Digital asset exchange Gate.io’s IEO platform, Startup, has successfully carried out eight token sales in April so far. The projects have raised over $165 million. FileStar (STAR), Findora (FRA), Totem (TOTM), Lepricon (L3P), Boson Protocol (BOSON), Umbrella Network (UMB), Raze Network (RAZE), and Disbalancer (DDOS) were considerably oversubscribed. The token sale generated $165 millionin funds (combined).
“Every single project that we list on our Gate.io platform is backed by solid fundamentals and is carefully researched by our team. This is the reason why a vast majority of the projects are significantly oversubscribed. Projects such as TotemFi, Cook (COOK), and Yield Protocol (YIELD) that had previously raised funds on Gate.io Startup have experienced exponential returns as well,” said Marie Tatibouet, CMO at Gate.io.
TotemFi (TOTM) recorded a 45900% ROI, while Cook (COOK) and Yield Protocol (YIELD) recorded 3947.5% and 3688% ROI, respectively.
According to the exchange, some of these projects’ huge demand has had a hand-in-glove effect on their native token, GateToken(GT). In 2021, GT’s price has soared more than 700%. GT price stands at $ 3.84 at the time of writing.
Closer Look At The Projects
FileStar’s IEO was oversubscribed by 125.55% and raised 2,511,050 USDT. The project is working on building a distributed storage, computing, and bandwidth incentive network based on the IPFS protocol.
Findora, the zero-knowledge-based privacy protection public blockchain, raised 28,329,250 USDT and was oversubscribed by 56,601.90%. Totem, a tokenized prediction platform, raised 20,594,040 USDT with an oversubscription of 102.970.20%.
Lepricon, a governed prediction games platform, raised 20,610,540 USDT, with an oversubscription of 54,961.44%. Boson Protocol, a project that combines NFTs and game theory to automate digital rights’ redemption for physical assets, raised 23,865,280 USDT and got oversubscribed by 119,326.40%.
The decentralized oracle service provider, Umbrella Network, raised 18,783,400 USDT and oversubscribed by 75,133.60%. The Substrate-based cross-chain privacy protocol, Raze Network raised 23,788,680 USDT and oversubscribed by 23,788.68%. Finally, Disbalancer, an innovative solution to make websites resistant to DDoS attacks, raised 5,799,500 USDT and oversubscribed by nearly 25,800%.
Startup Performance Metric
Cryptorank ranked the average IEO returns by exchange platforms by calculating the Average All-Time High (ATH) ROI of 151 analyzed projects. Gate.io finished in the top 2 for the past three years with an ROI of 6,841.59%, outperforming the likes of KuCoin (2,906%) and Huobi Global (1,901.86%). Plus, CoinMarketCap has also ranked Gate.io as the 8th largest exchange globally with a liquidity score of 401 and over 565 coins listed.
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