#daico

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For projects that put into practice the DAICO concept, it will strengthen a level of accountability on developers and engineers and give token holders additional peace of mind that they are certain to either see at least a minimum viable product(MVP) or get their money back.

How Does a DAICO Work?

It starts with a Smart Contract in contribution mode. The DAICO smart contracts have a mechanism where contributors can hurl funds to the project in substitute for network specific tokens. When the period of crowdsale ends, the contract will forbid anyone from contributing any further, i.e., normal token sale. There is one variable called the tap variable that comes into effect after the payment period has ended. This tap in the contract can be programmed to help developers to predetermine the amount (per second) that can be taken out from the token sale funds. Initially, the limit of the contract is set to zero, but token holders can then vote on a resolution to increase the variable of the tap.

What Are The Benefits Compared To ICO’s?

It puts more power in the domain of investors. Stakeholders have much more to influence and say in the development phase of the project. If they are not contented with how the project is moving ahead, they can set the convention to extract and get a refund. This completely alleviates the risk of scam ICOs where developers cling to a token sale and then went missing with the money as soon as the ICO is finished, without producing any product.

About this Platform:

Decentralized Token Procedures: The staff intends to build DAICOVO, a whole wise package incorporating DAICO’s fundamental notion of decentralized token supervision.

When a businessman notices a problem with the project, they could retract their expenditure that was raised under agreement mainly because of a refund.

The aim of ICOVO is that whenever there is no ICO, then there is no Future. ICOs happen to be in the very key of the ecosystem needed for hatching progressive, blockchain-related startups. This product for the future shouldn’t be crushed, but instead carefully preserved.

Nowadays, we find that Cryptocurrency permits impossibly great deal of wealth to get moved, giving these shareholders the energy to improve society. Therefore, another era of young investors with adaptable pondering and deep understanding of technology own emerged. As such, ICO is not a universal fundraising plan, but an essential component in creating an ecosystem incubating progressive blockchain-related start-ups that may form the future. We should not prematurely crush this future-creating gadget on the grounds of insufficient trader protections, or need to perpetuate governments’ central authority.

ICOVO carries a vision to come to be the Global Standard for ICO Platforms. This may be completed as the group Makes an internationally standard for ICO devices for cutting-edge blockchain related startups and ICO clients. To enable you to achieve the aim of soundly cultivating ICOs into “the main element of the ecosystem needed for hatching cutting edge blockchain-related startups” that may create the longer term, ICOVO must become a next-generation global standard for ICO systems that are genuinely priceless to both cutting-edge blockchain-related startups and ICO purchasers.

As well, the team could make the ICOVO framework the global typical by merely proposing a brand new, centralized-decentralized hybrid control framework to central governments around the globe currently attempting to improvement healthy ICO environments through centralized strategies.

What is DAICO?

An excellent DAICO is a model that uses decentralized answers to prevent planners from dishonestly using funds raised via an ICO. In ICOs employing tokens that adhere to the ERC20 ordinary, smart agreements are being applied to limit the amount of money raised that task founders can withdraw per item of period, and if the duty is canceled for causes unknown, the rest of the funds could be returned to the ICO shareholders if a consensus is apparently reached.

Mission:

Most whitepapers will not include financial facts such as harmony sheets. That’s because ICO shareholders, unlike equities shareholders, aren’t taking into consideration the latest returns. They see the point of view outlined in the whitepaper, analyze the code uploaded on Github for integrity, and judge if the work will have a significant influence on society or not. Their research requirements aren’t predicated on a rising design of perpetuating the positioning quo but is considerably more progressive, scrutinizing the revolutionizing convenience of the company or technology.

For this reason fact, funds collected in tasks offering alternatives or technology with the thought of decentralization that risk turning the very basic of our real globe upside down, rather than where swift returns are expected. The real reason for these significant investments is because ICO traders are incredibly not the same as equity shareholders. They are dysphoric and doubtful about the prevailing state of modern contemporary society and have a sense of duty to create a plentiful approaching. Twenty or thirtysomethings that firmly take pleasure in the potential of technology to get this done are pivotal. They kept to Bitcoin, Ethereum, and various AltCoins only before the initial value surge, and raked in substantial capital rewards.

