The new polygon (MATIC) Web3 subscription platform jumps on the trend of Dutch auctions

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Dutch auctions are becoming more and more popular in the crypto market. They offer fairer conditions for all participants to bid. Especially when we weigh in the challenges crypto, IEOs and IPOs are facing today. Namely – crypto whales close the sale quickly by buying everything before anyone else has a chance.

After closing a US$500,000 strategic investor round and a US$625,000 private sale round, FrontFanz has switched to a 20-day IEO sale ExMarkets which started on 20 July and is currently on day 5 of the sale and has sold out on all previous days. The current sale is held in the style of the same Dutch auction.

Defining a Dutch auction

A Dutch auction, also known as watch auction or decreasing price auction, is a type of auction where there is no fixed price. Instead, auction participants are invited to offer their own prices for the desired amount. Once all bids have been placed, the auctioneers will start the auction with the highest price of all bids submitted.

To put that in perspective, if a person bids $100 for 100 shares, but the highest price for 100 shares is $70, the person will get the 100 shares for $70. Essentially, a Dutch auction is often seen as a more democratized type of auction, especially in the crypto market. Since there is no fixed price, the Dutch auction allows all interested parties to bid, regardless of their net worth and financial position.

FrontFanz in a nutshell – Blockchain, Mission, Vision and Token Utility

FrontFanz is a censorship-free subscription content Web3 platform built on Polygon (MATIC) blockchain. Founded by Rosey Sin and Stacey Carlaa, two well-known figures in social media, FrontFanz is the answer to some Web2 content sharing platform limitations that creators face today.

No more unilateral censorship, chargebacks, involvement of third parties, delayed or even denied payments. With FrontFanz, content creators can finally express themselves freely, receive fair payment, and connect with their fan base like never before.

Although FrontFanz is fairly new, the platform already has over 400 ambassadors who collectively have more than 32 million followers worldwide. Some of the famous influencers who have joined FrontFanz are Sonia Amat, Swedish Bella, Ana Espinola, Dalila Ortega, Andrew England, Ruby Alexia, Crystal Foster, Alone Aisha, Borbala Kreutzand Jade Filomena.

Since one of the main goals of FrontFanz was to become independent of third parties and their involvement in the payment, the platform was built on the Polygon blockchain. This decentralized blockchain is known to act as the second layer of Ethereum-based blockchains. It is a bit like an intermediary that helps Ethereum handle new projects by providing dedicated tools to increase speed and reduce transaction fees to a minimum.

FrontFanz also has its own token, FANZ, which can be used to access various benefits of the platform. The main benefits include:

• Voting power
• Buy in the platform
• Staking
• Platform-wide discounts
• Access to the FrontFanz MarketPlace

Why you should participate in the FrontFanz IEO sale on ExMarkets

ExMarkets is a next-generation crypto crowdfunding platform focused on providing the tools needed for crypto projects to succeed. It is the world’s #1 crypto crowdfunding platform that harnesses the power of the community to deliver capital solutions to promising crypto initiatives.

ExMarkets offers a wide range of services offered, including an IEO launchpad, token listing and market-making services, staking, ambassadorship and partnership with industry leaders, and open staking pools.

FrontFanz’s first round private sale, which represents 5% of the total offering and has a 15-month vesting period, was oversubscribed and sold out in less than 72 hours. As the popularity of FrontFanz continues to grow, the platform organized a 20-day long public IEO sale on July 20 in Dutch auction style. This provides equal opportunities for all sale participants to obtain FANZ tokens at a better price. Remember that the offer is limited, so if you are interested, join IEO at ExMarkets!