ICOVO: new guarantor for blockchain projects
ICOVO (https://icovo.co/) is the first project in the world that helps investors to eliminate fraud in ICO projects by implementing the DAICOVO smart contract. This smart contract is based on the concept of the well-known Vitalik Buterin, the founder and developer of Ethereum, only this smart contract was called in his presentation DAICO.
Those who follow the cryptocurrency at least since the fall of 2017 know how this market excited the world. Along with this, there was talk of government regulations of this market and the centralization of the conducting of ICOs, which would exclude fraudsters. Someone will say that this is not bad, but I understand that with this method the state will be able to track the movement of funds within its state and its citizens, and, accordingly, impose new taxes on it. Therefore, I believe that a project such as ICOVO will help us to deal with our problems ourselves. Namely, the DAICOVO smart contract is an open source contract, which makes it easy to introduce it into the basis for future ICO projects.
The essence of DAICOVO is that the project receives payments from investors only for performing certain actions. For example, the project has a roadmap and for each item it needs a certain amount of investments, and only by executing the previous item the team moves to the next one and receives money from the investment fund. With this method, project teams will become more responsible for projects and large sums of money will not bother them, which happens, unfortunately, very often.
And what will happen if the team does not fulfill the item? It’s simple, investors’ money is returned to their wallets, but if a certain amount has already been spent then the return is not a complete investment, but this is much better than losing their investments irrevocably. DAICOVO is a decentralized contract on the blockchain, which enables the transparency of processes within the ICOVO network. For example, you can see the withdrawal of funds from the investment fund of a project, which occurs, of course, but rarely. Plus notes that can be seen on what was spent money.
The ICOVO project itself will be presented in two variations. The first is an application on your smartphone. The application will be available for IOS and Android, this application will serve as a wallet for ETH and ERC20 based tokens. Also, thanks to the functional panel, it will be possible to view and pass KYC / AML, registration in the whitelists, and the ability to trade your tokens in the decentralized exchange (DEX). The second type of ICOVO platform will be presented in the form of a WEB application, it is necessary for registration in the ICO, that is, there will be a complete list of available ICO projects for investment with their complete documentation and track record. And, of course, thanks to the WEB version, a more extensive list of user protection features, refund, and so on is available. ICOVO requires KYC not only for investors, but also for the entire project team, therefore, the project is very concerned about the safety of investments of its users.
ICOVO ICO (https://icovo.co/) is already underway and is at the PRE-ICO stage, by the way, it is going quite successfully, a Soft-Cap has already been compiled at a rate of 5868 ETH, the minimum investment is 100 US dollars, and a Hard-Cap is planned for 60360 ETH. OVO tokens are required for future privileges on the ICOVO platform. Investments will be accepted at ETH, but for OVO tokens there will be discount and bonus investment privileges, which make the platform very attractive for investors.
This is a really sensible project, thought out to every detail, and the team from Japan inspires great confidence, people from this beautiful country know how to conduct an honest and correct business. Soon we will see many ICOs on the ICOVO platform, and soon we will talk about this project as a guarantee of quality and integrity in the world of ICO projects.
Also, you can find a lot of useful information on the bitcointalk forum (ANN thread): https://bitcointalk.org/index.php?topic=4468796.msg40076110#msg40076110
Author Cryptozond: https://bitcointalk.org/index.php?action=profile;u=1190894
ERC-20 wallet: 0xE09319CEB0C8cf2029e27F85E1Bcb1159c63aF8e
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