IDO season is not over yet. The past few months have seen busy days as the crypto community has been overburdened with filling out whitelist forms and participating in community initiatives for upcoming IDO projects. The current situation remains the same. This new DeFi energy project, IOEN, is fully invested in creating a major boost as it prepares for the upcoming IDO. IOEN offers an innovative approach to catalyzing the creation of “virtual microgrids” around the world that promote efficient energy distribution. IOEN will be launched on two platforms in October as part of the IDO launch.
IOEN double launch in October
The first of these is the TrustSwap IDO which is scheduled to start on the 8th of October. Trustswap is a decentralized protocol that aims to enable users to make “customizable transactions” both in DeFi and in the cryptocurrency space as a whole.
Although it is primarily geared towards enabling smart contract adoption, it also has an original launchpad that has launched 27 projects so far according to its website. Despite the fact that most of the projects listed are by no means household names for cryptocurrencies, it seems to have seen relatively good growth on the launchpad with one project called ‘Chain Games’ growing 10200% to an all-time high at $1.03. for each currency. Although it has since fallen to a lower price of $0.1478, it is still nearly fourteen times higher than its initial price of $0.01.
Besides the launch on TrustSwap, there will also be a separate launch on TrustPad, a premium platform and launch platform dedicated to DeFi projects. TrustPad has completed 28 launches so far and has three on the way next week, which is an impressive number for relatively new projects. IOEN’s DEX will be the next day, the list has yet to be announced.
The project will manage its own whitelist operations and token holders must comply with KYC anti-money laundering measures as a mandate to participate.
Bringing the idea of energy facilities into the Blockchain space
IOEN stands for Internet of Energy Network and is a not-for-profit platform that aims to promote efficient distribution of renewable energy using Holochain’s smart contract technology. It was made by the developers of RedGrid, a clean energy technology company that aims to save energy by automating home appliances to use power when the power grid is best suited to it, rewarding users with IOEN tokens to help with grid stability.
So far, IOEN has seen investments from a number of significant venture capitalists including SL2 Capital, Skyman Ventures, AU21 Capital, Holochain, Maven Capital and other notable companies. IOEN has over 16,000 followers on Twitter alone and is growing. The project is currently accelerating its community initiatives and releasing study materials including the Energy Internet Network currency note into the public domain for members to review and learn.
The project is driving a community-centric mission with a strong drive to renovate the existing modern financial landscape into an energy-friendly environment, promoting aspects of sustainability, and thus preserving it for the future.