ICOVO -THE DECENTRALIZED ICO REVOLUTION
INTRODUCTION
Ideas they say, are the bedrock of innovations. And innovations form the pillars that uphold the edifice of industrialization. What idea prototypes are to inventions, is exactly what ICOs (Initial Coin Offering) are to blockchain innovations. For every dream blockchain project, there's an accompanying coin offering to sell the idea as well as seek to raise funds for the project. Take away the ICO, and you take away the feasibility and possibility of that dream project ever coming to fruition. ICOs are a means for project teams to market the idea and mission behind their respective platforms or project. Eliminate the ICOs, and you just might terminate the project there and then.
WHAT IS THE ICOVO PROJECT ABOUT?
Having accepted the premise that ICOs are important to the actualization of blockchain-based projects, there is thus a need for the implementation of a system that would serve as a platform through which credible ICOs could be accessed and graded. Also, the ICOVO project would be spreading its oars into the centralized sphere, affording institutions the opportunity to cash in on the infinite potentials that abound within ICO investments. This is through a merger system whereby the centralized and decentralization concepts would be integrated into one singular base that these institutions can be fully supported on. These institutions may include governmental institutions and the likes.
CHALLENGES WITH COIN OFFERS
For every solution, there has to be an initial problem that had to be solved. The following are some of the current challenges being experienced with the ICO market.
Sometimes, projects do not work out as earlier envisaged or planned. When this occurs, there might be a cancellation or shutdown of the project. To this effect there needs to be a refund of capital already invested by investors. Unfortunately, this is not the case. When projects are shutdown, it is common for investors to lose all their funds that have been injected into the investment project. It is then termed collateral risks. This should not be so.
With the preponderance of millions of active participants in the crypto industry, there is an increase in the launch of daily platforms and accompanying utility tokens and coins. To this effect, is quite normal to keep coming across several ICOs. The problem then is how to differentiate the real from the fake. There is absolutely no way to identify and isolate false and phony ICO proposals. There is thus a tendency for investors to get defrauded through scam investment offers.
For every ICO, there is an accompanying whitepaper that gives information about the working principles of the platform. The challenge with comprehending whitepapers is that each respective platform chooses to adopt certain unique pattern and format for their own whitepapers. This poses a challenge to easy comprehension due to the absence of homogeneity.
ICOVO'S SOLUTIONAL OFFERS
To put an end to the previously discussed problems, ICOVO seeks to introduce some fundamental solutions and it is to carry this through the following potential provisional offers:
INTRODUCTION OF TRANSPARENCY INTO THE SYSTEM: Through its protocols, ICOVO would be seeking to open up the ICO sector, eliminating all shrouding and thereby encouraging all potential investors who might have been deterred by the ambiguousness of projects.
ELIMINATION OF OBSTACLES TO INVESTMENT: Occasionally investors encounter obstacles that may prevent them from participating in certain ICO projects. What ICOVO does is to clear the way and make things easier for them to actively participate in any credible project of their choice.
IMPLEMENTATION OF THE CONCEPT OF DURABILITY: Through its platform, ICOVO would be forcing projects to be of durable quality, thus ensuring sustainability. Through protocols upon which the system runs, the project owners are restricted from engaging in activities that would prove to be detrimental to the survival of the projects.
THE ICOVO MOBILE APP
For easy usability and widespread mobility of services, there would be a deployment of a mobile application on various mobile platforms. Users can have access to their respective wallets through these apps.
THE ICOVO WEBSITE
Through a very interactive and user-friendly website, listings of genuine ICO projects can be accessed. The ICOVO web would be incorporated with measures that shield the investors from unnecessary wanton risks.
THE DAICOVO SMART CONTRACT SYSTEM
The ICOVO platform makes use of the DAICO protocol to handle smart contracts on the platform. There is an added incentive for project owners who choose to use this model in implementing their ICO projects on the ICOVO web. They get to enjoy the services for free.
THE OVO TOKENOMICS
On the platform, there would be an incentive put in place for investors who choose to acquire their tokens using OVO as opposed to using the ETH. The incentive discount benchmark is set at twenty five percent (25%). Also, to encourage further circulation of the OVO, when project authors raise funds, thirty percent (30%) of the fund is issued in OVO equivalent while the rest seventy percent (70%) is paid out using the ETH.
CONCLUSION
For credibility to be evident in the system, and to give credence to the blockchain industry as a while, there is need for a system to be put in place to checkmate the prevalence of fraudulent ventures. With further spread of risk-free platforms, there is great hope that the blockchain would experience greater spike in acceptance rate which would in turn translate to further influx of investors.
Know more
Web: https://icovo.co/
Facebook: https://www.facebook.com/icovoco/
TelegrM: https://t.me/icovoco
Twitter: https://twitter.com/ICOVOCO
Author btt link: https://bitcointalk.org/index.php?action=profile;u=1223251