The legendary 2017 bull run is still not forgotten in the cryptocurrency community. Bitcoin, the most popular cryptocurrency, was $1000 at the beginning of the year, yet at the end almost $13000, meaning a return of 13x. So many cryptocurrencies with low market caps had yielded even higher ROI. Although investing in ICOs was taken to be much riskier by many, most did truly great and some up to returns of hundreds of multiples.
When something is called a risky investment in the crypto-currency market for good reason, you better believe it andbe extremely careful if people who invest in one of the world’s most volatile asset class do so. This is mostly to the fact that there was, are and will be so many scam ICOs which arguably can be attributed to the absence of regulations in many countries. Some never deliver what they promise as once they have obtained the funds since there is no incentive for them to work on the project. Only a few are easy to spot as exit scams, most overestimate their teams’ abilities and keep missing deadlines or do not deliver at all.
This is why one has every right to ask: How is their use of funds, fully or partially, justified at all if they cannot keep up the promises themselves made?
In early 2018 Vitalik Buterin has proposed an improvement on how to raise funds for blockchain projects, namely Decentralized Autonomous Initial Coin Offerings or DAICOs. A DAICO is basically a decentralized version of your old standard ICO, but now enforcing honesty on founders’ part thanks to the use of smart contracts. ICOVO is a project which follows Buterin’s vision, aiming to make ICOs more transparent, safe and accessible for investors.
ICOVO can be conceived as the marriage of three different products. The first product, DAICOVO is the ICOVO team’s implementation of Buterin’s DAICO idea. Every ICO project will be required to meet certain standards, such as the use of DAICOVO smart contracts, to be listed on ICOVO platform.
The second product, ICOVO App, is all an investor on his or her smartphone needs to invest in ICOs listed in ICOVO. It will feature everything required for a person to invest in a project such as KYC/AML procedures, whitelist registration, and whitepaper viewing. It’s coming with a wallet compatible with Ethereum and ERC-20 tokens which allows the investor to not use any other device or application to participate in sales and to store tokens. A decentralized exchange will allow users to trade their tokens, making ICOVO App a one-for-all solution.
The last product is ICOVO Web, an ICO listing website. Any project will be asked to fulfill ICOVO requirements to be listed on the site, including the utilization of DAICOVO. Possibly resulting in a website with fewer projects listed on compared to its alike, a tool called whitepaper versioning is presented as the most important feature of this product. All whitepapers will be stored by IPFS, ensuring no tampering or change without the investor’s awareness. Furthermore, in such cases platform users will have the chance to have their investments returned.
What Is ICOVO?
ICOVO is essentially an ICO ecosystem that will act as a reliable source of authentic information. This ICO system will implement DAICO to realize better performing ICOs. The core service will be DAICOVO smart contracts, which were advocated by Vitalik Buterin, the co-founder of Ethereum. The primary aim of ICOVO is to make fundraising efforts through ICOs much better than they are at the moment.
ICOVO’s mission is to successfully expand the current ICO market and get a broader range of investors. To achieve this mission, ICOVO has released a dedicated app for both Android and iOS that integrates the first crypto wallet that is specifically optimized and designed for ICOs. Also, the ICOVO Web platform will help increase usability for clients when taking part in initial coin offerings through desktops on personal computers.
What are the Mission and Vision of ICOVO?
ICOs are in the crux of this ecosystem needed for hatching innovative blockchain-related startups.
ICOVO will encourage a ICO that will earn a future by providing DAICOVO, ICOVO Program and ICOVO Internet. Details are explained below in 3 factors.
Boost ICO Transparency and Guard Investors
We plan to safeguard ICO investors by increasing the transparency of ICO job founders in addition to the jobs and introducing a fundraising management program themselves.
- Decentralized Token Management, We’ll create an smart contract comprising the basic idea of management that is nominal of DAICO, DAICOVO. We’ll present a system which only allows withdrawals in line with the funding requirement of a job’s pre-loaded schedule by means of a Harness system (setting a sum which may be pulled a unit of time). This will prevent programmers from running away with funds that are increased. In the event an investor finds a issue they can retract.
- Decentralized White Paper Versioning, Versioning to get White Paper to not be tampered is handled by InterPlanetary File System (IPFS).
- Team Member KYC/AML, ICO project team member’s transparency will be increased by us by offering ICO project team member’s KYC/AML ICOVO site that is on at a method.
- Picture Task Situation, By measuring GitHub upgrades and media action on the web site of ICOVO, We’ll boost project transparency.
Reduce Barriers for ICO Participation
Produce a greater investment environment and decrease obstacles by the arrangement for data disclosure and the investment procedure to ICO involvement.