Website: https://icovo.co

WhitePaper: https://icovo.co/whitepaper/20180831_wp_service_en.pdf

Ann Thread: https://bitcointalk.org/index.php?topic=4468796.0

Telegram: https://t.me/icovoco

Twitter: https://twitter.com/ICOVOCO

Facebook: https://www.facebook.com/icovoco

My Bitcointalk Username: bittop-24

Hello, my friends. It is not a secret that the amount of money involved in cryptocurrencies with blockchain technology is more than 500 billion dollars and it grows every day. But the disadvantage of the ICO projects is that they often develop in a different way than they had been planned and sometimes creators of fraud projects escape with our money. The aim of this project is to develop trustworthiness to ICOs.

What is DAICO?

A key principle of ICOVO project is DAICO or Decentralized Autonomous Initial Coin Offering. The developer team sells its tokens during DAICO as it was in ICO. But DAICO is more transparent and safe comparing to ICO. A smart contract is running DAICO that regulates payment issues. It also controls the amount of money that the team can access. The token holders have decision-making right. In case of any needed changes in the project plan, the team places the offer and waits for holders votes. The contract completely excludes the possibility of total fraud. If token holders see the team is not able to perform the objectives, they can initiate a return of remaining funds.

How does it work?

ICOVO is an ICO support platform based on DAICO called DAICOVO and includes ICOVO Web and ICOVO App. DAICOVO is a smart contract comprises a token contract, a token sale, a pool and a voting contract. These contracts are independent and interact with each other. The project developers will submit the information needed for a token sale contract, a smart contract will be generated and the project will pass to the contribution mode when an investor can purchase ERC20 type tokens with OVO or ETH. Once the token sale is finished and a commission is paid to ICOVO, the team can withdraw the amount of money unlocked according to the smart contract. The project passes to a voting mode when token holders can place proposal or vote for or against placed proposals. In order to prevent fraud, the voting is performed by sending some tokens to a particular address. After the vote is closed the tokens will be returned.

ICOVO App and ICOVO Web

ICOVO App is Android and iOS compatible application with ERC20/ERC223 wallet. It allows the project's founders to manage their funds and voting. Token holders can easily invest in different ICO and manage their tokens. The system will not save private keys on its server. ICOVO Web will have a list of all DAICO projects.

The advantages of the project for investors:

• Investors’ protection against fraud • KYC/AML procedure of project founders for additional transparency • ICO projects transparency and creation of standards • Decentralized token management, decentralized whitepaper storage in IPTF • Reduce barriers for ICO participation by utilizing once performed stored KYC

Advantages for ICO founders:

Founders of ICO receive besides the trust of investors a free service such as design and parameters settlement, token compelling and other. Additional service includes business plan analysis, white paper review and translation to multiple languages, legal check by a Swiss lawyer and press release

ICO and token details

OVO token is a utility token used for various services and purchasing different ICO tokens at 25% discount. ► Ticker name: OVO ► Token standard: ERC20/ERC223 ► Total supply: 200 million OVO ► Tokens for sale: 210 million OVO ► Soft Cap: 5,868 ETH ► Hard Cap: 60,360 ETH ► Price: 1 OVO = 0.3 USD ► Presale date: September 24, 2018, October 08, 2018, ► Presale minimum purchase: 100 USD ► ICO date: Phase 1 with 10% bonus: 1 -7 November 2018 Phase 2 with 5% bonus: 9-15 November 2018 Phase 3 with no bonus: 17-30 November 2018 ► ICO minimum purchase: 50 USD ► Payment method: ETH ► Unsold tokens will not be issued

