Raze Network Announced IDO Offering, Which Is Having a Native Token Called $RAZE

Sieeka Khan, Tech Times 11 April 2021, 02:04 pm

In a recent blog post, Raze Network, the first Polkadot-based cross-chain privacy protocol, announced the launch of its native token called $RAZE.

The token launch will be on the Balancer Liquidity Bootstrapping pool, and Raze Network is currently bracing up for the Initial DEX offering on leading decentralized platforms. This includes Poolz, Bounce, and DuckStarter.

Raze Network's token

The Initial DEX offering or the IDO sale is primarily focused on providing opportunities to the early supporters of the project to access $RAZE before the official launch, according to CoinTelegraph.

With the launch of $RAZE, the project aims to strengthen the decentralized financial landscape's privacy infrastructure.

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According to the project lead and CEO of Raze Network, Justin Kellison, it is becoming a pivotal cross-chain privacy protocol. It is addressing the prevalent privacy concerns is a significant part of Raze Network's growth strategy.

Moreover, it aims to create a strong footprint as a leading privacy service provider by reinforcing aspects of complete anonymity.

Kellison stated that Raze Network is building a cross-chain privacy gateway for the entire DeFi and Web 3.0. He added that he believes that Raze Network can be the seamless and frictionless privacy infrastructure to keep the DApps private.

Raze is the first Polkadot-based cross-chain privacy protocol that provides end-to-end anonymity for the DeFi stack.

Also, it makes this possible by adding zk-SNARKs to the Zether framework. Therefore, creating a second-layer decentralized anonymous module.

Raze's IDO on Bounce, Poolz, and DuckStarter

Raze Network will be allocating 960,000 $RAZE tokens for the public distribution sale through IDO platforms. The IDO will officially begin on Apr. 12 on all of the platforms at a token launch price of $0.25.

According to Decrypt, bounce, Poolz, and DuckStarter are leading decentralized token auction platforms and launchpad allowing projects to raise capital in a decentralized manner.

However, only those users will be eligible to participate in the IDO who have successfully concluded the Whitelisting and KYC processes for the IDO platforms.

Currently, the Raze Network's Genesis Round is in process. After the conclusion of the IDO, the project will run onboard on a Balancer Liquidity Bootstrapping pool. Moreover, this will be followed by Uniswap listing and various listings on centralized exchanges.

The project's very comprehensive and detailed strategy to create $RAZE accessible advocates creating privacy awareness in the dynamic DeFi space.

With diverse platforms, the project aims to reduce the potential risks of the token launch and prevent the community from malicious attacks.

Previously, Raze Network announced the successful conclusion of seed and private funding rounds. It attracted participation from prominent blockchain and crypto VC firms, including OKEx Block Dream Fund, AU21 Capital, CMS Holdings, Master Ventures, X21, PNYX Ventures, Tenzor Capital, Moonwhale Ventures, Signum Capital, Spark Ventures, and others.

With an 88x oversubscription on seed and private funding rounds, the future of the token launch seems massive.

What is the Polkadot system

Polkadot is a blockchain protocol that enables different blockchains to run independently within one network, and a shared security system protects it.

Polkadot was founded by Gavin Wood, the co-founder and the former CTO of Ethereum, and the genesis block of Polkadot was launched in May 2020.