What is an initial DEX offering?
An initial DEX offering is a method crypto projects use to raise funds through decentralized exchanges, also called DEXes. These are crypto exchanges where users can buy and sell crypto, but unlike a traditional exchange, there is no centralized authority or team in charge of the project.

Crypto trades are handled automatically using smart contracts, and the community of a DEX provides the necessary liquidity by staking their own funds for rewards. An IDO allows crypto projects to list their project token on one of these DEXes, with proceeds from the sales going towards funding the project. Users typically buy these tokens in the hope that they will increase in value as the project grows.

Of course, this practice buying an asset in the hopes that the associated project will increase in value and therefore pay out dividends to the investor falls under murky regulatory territory, with the US SEC often viewing IDO tokens as securities.