Hello all cryptocurrency investor, meet me again admin from the blog icoaddicted.id. How are you today? Hopefully, it's always fine. As usual, I will return to review an innovative and exciting project, this time named ICOVO.
Surely you ask, what makes the ICOVO project so attractive? The answer, because the ICOVO platform is trying to create a healthy and safe ICO environment for investors around the world.
To realize its mission, the ICOVO platform revives DAICOVO's smarts contract based on the DAICO concept. DAICOVO is a smart contract proposed directly by Vitalik Buterin, one of Ethereum's co-founders, in January 2018.
Find out more about the ICOVO project and what is DAICO in the following article.
Initial Coin Offering or ICO is a fundraising mechanism used by blockchain-based startup companies. Without an ICO, there will never be a variety of blockchain-based innovative businesses that can bring about significant changes in the future.
In 2017, the ICO market touched a figure of 3.9 billion USD. This number continues to increase, even though in 2018 the ICO received regulatory tightening from several countries in the world. In the first quarter of 2018, the ICO market was worth around 5.8 billion USD.
Unfortunately, the massive growth in the ICO market still has three main problems that must be resolved immediately. The challenges consist of:
• There are high barriers for investors who want to participate in the ICO
• Many project founders who carry out ICO funds and are not responsible
• The founders lost interest in the middle of the road, so the project stopped and was canceled
The problem has an impact on the ICO economy which has been hampered. Investors are harmed in large numbers, and more and more people are hesitant to participate in the ICO because of the many cases of fraud and embezzlement of funds.
ICOVO is an ICO platform that has the primary mission to solve all the problems in the ICO room. As a first step, he presents "Web ICOVO" and "ICOVO Application" which will help facilitate investors to participate in ICO projects. The ICOVO application is available for Android and iOS devices.
Both come with a simple UI that is easy to understand and use by everyone, even beginners. One of the excellent features of the ICOVO Application is a multi-account wallet that can be used to store various types of tokens ERC20 / ERC223.
Meanwhile, other ICOVO APP features consist of:
• Whitelist registration
• KYC / AML
• Photo ID Uploader
• List of ICO projects
• Whitepaper viewer
• Decentralized Exchange (DEX), allowing users to trade their tokens
On the other hand, project developers can register their ICO on ICOVO Web. Not all ICO projects can be registered on the ICOVO platform because there are DAICOVO criteria that must be met. This is intended to protect investors from ICO project fraud.
Not enough, ICOVO will also implement the platform-based KYC, AML, and the whitepaper version using IPFS. KYC / AML applies to users and founders of the project. The whitepaper version uses blockchain and IPFS which guarantees no modification.
If an ICO project runs not by the contents of the original whitepaper, investors can compile and collect votes so that the money is returned. The ICOVO platform indeed provides the best protection for investors.
DAICOVO is a smart contract based on the DAICO concept. The method is the process of disbursing funds in stages. The project founder cannot collect all ICO funds at once but is set per unit of time. DAICO will implement a voting mechanism.
When a project is canceled for any reason, investors can withdraw the remaining ICO funds by voting.
Let's say a project A managed to raise $ 5,000,000 from an ICO. DAICO will arrange for the project founder to take the funds for five periods, which means that each period is $ 1,000,000.
If after two periods the project is canceled, then $ 3,000,000 will be returned to the investor if the consensus is reached.
DAICOVO aims to protect investors, increase ICO transparency, and increase project resilience.
For those of you who are already curious about DAICOVO, please download the application in the App Store and Google Play Store. For now, the form only functions as an Ethereum wallet. Some other excellent features will be added soon according to the project schedule.
ICOVO released ERC-20 standard utility tokens that function as currencies to participate in ICO projects listed on the platform. OVO can also represent the health condition of an ICO project, the more OVOs received by the ICO, the better the reputation will be.
PreICO OVO tokens begin on September 24, 2018 - October 8, 2018. Meanwhile, the OVO token ICO starts on November 1 - November 30, 2018. The price of 1 OVO is 0.30 USD. The platform accepts the purchase of OVO tokens using Ethereum, with a minimum investment of 100 USD.
ICOVO is one of the projects that has a bright future because it is present to solve all the problems in the ICO market that continue to grow significantly. ICOVO helps the ICO space to become more decentralized, more responsible and safer.
Nevertheless, the success of ICOVO is also primarily determined by the adoption, time and competence of the development team in building a quality platform.
Created by : Dimassuwe