Master Thesis Online
Determinants of successful IDOs (Initial Dex Offerings) and post-performance - supervised Initial Coin Offerings through reputed intermediaries
Collart, Bastien 
Promotor(s) :
Torsin, Wouter
Date of defense : 5-Sep-2022/10-Sep-2022 • Permalink : http://hdl.handle.net/2268.2/16036
COLLART_Bastien_Master_Thesis.pdfDetails
| Title : | Determinants of successful IDOs (Initial Dex Offerings) and post-performance - supervised Initial Coin Offerings through reputed intermediaries |
| Author : | Collart, Bastien
|
| Date of defense : | 5-Sep-2022/10-Sep-2022 |
| Advisor(s) : | Torsin, Wouter
|
| Committee's member(s) : | Crucil, Romain
|
| Language : | English |
| Discipline(s) : | Business & economic sciences > Finance |
| Institution(s) : | Université de Liège, Liège, Belgique |
| Degree: | Master en sciences de gestion, à finalité spécialisée en Banking and Asset Management |
| Faculty: | Master thesis of the HEC-Ecole de gestion de l'Université de Liège |
Abstract
[en] Initial DEX Offerings (IDOs) have emerged as a specialization of Initial Coin Offerings (ICOs) for blockchain-related entrepreneurial ventures to raise funds via reputed platforms that take the role of screening and vetting agents. In this thesis, we first gather theoretical information regarding blockchain, cryptocurrencies, ICOs and IDOs, then we perform an empirical analysis on IDOs to assess their determinants of success and post-performance. In our sample of 294 IDOs between 2021 and 2022, we show the low influence that classical ICO determinants have on both the success and post-performance of IDOs. In our case, IDOs running a presale and releasing their source code are less likely to have higher returns. We also highlighted the importance that intermediaries can have on IDO success, with some of them significantly impacting the amount raised by ventures conducting an IDO through them.
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