Speculation surrounding a potential initial DEX offering for KiloEx on PancakeSwap has been dispelled after further investigation confirmed that the transaction in question was simply a gas optimization update, rather than an announcement of a new IDO.
On March 27, the on-chain analyst ai_9684xtpa hypothesized that PancakeSwap (CAKE) was gearing up to launch an IDO for the KiloEx (KILO) token. This speculation arose from the fact that the address responsible for the KiloEx IDO on Binance Wallet had also established an IDO event on PancakeSwap.
However, another analyst, canhua1023, later clarified that the address merely created the KiloEx IDO event to optimize gas fees, lowering them from 256 to 128, which effectively dispelled the notion of a new IDO on PancakeSwap.
The initial analysis by ai_9684xtpa showed that the “Create IDO” transaction originated from the same address that had initiated the KILO IDO on Binance Wallet, albeit with different parameters. Unlike the IDO in the Binance Wallet, which necessitated BNB for participation, the suspected PancakeSwap IDO was purportedly requiring CAKE.
Based on this information, ai_9684xtpa suggested that PancakeSwap could be arranging a KILO IDO independently of the one taking place in the Binance Wallet, noting, “Hyperliquid just had an incident yesterday, so it makes sense to list a Perp DEX on the BSC ecosystem while the attention is still high. Hahaha.”
With the speculation now put to rest, it is evident that PancakeSwap is not launching a new IDO for KILO at this moment. The “Create IDO” transaction was simply for gas optimization.