Every day dozens of new tokens are announced. We go through them all to find the cream of the crop – giving you the scoop on top ICOs before anyone else.
After analyzing 19 token announcements, we’re picking NEX as our ICO of the Day.
Premise
NEX is the native token of Neon Exchange, a decentralized exchange built on the NEO platform. Whereas Ethereum has Etherdelta, NEO as of yet has not had its own native, decentralized exchange platform.
This is significant because NEO has already had ICOs, and is gaining traction and will have many more upcoming ICOs on its blockchain in 2018. With NEX, the tokens these ICOs issue can be traded peer-to-peer. That means soon, every NEO token will be tradable on NEX, just like every ethereum token is tradable on Etherdelta, without having to hope and wait for the token to be listed on a traditional centralized exchange.
NEO may in fact be even more suited to building an exchange platform than Ethereum, as its throughput is even higher, at 10,000 transactions per second. To scale this even further, NEX will have an off-chain order book, which will also allow it to fulfill complex order types such as limit orders.
Besides NEO tokens, NEX’s long term vision is to also allow trading of Ethereum tokens. Along with the possibility of some upcoming NEO-based stablecoins tracking USD and CNY, NEX not only has strong immediate demand, but good future potential as well.
Team
The founding team includes one masters graduate and two PhDs. The Whitepaper is written like an academic paper rather than a marketing spiel, and there’s little doubt these guys can deliver.
Token
The NEX token allows users to receive fees from transactions performed on the platform. This dividend structure means users are incentivized to own more NEX. There will be only 50 million NEX tokens.
The token sale is hard capped at $25 million for 50% of the tokens. The founders share, 20% of the tokens, is vested over two years.
Summary
NEX is an ICO with an immediate use case in the crypto community itself. The ICO is incredibly well-hyped, with 46,000 twitter followers(there is no telegram community), and to even get in on the whitelist requires entering in a lottery.
The low hard cap, strong idea, and immediate demand makes NEX a winner. You can enter the whitelist lottery here.
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