What are TGEs?
TGEs or TOKEN GENERATING EVENTS are basically crowd token swaps, the token version of crowdfunding.
The TGEs have been truly revolutionary and have managed to accomplish these tasks:
They have provided the simplest path by which DAPP projects can get the required support for their project.
Anyone can participate in a project they are interested in by swapping ETH for tokens of that particular DAPP.
How does a TGE work?
Firstly, the project issues a limited amount of tokens. By keeping a limited amount of tokens they are ensuring the TGE has a credible goal to aim for. The project tokens have a static predetermined ETH swap value.
The transaction is a pretty simple one. If someone wants to swap for the projects tokens they send a particular amount of Ether (ETH) to the crowd swap address. When the contract acknowledges that this transaction is done, they receive their corresponding amount of project tokens. Since everything on Ethereum is decentralized, an TGE is considered a success if it is properly well-distributed and a majority of the tokens are not held by one entity.
What are tokens?
The primary similarity between Ethereum and any other token is that it’s an environment. All projects generate Ethereum ERC 20 Tokens. Here anyone can take advantage of the blockchain technology to build their own projects and DAPPS (decentralized applications) through smart contracts. This is a very important distinction because this very thing shows us the true scope of what is possible in Ethereum.
Ethereum is like the internet and all the DAPPS as websites that run on it. These DAPPS are all decentralized. The way that happens is usually by a crowd token swap termed as “TGE”. Basically, people swap tokens of the DAPP in exchange of their own Ether token.
These are the tokens that act like usage coupons in their respective DAPPS. These tokens value won’t give you any particular rights or privilege within the DAPPS itself.
All users must be KYC registered on the platform to carry out any activities. Registration is a standard process through email, or you can sign in through email, Facebook, Google, Twitter.
All users of the icoDealDeck.com Swap platform must have their own unique Ethereum wallet address. We suggest you go to https://MyEtherWallet.com to create your own Ethereum e-Wallet address.
A user who supports any campaign on the platform receives the status of Backer. Backers can be Creators at the same time. If a backer supports a campaign that has its own token, then it will be sent to that backer’s Ethereum wallet
No personal user data is available to other users or moderators working on the platform. This list includes but is not limited: emails, wallet IDs, or funds available to users, as well as direct links to accounts in social networks, even if they are specified in the user’s form.