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The days of sold-out token sales may seem like a **distant past,** but this was **disproven by round 1 of SPIN Protocol’s IEO.** 

Yesterday, SPIN Protocol became **the first project to launch an [initial exchange offering](https://www.probit.com/en-us/ieo) on ProBit.** Round 1 of the token sale was completed in less than 3 minutes. 

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An initial exchange offering (IEO) retains all the **benefits of an ICO but eliminates all the drawbacks associated with an open fund-raising campaign.** ProBit’s [IEO platform](https://www.probit.com/en-us/ieo) allows thoroughly vetted projects to easily reach a large **community of investors** while also accessing a **secure storage of funds**. Moreover, as long as the projects retain in good standing, they are given **feeless listings on to the exchange.** 



SPIN Protocol was able to leverage our [IEO platform](https://www.probit.com/en-us/ieo) to provide investors with a **secure channel for submitting their funds.** Rather than searching for an address on a website, which could lead to potential **phishing scams,** or await a Telegram announcement with the address, which could lead to **fake administrators solicitating investors,** SPIN’s investors simply accessed the exchange and deposited the funds. 

This model of token sales (IEO) ensures the community can **securely fund projects** they like without dealing with the stress of verifying the correct contract address. To top it off, SPIN was able to access all the benefits of a ProBit IEO at **rates that are inaccessible at any other platform.** 

<center><h1>The IEO Continues</h1></center>
The second round of SPIN Protocol’s IEO will take commence at 12 Feb. 2019 at 13:00 KST and it will end at 12 Feb. 2019 at 23:59 KST. 

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SPIN Protocol leverages blockchain technology to create a **revolutionary decentralized e-commerce ecosystem.** The decentralized aspect is driven by the project’s ability to give **suppliers and companies a direct reach to influencers** so that they may offer proposals to them in a seamless manner. 

All **middlemen are cut out** and influencers retain the right to work with the businesses that **they deem as a good fit for their audience.** 



The integration of blockchain enables the use of **smart contracts** to ensure the any proposal that is accepted has to be abided by, and the **transaction hashes serve as a means to easily identify sales** driven by an influencer. While the benefits of influencer marketing are traditionally difficult to quantify, SPIN’s method would allow suppliers to **optimize their collaborations.** 

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<h3>The Difference</h3>

The unique differentiating factor between SPIN and other e-commerce or marketing developments that use the blockchain is that **SPIN Protocol is not reinventing the wheel.** The project does not aim to create a **new generation of influencers** to create its own social channels. Instead, the project can be **integrated into existing social media like Instagram,** which already has nearly a billion users and tens of thousands of influencers. 

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Instagram marketing and influencer marketing are **witnessing incredible growth.** SPIN Protocol simply rides this growth by offering an **desirable solution to the market.** The protocol will allow businesses to easily **recognize false traffic** while conveniently **closing deals with the most established influencers** on the web. Meanwhile, influencers will be able to **retain all their income** rather than being forced to hand over large portions of it to agents. 

Moreover, they’ll be awarded the opportunity of choice: access to them would become easy and so a **vast array of suppliers will be able to make proposals** to influencers and the web stars will be able to **pick and choose the companies** they want to work with. 

Such a system combats a common problem in the blockchain space, and that is the **desire to recreate a completely new web from scratch.** Instead, SPIN Protocol offers a **tangible solution** that can be easily integrated into the massive influencer marketing that is already present and growing on social media like Instagram. This gives SPIN **an immediate go-to market** where its solutions can provide value to both social media users, influencers, and businesses. 

<h3>Rapid Growth of ProBit’s IEO Platform</h3>
As ProBit’s IEO provides a disruptive means to create secure token sales, a swath of applicants are awaiting the approval of our vetting team. 

SPIN Protocol is a project with a functioning product and it has a genuine utility in the existing e-commerce landscape. ProBit intends to list similarly qualified projects on its IEO, thereby allowing the Crypto community to access high quality token sales without fear of falling prey to scammers. 

**Join the IEO platform to be part of the next big thing in Crypto.**

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<h4>Be sure to enjoy our new give-aways, contets, and trading competitions!</h4>
- We listed UBEX! Holders and traders are **sharing $10,000 in tokens.** 
- ROCKZ, a **Swiss Franc stablecoin,** has been listed. Share $11,000 worth of RKZ. 
- Korean Won Cash month continues till [end of February!](https://support.probit.com/hc/en-us/articles/360022338332-ProBit-Korea-KRW-Exchange-Opening-Event) Deposit **Korean Won** at https://probit.kr to get lottery tickets for **$200 in daily prizes.** 

We always have something fun going on; keep up with all our current events [here.](https://support.probit.com/hc/en-us/sections/360003404611-Events)