Crypto Exchange Coinbase (COIN) Bringing Back the ICO

Coinbase is introducing a new platform for token sales, aiming to revive public crypto offerings while mitigating the issues that plagued the 2017-2018 Initial Coin Offering (ICO) boom. The platform will host approximately one token sale monthly, utilizing an algorithm to distribute tokens equitably after a one-week purchase request window, avoiding a first-come, first-served model. The first offering will be from layer-1 blockchain startup Monad next week. Participation requires using USDC, and only verified users in good standing can join. To protect investors, Coinbase will vet projects based on criteria like team track record and token structure, and will enforce a minimum six-month lock-up period before project teams and affiliates can sell their tokens. This new approach represents a potential reset for public token sales, incorporating greater oversight.

(Source：CoinDesk)