ICOVO platform brings DAICO to life, proposed by Ethereum co-founder Vitalik to protect ICO investors
Despite regulations tightening up from 2018 all over the world, in just 3 months of the first quarter of 2018, the ICO market reached 5.8 Billion USD—an increase of over 9790% over the previous year (it was 60 Million USD in Q1 of 2017), easily surpassing all of 2017’s market size of 3.9 Billion USD (source).
However, currently there are three main problems with ICOs:
- Project founders running off with procured funds
- Projects stopping due to a motivation decline in project founders, and
- High barriers to ICO participation.
ICOVO is the world’s only ICO platform that can solve these three problems.
It will solve the problems of 1) project drafters running away with the procured funds, and 2) projects stopping in development due to decline in motivation of project founders with DAICOVO, KYC/AML, and Whitepaper versioning.
“DAICOVO” is a smart contract based on the concept of DAICO proposed by Ethereum co-founder Vitalik Buterin in January 2018 to protect ICO investors and will be implemented in the ICOVO platform. Additionally, KYC/AML will be implemented for both investors and project founders, while Whitepaper versioning using IPFS and blockchain will prevent alteration. Only ICO projects that are pre-approved and will implement DAICO will be hosted, and for those projects, ICOVO tokens “OVO” will be issued to get a 25% discount relative to ETH.
The issue of 3) high barriers for ICO participation will be solved through the world’s first ICO-optimized “ICOVO App” and “ICOVO Web”, in place of MyEtherWallet, which can be difficult to use for beginners.
“ICOVO App” and “ICOVO Web” will feature a simple UI that is easy to use for anyone, and includes a wallet conforming to ERC20/ERC223, token purchasing function, and even the mechanism DAICOVO to enable refunds to investor through a voting process—everything needed to participate in an ICO all in one place.
Development started in January of 2018 and despite details about the service yet to be published, offers from ICO project founders who want to hold an ICO on the ICOVO platform have begun flooding in.
ICOVO plans to host its own ICO by issuing its OVO tokens from July 2018.
Moreover, all those that register their email address to receive information about ICOs from May 11 will receive ICOVO’s token OVO for free through Airdrop.
- Airdrop starts from May 2018
- Crowd sale starts from July 2018