Happy New Year!
Thank you for all your support in the last year! In 2020, Mask Network has launched many new features such as adding Trading and DEXs feature, supporting NFTs on Twitter and adding Fiat On-ramp. Now it’s 2021 and we are glad to announce that Mask Network will launch a really cool new feature— — ITO（Initial Twitter Offering).
What is ITO (Initial Twitter offering)?
Like what we have done to other popular DApps, we want users to be able to directly participate in public offerings on Twitter. Seeing a KOL shilling some projects you like and that they are raising fund? Now you can fund it 1-click without leaving Twitter.
This is enabled by our decentralized applet infrastructure that allows any DApp to be rendered on top of the existing web-based social networks. Transak, the fiat onramp aggregator would virtually allow people all over the globe to participate in the offerings in 1-click without owning any sort of cryptocurrency before.
Comparison to IPO/IEO/IDOs.
This is a stark contrast compared to the complex permission traditional IPO/IEOs, where the process is complex and KYC-required. The current generation of internet brokerages like Robinhood have streamlined the process compare to the more traditional brokerages. But global access to the best stock offerings is still limited outside the U.S.; In crypto space, centralized exchanges inherited and improved upon the experiences of the traditional market. They partially solve the global access problem, but lack of transparency and regulation makes IEO an extremely asymmetrical game.
As for users already accustomed to the Defi game, ITO is still a step closer to the IDO (initial Dex offering) participants since a lot of them literally dwell on Twitter. Shorter user journey is usually the key differentiator and driver for better adoption.
Variety of Assets.
We welcome various assets to be issued by the ITO platform. Existing tokens can make secondary offerings on Mask to give back to their loyal community supporters. New tokens can choose to launch with Mask first to stay on the cutting edge of financial revolution and garner the social spotlights. Personal tokens could have a very snug fit with the ITO product. NFTs will work as well.
Methods of Offering.
As for methods of offering, we support flat price first and allow sellers to offer tokens at a fixed price in batches (think Xiaomi style phone flash sales). Later we will support various forms of auctions and bonding curves to serve all kinds of offering needs.
Is it fun? Install mask.io and set up your own Mask account. Come and join the first-ever Twitter Offering! We hope ITO could be another pivotal step to bring true financial freedom to the general public.
Remember to follow Mask Network official accounts to get the latest news.
Telegram (English) https://t.me/maskbook_group
Telegram （中文） https://t.me/masknetwork_cn