ICO vs IEO vs IDO: Token Launch Structures, Investor Due Diligence Checklist, and Regulatory Risk Comparison
Introduction: The Evolution of Token Launches
From the early days of Bitcoin to today’s multichain universe, fundraising has morphed alongside blockchain technology. Initial Coin Offerings (ICOs) sparked the first wave of token-based capital formation in 2017. Centralized exchanges responded with Initial Exchange Offerings (IEOs), and decentralized finance (DeFi) amplified