More information, please visit links below : Website: https://icovo.co/ Whitepaper: https://icovo.co/whitepaper/20180831_wp_service_en.pdf Twitter: https://twitter.com/ICOVOCO Telegram: https://t.me/icovoco ANN Thread: https://bitcointalk.org/index.php?topic=4468796.0

Take on:

- assessment of financing needs - development of ICO strategy - preparation of a business plan for entering High Tech Park - development of a marketing plan (including marketing budget) ICO - design of business processes ICO - writing white paper, onepager - designing a bounty program - team selection - search for advisers - other business consultations

Our partners will undertake:

1) the law firm: - registration of a legal entity - Entering the company in High Tech Park - legal plan for ICO - other legal advice

2) IT company: - site in several languages - development of a smart contract - creation of personal investor's cabinet - cyber security token - technical advice

3) marketing agency: - coverage of ICO in the media - website promotion - SMM - organization of conferences - other promotional activities

Call +375 (29) 121-14-00 or write to [email protected].

 I explain top alternatives to ICO fund raising

1) STO: Security Token Offering

2) DAICO

3) SAFT: Simple Agreement for Future Tokens

4) IICO: Interactive ICO

5) Token airdrop

6) VC: Traditional Venture Capital raise.

Stop Scams By Ditching ICOs And Investing In DAICOs

Fact:  ICOs are a good way to make money in crypto.     Fact Check:  ICOs are also the easiest way to lose money.    Last year alone,   46% of the ICOs failed   while a few others are failures in the making.  But why is that so?  Well, it is the nature of the start-up world, and ICOs or token sale-based start-ups also fall under this category. Crowdsourcing money through ICOs does not guarantee a special treatment in the market mechanics, and that is why most fail and will continue to.  However, there is a flip side too:  Read these stories of failed ICO start-ups because they pulled and exit scam:     Confido disappeared with $375,000.      Benebit disappeared with $ 2.7 million.      Centra Token pulled off a scam worth $32 million     I am using the word ‘FAIL’ here because these ICOs failed their investors, but from the perspective of organizing team that raised the ICO, these examples are success stories.  The question is:  How to stop these success stories which are actually scams for novice investors in the decentralized token economy?   Well, the pioneer  Vitalik Buterin  has proposed a solution and it’s  DAICO .   What Actually Is DAICO?   DAICO is a hybrid solution of ICO and DAO to make a more effective and secure way of crowdfunding in the tokenized world.    DAO + ICO = DAICO    Here, DAO is a decentralized autonomous organization. A decentralized autonomous organization, or just DAO, is a business or organization whose decisions are made electronically by a written computer code or through the vote of its members. In essence, it is a system of hard-coded rules that define which actions an organization will take. ( Source )  The original idea of having DAICO was proposed by  Vitalik Buterin , the founder of Ethereum, in order to improve the old ICO model by incorporating some features of a DAO.   How DAICO Works     Stage 1:    In a DAICO, the intending development team launches a DAICO smart contract on the Ethereum blockchain with DAICO variables which is different compared to the old ICO contract. (Will talk about the DAICO variables later in the article). Of course, the DAICO also starts in ‘Contribution mode’ just like ICO contracts where investors can contribute Ether according to the rules of the ICO.    Stage 2:    Now, this DAICO can be an uncapped token sale, a capped sale, a KYC mandatory sale or per-person capped sale, as decided by the organizing team.    Stage 3:    Once the contribution period ends, the ability to contribute ETH stops and the initial token balances are set. From there on, the tokens can become tradeable. (Just like the normal ICO or token sale.)  Now the   DAICO variables   come into play.  This DAICO variable is called ‘tap’. The ‘tap’ (units: Wei / sec) determines how much Ether the developers will be able to withdraw from the contract per second.  (This keeps a check on the developers as they can’t withdraw the whole contributed amount at once.)   This can be implemented as follows:    tap: num(wei / sec)

lastWithdrawn: timestamp  # Make sure to initialize this to the contribution period end time