- Implementing Local Pocket, Implementing a secure wallet that is regional in ICOVO’s first smartphone program that is ICO-specialized, the ICOVO Program helps with comprehension the involvement procedure for tokens that are handling and nominal sales.
- Unifying Formats, Summaries and job pages of all whitepapers on the site of ICOVO presents information concisely, which makes it more easy to comprehend for investors. Providing a list of the projects enhances Access.
Slimming labour for KYC, Remove the need for ICO investors to perform whenever to KYC they invest. KYC is performed by them just as ICOVO will share the data when they engage on the ICOVO Program.
Boost Project Durability
Sustain project creators’ motivation for boost and product launch job durability by introducing a method in.
- Fund Acquisition Goal, By introducing a method of initial clever contracts implementing DAICOVO where funds can only be removed in accordance with a job’s pre-loaded program by Harness (set a sum which may be withdrawn each unit of time), motivation to complete the job creators.
ICOVO Ecosystem
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.
How ICOVO DAICO-Based Initial Coin Offering Platform Works
DAICOVO is a smart contract that is based on the DAICO idea, which was proposed by Vitalik Buterin, the founder of the Ethereum blockchain. This will help to ensure that ICO investors are protected at all times. It is going to be implemented via the ICOVO platform. Besides that, AML/KYC will be implemented for investors and project founders. The whitepaper versioning will use the IPFS and the blockchain will ensure there are no alterations.
Only the ICO projects, which are pre-approved, and that implements the DAICO will be allowed on this platform. For these projects, the ICOVO tokens called “OVOV” will be issued for a 25% discount relative to the value of the ETH tokens. To resolve the issues of high barriers to ICO participation, the platform will issue the optimized “ICOVO App” and “ICOV Web.” This will replace the MyEtherWallet, which can be a bit confusing for newbies.
The ICOVO App and ICOVO Web will come with a simplified UI that is easy to use by anyone. It will include a wallet that conforms to the ERC20/ERC223 tokens standards. Besides that, it will have a mechanism DAICOVO that enables refunds to investors via a voting process. This will ensure that all that is needed to be part of an ICO can be accessed in just one place.
The development of this project started in 2018 and despite the fact that it is still in development offers have started trickling in. Project founders have been requesting the chance to have their projects hosted on the ICOVO platform. ICOVO will host its own ICO and issue the OVO tokens around July 2018. Besides that, there will be an airdrop.
Token
The token’s main use-case is that the use of OVO tokens to invest in ICOs yields a discount of 50%. The reader should note that it is not necessary to use OVO to participate in ICOs listed in the platform, and he or she can use ETH instead. Considering this, it might be more accurate to think that the main product is the platform, not the token.
Any person who is planning to participate in ICOVO ICO should be aware that a bonus of 40% is offered to pre-sale contributors and only half of the bonus tokens allocated to closed sale investors are locked. The price offered to investors for this stage of closed sale is not public. Together with the fact that approximately one-third of team and contributor tokens will be unlocked immediately, token metrics do not seem favorable. The second one-third will be unlocked after six months and the rest after twelve months.
Parameters Of The ICO
Token: OVO
Total supply: 200 million tokens
ICO rate: 1 OVO = $0.3
Hard cap: 60,360 ETH
Soft cap: 5,868 ETH
Funding goal: 33,533 ETH
Accepted currency: Ethereum (ETH)
ICO Dates
Presale Dates: 24/9/2018 to 8/10/2018, Bonus: 40%
Crowd Sale Stage 1: 10/10/2018 to 30/10/2018, Bonus: 10%
Crowd Sale Stage 2: 1/11/2018 to 15/11/2018, Bonus: 5%
Crowd Sale Stage 3: 17/11/2018 to 30/11/2018, Bonus: 0%
Token Allocation
17%: Team members
23%: Marketing
30%: Private sale
30%: Crowd sale
Funds Allocation
3%: Working capital
5%: Development capital
10%: Team members
10%: Advertising
72%: Marketing capital
Roadmap
More Information You Can Find on These Links:
Website https://icovo.co/
Whitepaper :https://icovo.co/whitepaper/20180831_wp_service_en.pdf
Telegram group : https://t.me/icovoco
Bitcointalk thread https://bitcointalk.org/index.php?topic=4468796.0
Twitter: https://twitter.com/ICOVOCO
Facebook: https://www.facebook.com/icovoco/
Author : Laylava.sted
My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2444576
My ETH Address : 0x60D1AD3dA0bfd9360c077ac0aCeA7A492F93eCCc