<s>
An	O
Initial	B-Protocol
exchange	I-Protocol
offering	I-Protocol
(	O
IEO	O
)	O
is	O
the	O
cryptocurrency	O
exchange	O
equivalent	O
to	O
a	O
stock	O
launch	O
or	O
Initial	O
public	O
offering	O
(	O
IPO	O
)	O
.	O
</s>
<s>
IEO	O
's	O
and	O
initial	B-Application
coin	I-Application
offerings	I-Application
(	O
ICO	O
)	O
share	O
similar	O
characteristics	O
with	O
,	O
however	O
,	O
an	O
IEO	O
can	O
be	O
seen	O
as	O
an	O
evolution	O
from	O
the	O
ICO	O
due	O
to	O
legal	O
influence	O
and	O
an	O
increase	O
in	O
financial	O
regulations	O
within	O
the	O
cryptocurrency	O
market	O
.	O
</s>
<s>
The	O
first	O
use	O
of	O
the	O
platform	O
was	O
with	O
BitTorrent	B-Protocol
Tokens	O
(	O
BTT	O
)	O
which	O
raised	O
$7.1	O
million	O
in	O
less	O
than	O
18	O
minutes	O
.	O
</s>
<s>
Unlike	O
in	O
an	O
initial	B-Application
coin	I-Application
offering	I-Application
(	O
ICO	O
)	O
the	O
startup	O
does	O
not	O
need	O
to	O
manage	O
and	O
conduct	O
the	O
fundraising	O
process	O
.	O
</s>
<s>
Platforms	O
that	O
are	O
to	O
promote	O
new	O
startups	O
analyze	O
and	O
vet	O
the	O
businesses	O
white	O
paper	O
,	O
team	O
,	O
business	O
plan	O
,	O
tech	O
and	O
assess	O
the	O
tokenomics	B-Protocol
of	O
the	O
business	O
.	O
</s>
