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Parachain Raze Network Launches IDO to Give DeFi Privacy a Boost

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Raze Network, a Substrate-based cross-chain privacy protocol, is releasing its native token $RAZE in an Initial DEX Offering (IDO) on April 12.

Raze Network, a Substrate-based cross-chain privacy protocol, is releasing its native token $RAZE in an Initial DEX Offering (IDO) on April 12.

After the conclusions of the registration process for the IDO whitelist, the fundraising will be conducted through three community-led crowdfunding platforms. Otherwise called Raze Network’s Token Generation Event (TGE), the financing round will take place on Bounce, Poolz and DuckStarter.  

This round is only open to the investors that completed the full whitelisting and KYC process of the IDO platforms before the fundraising gets started.

Only 960K $RAZE will be available at the IDO, at a launch price of $0.25. This means that just over $240,000 will be collected during the IDO, which represents one of many planned token distribution mechanisms for the token.

The third phase will see ~4.8M tokens distributed in a public sale to Balancer’s Liquidity Bootstrapping Pool (LBP). Finally, the $RAZE token will be available for trading on Uniswap nearly three days after the IDO is complete.  

The highly anticipated offering marks the latest milestone for the Raze Network project, which previously raised $2.2 million in seed and private funding rounds.

With more Decentralized Finance (DeFi) projects launching in 2021, Raze Network will address privacy challenges and the right to anonymity. The privacy-preserving decentralized platform is built on Substrate to provide DeFi users with anonymous transactions, payments trading, and mining.

While the privacy narrative got lost somewhere among all these functions, Raze Network is working in that regard on the Polkadot ecosystem. Most recently, it developed a cross-chain private payment protocol to provide DeFi users with both safe and private financial transactions.

Raze Network picks up where DeFi left off, introducing the concept of removing trusted intermediaries from swaps across multiple blockchains. This means that privacy will exist in the core architecture, while taking advantage of the interoperable ecosystem that Polkadot brings.

Justin Kellison, project lead and CEO, further outlined the role of a public sale for $RAZE tokens, “This Initial DEX Offering will provide the organization with resources to deliver on the promise of Raze Network, a project that aims to provide trust-less privacy for DeFi in the future Web3.0 world. The sale also allows investors and early adopters to access the RAZE universe. By participating in the IDO, the public are taking ownership in the project’s future.” 

He continues: “Our primary focus after the fundraising is to secure more strategic collaborations with top projects in the Polkadot communities. Raze Network is already engaged with those that make up the building blocks of the decentralized finance ecosystem.”

About Raze Network

Raze Network is a Substrate-based cross-chain privacy protocol for the Polkadot ecosystem. It is built as a native privacy layer that can provide end-to-end anonymity for the entire DeFi stack. The Raze Network applies zk-SNARKs to the Zether framework to build a second-layer decentralized anonymous module.

It will then be imported as a Substrate-based smart contract. The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems while protecting the transparency of your assets and behaviors from surveillance.

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