@public

def withdraw():

    send(self.owner, (block.timestamp - self.lastWithdrawn) * self.tap)

    self.lastWithdrawn = block.timestamp

@private

def modify_tap(new_tap: num(wei / sec)):

    self.withdraw()

    self.tap = new_tap

    Another variable is ‘Vote’. Using this mechanism, the token holders can vote on two types of resolutions:    Raising the tap : This is for deciding how much Ether is actually needed by the developers in the near future.   Permanently self-destructing the contract : Or more precisely, putting the contract into withdrawing mode where all remaining ETH can be proportionately withdrawn by the token holders if the decision to stop the project has been made.    Purpose of DAICO & Benefits of DAICO   The purpose of DAICO is simple.  It is to make the development team, who is collecting the money and promising the product, more accountable.  The DAICO model is a governance mechanism in itself but it doesn’t mean that DAICO model is for the investors to rule over the fund-raising team. Instead, it to make a collaborative model where investors, as well as the investment collecting authority, come together to work in a fair way.  The intention is also that the voters (token holders) start off by giving the development team a reasonable and not-too-high monthly budget, and raise it over time as the team demonstrates its ability to competently execute the roadmap with its existing budget.  (Use of resolution  #1 )   If the voters are very unhappy with the development team’s progress, they can always vote to shut the DAICO down entirely and get their money back.  (Use of resolution  #2 )     Benefits of DAICO    DAICO will bring to the table the following things in comparison to normal ICOs:   More collaboration  Education of investors  Transparency  Accountability  Fair incentive distribution etc…    Difference Between DAICO & ICO      DAICOs are decentralized and governed to some extent in nature whereas ICOs are not. This is the irony in a decentralized project, and also the reason for many ICO exit scams.  In the DAICO model, the development team needs to think about investors before making any decision because investors (voters or token holders) can shut the project, or lower the ‘tap’ limit anytime by unanimous votes.     In DAICO, investors have a say or overview of the funds they have contributed, whereas in ICOs the power rests solely in the hands of the few who have organized the ICO.   Conclusion   I am really impressed by the DAICO model as it further amplifies what  smart contracts  can do and how safe they can make the whole decentralized world that we all are willing to create.  Plus, it is a very healthy model for the industry as it enforces the rules in a democratic way by leveraging the technology.  Moreover, though it looks promising on paper, it is very early to say how start-ups intending to crowdsource might react to it.  Some start-ups like The Abyss have also started incorporating DAICO model for their crowdsourcing!   Dear  @VitalikButerin , we’ve adopted your DAICO concept, improved it, applied to our Token Sale and got our smart contract redeveloped & reaudited. We are now inviting you to become an Oracle (supervisor) of the world’s first  #DAICO , 100% inspired by your idea  #TheAbyss   #Ethereum   pic.twitter.com/zjQJHRJptR   — The Abyss (@theabyss)  February 4, 2018      And in the future, if this becomes the go-to method to conduct ICOs, start-ups that would still be doing ICOs the old way, would face the accountability questions from the investors and would eventually fail to get traction.  Lastly, the DAICO model will need a lot of education for the investors so as to understand the basic mechanics of a start-up because they will be in the voting or governance seat in this model.   Let us know:   How do you feel about the new DAICO model? Do you know of any ICOs that are adopting the DAICO model? Eagerly waiting for your comments 🙂   Further suggested readings:    5 Smart Tips For Beginners Before Investing In ICOs    6 Top Cryptocurrency Exchange Coins That Pay Dividends Or Offer Reduced Fees    Coins vs Tokens: Know The Difference [Crypto Basics]    Ethfinex’s Nectar Token Is Here And Its Here To Stay!    Ethereum Cryptocurrency: Everything A Beginner Needs To Know    The post  Stop Scams By Ditching ICOs And Investing In DAICOs  appeared first on  CoinSutra - Bitcoin Community .

https://coinsutra.com/what-is-daico/