Flybit launches Flybit WoW, an Initial Token Escrow platform
- Tokens of high potential projects worldwide will be released through the ITE platform.
- Verification procedures and strict screening will be applied to ensure reliable service
Korea Digital Exchange, the operator of the virtual asset trading platform Flybit, has announced it will launch the Initial Token Escrow brand Flybit WoW on July 29th.
Flybit WoW unveiled the slogan 'Fly me to the moon' along with a strategy to show promising tokens with high potential value to the point where anyone can see “WoW” from their mouth. It exemplifies the will to lead a positive change in the investment culture in the hope of the emergence of virtual assets and a positive platform brand image.
The newly launched token brokering platform, Flybit WoW, is designed to provide an escrow platform for sellers (project foundations) and buyers (investors) to securely trade. In the case of foul play from a project, token sales can be stopped and authenticity of suspicious activity to be checked. If the suspicion is confirmed, the tokens sold to the investor should be fully refunded.
Unlike existing platforms, this is to be positioned as an intermediary platform (ITE) that connects token sellers and buyers, and to enhance brand value by unveiling tokens from project teams with high potential worldwide through the ITE platform Flybit WoW.
In addition, a newly organized business development (BD) unit with extensive experience performs due diligence on every project. The token review will be carried out through thorough verification procedures such as rigorous screening processes, feasibility of business models, competitive advantage over similar services, transparency of governance structure, and the focus on enhancement of project reliability.
“We expect Flybit WoW can securely connect token sellers and buyers, to receive real interest from real investors and the industry,” said Oh Se-kyung, Director of Flybit Marketing (CMO). We look forward to discovering tokens with high growth potential along with our global partners.”
Furthermore, Flybit will continue to recruit top global talent to join its personnel for service planning, customer service, compliance, and business development as full-time employees. Interviews will be based on job suitability by sector.
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