Sirwin
Sirwin

Parasol Finance (PSOL) - Solanas new IDO platform token

By Keyboardwarrior | Crypto Bulletin | 29 Dec 2021


Solana is among the fastest blockchains available currently ranking as the fifth largest in terms of market cap.

While Ethereum certainly has the upper hand when it comes to the number of tokens that exist on its blockchain, we are going to look at a new token on Solanas blockchain that is currently in its third and final ICO phase, (initial coin offering phase) - Parasol Finance

Parasol Finance is the First Community governed IDO platform - IDO stands for Initial DEX Offering. So basically it's a platform for launching new coins, tokens, new crypto projects, raising liquidity and for all kinds of crypto crowdfunding as in a decentralized manner.

What they mean about being Community governed is that holding the parasol tokens gives you the right to vote on projects which project should be initiated and which shouldn't be. The IDO platform is intended to limit the investment cap as well, making the launches more fair and as a way to reduce the risk of launches being hijacked by wale investors. So while we have had decentralized exchanges before, this is the first decentralized platform for launching new crypto projects that is completely community governed on Solana. 

Please see the above video for more information regarding Parasol Finance. If you enjoyed this video please feel free to subscribe.

While I think this project sounds quite interesting the question is how this will be realized so there are a lot of coins that sound very good on paper and you never know until they have been realized. As with all new coins and tokens in the cryptosphere you should be approaching these kind of projects with a healthy dose of skepticism and caution.

 

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