The ICOVO platform will bring DAICO to life, which was proposed by the co-founder of Ethereum as a way to protect investors in ICOs. Despite the tightening of regulation in 2018, the ICO market reached $5.8 billion USD in the first quarter of 2018. It also surpassed the market size of ICOs in 2017, which was at 3.9 billion USD.
Despite this amazing growth, the current ICOs have three major issues:
- Founders running off with the funds from an ICO
- Project grinding to a halt due to loss of interest by the founders
- The high barriers to entry for those who will take part in ICOs
What Is ICOVO?
ICOVO aims to be the first ICO platform in the world that will resolve this problem. The platform will make it possible to resolve the issues of founders running off with the funds. Besides that, it will resolve the issues of projects stopping due to lack of interest by the founders. To achieve this, the platform will utilize KYC/AML, whitepaper versioning, and DAICOVO.
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.
ICOVO OVO Token ICO Details
- Airdrop: May 8