
“If there is no such, is the exchange using customer funds to lend? This is also very good, we can also lend to the exchange.” PayPal is very optimistic about the business of the currency, in Yang Zhou’s view, The currency is transferred inside the exchange, the risk control is internal, and the defi is based on smart contracts, there are also many risks, oneTo a certain extent, it is not as good as the currency of the endorsement of strong credit.
Exchange markets are more or less bottlenecked in markets that are now difficult to spur users. The previous currency security was always a stunning market break.
This time, is it still money?