New Order $NEWO Public Sale On MISO Holds Big Promise For DeFI Believers
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Venture DAO incubator New Order is providing what might just be a golden opportunity for early birds to get their hands on a limited number of potentially cut-price $NEWO tokens on this Thursday, through a so-called Dutch auction on the MISO DEX.
The highly sought-after $NEWO cryptocurrency serves as the native governance token for New Order, which is aiming to reinvent the venture DAO space by prioritizing community-building ahead of funding.
The Dutch auction on MISO is really a kind of price discovery process, in which investors arrive at a consensus on the price they’re willing to pay for the $NEWO tokens. Rather than just setting an arbitrary price, New Order will instead set what is likely to be an unrealistically high value for the tokens. Throughout the auction, which will last for 24 hours, the price will slowly decrease until it becomes more palatable for investors, at which point they’ll start making their bids.
The eventual price will be determined by averaging out the cumulative bids once all of the available tokens have been sold. It’s a centuries-old approach that enables the market to agree on the value of novel items, and the $NEWO token certainly fits the bill.
New Order said it’s putting up 24 million $NEWO tokens for auction on MISO out of its 800 million total supply, with the bidding set to open at 8:30 EST on December 9.
The limited number of tokens makes it tough to speculate on what the final selling price might be. New Order is yet to reveal the starting price and will only do so just before the auction kicks off, but has already set a minimum price of USD 0.075 per token.
Should the final selling price be anywhere close to that minimum, the auction could prove to be an absolute steal for early bird investors. New Order is hugely ambitious, aiming to kick off its DAO incubator later this month with the goal of bringing 30 to 40 new decentralized finance projects to fruition in that time. The DAO is targeting “machine intelligent, multi-chain projects” that will unlock the potential of DeFi in the metaverse. The inspiration comes from early concepts around the idea of DeFi and the metaverse, such as NFTs being used as collateral for fiat loans. New Order’s community of DeFi builders will vote on which projects to launch, then provide the support they need throughout the entire incubation period until they can finally stand on their own two feet. At the same time, funding will be provided through the DAO treasury.
The initiative also calls for the creation of a dApp marketplace where users can find the latest financial products, with the idea being to return revenues in BTC, ETH and stablecoins to the treasury which can then be used to fund yet more innovative ideas.
Given New Order’s ambition and the enormous scope of its project, it’s certainly not inconceivable that there might be huge demand for $NEWO tokens in the not-too-distant future. If that happens, and we should remember there’s always an “if”, those who get in now could be setting themselves up for a handsome payday once those 30 to 40 DeFi products are up and running.