Dexpools moves IDO to February 2022
Dexpools IDO Solarbeam announcement

It seems like we were just here recently, and want to sincerely apologize to our community for the uncertainty around our IDO timing. Everyone has been amazing, and we have had great success with the closed beta, multiple AMAs across chains, and collaboration with new teams.

Our partners including Solarbeam, the core team, and advisors decided to move our IDO back to February for several reasons – but 99% of our reasoning had to do with supporting the feedback from our ecosystem partners and product roadmap. 

After our awesome closed beta early December, we quickly gathered feedback from the community and our partners. That feedback incubated into a healthy backlog and immediate items we wanted to include in both the official platform launch and the upcoming open beta in mid-January.

While we made significant progress on the product, the proximity of our open beta with the IDO made us increasingly nervous about the logistics around a huge beta release along with the complexities of an IDO. As a small team, we wanted to make sure to do one thing super well instead of both with mediocre success. The product and community has always been #1 for us. 

The purpose of our fundraising has always been to continue funding development of our product so the users and community around Dexpools has an amazing experience for their peer-to-peer trading needs.

The features released in our open beta are important:

  • Fully audited contracts by Quantstamp with details released publicly
  • Live trades, the ability to deposit directly into a contract on offer creation and have a seller fill a trade immediately without negotiation
  • Partial fills, users can allow for several traders to interact with their offer, which is huge for larger orders and traders
  • Multi-token acceptance, allowance for users to accept several tokens for one offer
  • Notifications, self-explanatory but allowing SMS and email notifications + improvements on types of notifications
  • Speed upgrades for messaging and scalability
  • Privacy enhancements, ability to hide usernames / ids for private trades

On top of that, our engineers and designers are already working on some critical infrastructure to support the following features for the official launch in February after our IDO:

  • Additional privacy settings, private swaps off public dashboards for whitelisted addresses
  • UX enhancements to the chatting and negotiation experience
  • Additional chain support (Polygon, BSC, Fantom)

What’s on the horizon beyond February’s platform launch?

  • GameFi / NFT swapping
  • Community management support, roles and permissions for groups
  • Launchpad integrations
  • Broker tools
  • DEX integrations

We have lots going on and we promise that the community will be thrilled by the product as we continue to add value to the P2P OTC trading community, IDO ecosystem, and other partners. 

As for the IDO, we will announce our new date and surrounding details prior to our open beta in mid-January.

One other huge decision was to host a dual IDO between Solarbeam and another platform. We love the Solarbeam team + community and they have been wonderful to work with, but we are supporting multi-chain swaps, which means supporting multiple communities. Our team has received feedback from the wider community that it would be optimal to share the IDO so other communities have the opportunity to invest and support our product launch. The tentative plan is to split the IDO down the middle – more information on that soon as we finalize our additional launch partner.

We are very open to additional thoughts and feedback on the news shared. Come stop by our social channels – dialogue is encouraged. Hopefully our rationale makes sense, and we look forward to continuing the Dexpools journey together.

Thank you,

Dan Peng

Co-Founder / CPO