The death of ICO

gawer33 (39)in #blochain • 6 years ago (edited)

On recent study show that more than seventy percent of Initial Coin Offering (ICO) last year are scams. This includes coins or token who did not reach any exchanges or no way to convert into other currencies. According to the report of TechCrunch, this year more than one thousand cryptocurrencies projects are now dead and estimate its worth one billion dollars. There are many ways to determine fake or scams ICO. If the whitepaper is good to be true and promising big profit without any risk is one. Analyzing team members credentials and if the pictures or name is untrue it’s a scam. But perhaps the best way to avoid ICO scam is to develop a DAICO. From someone who never heard about what is DAICO, its combination of Decentralized Autonomous Organization and Initial Coin Offering, It means a set of law or rules will be followed, coin holders will have the power to vote or decide on the coin offering it will prevent scams or fraudulent ICO’s. An organization or platform that even ICO owners can not control and rules are set in favor of both ICO owners and investor.

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Knowing the issues of crowdfunding, I found an ICO to help us to solve the problem or lessen the risk occurring in ICO, introducing ICOVO “The World’s First ICO Platform Implementing DAICO”.
ICOVO main feature:

Not allowing founders to withdraw all the money invested in the project unless milestone or new development on the ICO occur. This will prevent ICO whose goal is to collect and run the money of the investor. It also gives motivation for the developers to develop faster in their product. It will act as a reward for the developer of the ICO fulfilling its promises
Runs on the decentralized autonomous organization. Token holders/investor have right to vote for proposals or create proposals and token holders can also make the proposal for “refunds” on the remaining funds.

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ICOVO benefits to the investors:
Easy mobile apps where you can easily see Initial coin offerings
Transparency is increased, ICOVO will show updates on ICO’s like social media updates and GitHub changes.
Local wallet on ICOVO app or website can make your ICO buying much easier no more multiple transfer or multiple wallets per ICO
One time KYC, no need for multiple KYC with ICOVO no more time will be wasted on multiple uploads for documents needed for KYC.
KYC on the team member, ICOVO ensures no fake team members will use the platform.
Inter-Planetary File System (IPFS) and blockchain will use on white paper, every change will be recorded. This ensures investor for tampering of white paper to reduce false promises on the process.

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Benefits for the founders of ICO
No more needed for the complex payment system to start an ICO. ICOVO will provide the system needed to start an ICO
More people Invest due to the marketing they will get using the platform.
ICO will be more trusted thus it will result for more investor.
Benefits of using ICOVO own coin OVO:
25% discount compare to ETH