Earlier this year, co-founder of Ethereum Vitalik Buterin proposed the concept of DAICO to fund blockchain projects in order to protect investors investing in them. Despite the present state of market and the tightening of regulation, the ICO market reached $5.8 billion USD in the first quarter of 2018 which has already surpassed the total ICO raised funds in 2017. Despite this tremendous growth, it is obvious that their issues in the current ICO market which are:
- Founders running away with the ICO funds after the crowdsale
- Project team losing interest in continuing the project
- Team not following the roadmap as it is indicated in their whitepaper
- Outright abandoning of the project
In all these, investors lose heavily because they have invested their hard earned money into the project and there's no means for them to get justice but with this DAICO concept, investor interests and funds will be surely protected thereby making ICO investment a less riskier type of investment. ICOVO project will be the first platform to implement DAICO.
What Is ICOVO
ICOVO is the world’s first and only ICO platform that can actualize healthy ICOs. ICOVO will make possible to resolve the issues indicated above by creating a platform that have the interest of the project and the interest of investors at heart. In order to achieve this, the platform will make use of KYC/AML, whitepaper versioning, and DAICOVO.
How It Works
ICOVO aim to protect ICO investors by introducing a fundraising management system and increasing the transparency of ICO project founders as well as the projects themselves.
The core of its service is the DAICOVO smart contract, which is based on the concept of DAICO, which was advocated by Ethereum co-founder Vitalik Buterin in January 2018. This will guarantee the protection of ICO investors at all time. It's implementation will be done through the ICOVO platform. The platform will also implement KYC/AML for invesstors and project founders. The whitepaper versioning will use the IPFS and the blockchain will ensure there are no changes to the whitepaper and agreement.
Only pre-approved project that agreed to DAICO concept will be allowed to raise funds through the platform. The platform will also issue OVO tokens, which will be specialized as a currency for procuring ICO investments with some percentage discount. OVO token is the world’s only token specialized for ICO fund procurement. Its value increases the more sound ICOs are undertaken on the ICOVO platform, so OVO will serve as a symbol and index of the health of the ICO environment.
ICOVO will solve problems by eliminating barriers to the process of participating in ICOs so that anyone can easily participate. They will be solved through providing ICOVO App (iOS/Android), which integrates the world’s only wallet optimized for ICOs, and ICOVO Web, which will increase usability when participating in ICOs through personal computers. It will also have a mechanism which will enables investors to seek for refunds whenever the project don't work according to their roadmap.
The platform competitive advantages are its vision based on original ideology and the vast human capital of the three founders in terms of management capability, technological strength, and glocalization ability accumulated from their wide-ranging experiences. The biography of the founders and other team members can be found here.
Check any of the useful links below for more info about the project.
IMFORMATION ABOUT ICOVO PROJECT.
- Medium: https://medium.com/icovo
- Telegram: https://t.me/icovoco
Bitcointalk username: Fantazy999
My ETH: 0x740507eb37167b2615E4206116eFaF03bcD529A2