The development of Blockchain technology has brought with it different innovative ways of solving existing problems like exchange of value, e-commerce, monetization of intellectual properties and hundreds more. The reality however is that this kind of revolution which has resulted in the creation of thousands of platforms and applications.
Each ICO project is based on the blockchain, which is a digital decentralized ledger where transactions are registered without an intermediary, that is, a bank. Blockchain primarily focuses upon applications in the financial industry, but nowadays, there is a fast-growing interest for other sectors (e.g. energy, healthcare, insurance, logistics,)
An ICO (Initial Coin Offering) is the technology for raising funds for new startups and projects by means of token sales to investors. Hence, an ICO is an intermediate (but very important) part of the whole project. Nowadays, an ICO cannot be acknowledged as a legitimate or illegitimate means of raising funds. Up to the present, legal specifications and preconditions for ICO projects have not been determined in any country in the world, though some are currently under development.
In the modern world economy, an ICO can become a competitor of any other method for raising investments, and not only in the IT industry.
The initial idea was a pretty good one—blockchain technology could be used to issue new cryptographically secure “tokens” or “coins” that are easy to transmit peer-to-peer. The coins could be sold to fund open-source software projects and other services that people find useful but are hard to finance with traditional structures. They could even function as shares and thus allow startups to finance themselves far more efficiently, from a broader range of people, and without the intermediaries that take fees and require a drawn-out process. In the recent weeks, companies were able to raise as much as 100 million dollars worth of cryptocurrency within just a few hours. An unbelievable deal which is impossible in traditional business angel or venture capital financing. An ICO became the easiest way today to raise outside funding by selling equity.
But as the concept of ico provide an easy way for new blockchain startups to raise funds easily, it also comes with problems for investors as this sphere is not regulated, it is easy for anyone who had the intention of fraud or scam to easily propose a project and after acquiring millions of dollars to exits scam.
Due to vast amount of scam icos, a platform called ICOVO emerged to provide an ecosystem where investors can have a list of project with great potentials to invest in.
ICOVO is a platform which 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.
ICOVO is creating an ecosystem that will ensure liquidity for its investors and users through continuous injection of funds. The basic workflow is described in this section, with details on the ICOVO platform and Token Market in the sections immediately after. ICOVO WEB will be thoroughly analyzed by expert investors. To go through with all this process, it is necessary to create the mechanism from the ground up, borrowing crucial elements from the world of traditional investment and integrating them into this revolutionary wave of technological development.
Every ICO that passes the ICOVO WEB evaluation process will enjoy numerous advantages leading to more and/or better investment, with investment into their token coming from seasoned, disciplined investors. Their ICO will get a reputational boost through the ICOVO Seal of Approval, and free advertisement on the ICOVO Platform. Through this token market place, ICOs will have access to a wide pool of pre-approved investors, that have already gone through the KYC process on the ICOVO platform. Finally, ICOs will receive consulting services and support from ICOVO, while having their tokens sold on a ICOVO WEB for the period of time between the ICO and exchange listing.
TOKEN SPECIFICATION
ICOVO will issue its own token named OVO that serves as the fueling coin of its ecosystem. ICO investors can purchase ICO project tokens at a 25% discount compared to purchasing with ETH. It can also be used to pay for co-working spaces and other services ICOVO platform provides. Moreover, OVO can be used to exercise voting rights for raising the Tap (amount that can be withdrawn per second) or returning a procured funds back to the investors. The OVO token does not possess the functionality of assets such as securities, and its distribution is not linked to ICOVO’s profit
Name: OVO Token
Token type: ERC20/ERC223
Symbol: OVO
Total supply: 200,000,000
ICO price: 1 OVO = 0.3 USD
Decimals: 10
Token Sale Soft Cap (Reached): 5,868 ETH
Token Sale Hard Cap: 60,360 ETH
Token Sale Target: 33,533 ETH
THE ROADMAP
THE TEAM MEMBERS
FOR MORE INFORMATION, VISIT THE OFFICIAL LINKS:
Websites: https://icovo.co/
Medium: https://medium.com/icovo
Whitepaper: https://icovo.co/whitepaper/20180831_wp_service_en.pdf
ANN: https://bitcointalk.org/index.php?topic=4468796.0
Twitter: https://twitter.com/ICOVOCO
Facebook: https://www.facebook.com/icovoco/
Telegram: https://t.me/icovoco
Reddit: https://www.reddit.com/r/ICOVO/
WRItTEN BY:
username: etsu
link: https://bitcointalk.org/index.php?actio ... ;u=1967323
