ICOVO — The World’s First ICO Platform Implementing DAICO

There are many blockchain-related startups today. In order for these startups to grow, ICOs are needed. On one hand, ICOs can have a great return on investment for the investors. On the other, it poses risks and the investors are vulnerable. Not to mention the startup may even fail altogether. This situation can be changed with a platform for ICOs that implements DAICO, which is the aim of Icovo.

ICOVO — The World’s First ICO Platform Implementing DAICO

Nowadays, the cryptocurrency market is developing with dizzy speed, more and more new people know and join this market, this opens business and investment opportunities for Blockchain companies as well as crypto traders, investors. In this market, we can’t help mentioning ICO, it’s a way for Blockchain startups raising finance for developing and achieving their products, visions.

What Is It?

Icovo is a platform for ICOs that aims to protect blockchain-related startup projects and their investors. As a platform, it wants to be valuable to both the startups and the investors. Knowing that blockchain-related startups require ICOs to grow and ICOs require a proper platform to launch, the platform attempts to develop healthy environments by implementing DAICO so that ICO and startups can grow.

What Is DAICO?

It is a model which implements decentralized methods. The purpose of implementing decentralized methods is to prevent the misuse of funds gathered through an ICO. When tokens in ICOs are based on ERC20 standard, there will be smart contracts that limit the number of funds that can be withdrawn by project founders.In case the project is canceled the investors can get their funds back.

Target Market

The target market is the ICO support service. This market has grown significantly. In 2016, the market size was 96 million USD. In 2017, the size grew exponentially to 3.7 billion USD or about 3800%. Not only that, the number of ICOs was increasing significantly as well. In 2016, the average was 2.1 million USD. In 2017, the number increases to 15.7 million USD, which is roughly seven times 2016 number.

Services

Icovo provides various services which make it a one-stop support service for ICOs. These services are created for investors and project founders. With these services, the platform intends to create healthy environments where project founders can raise fund they needed and investors get the protection they should get. The following are four of many services that the platform provides.

The first service provided is DAICOVO, which is a platform that is used to manage ICOs tokens issuance using ERC20 or ERC223-compliant frameworks. For the project founders, DAICOVO provides compilation, parameter setting, and deployment for free, allowing the projects to grow easily. For the investors, they get smart contracts which implement DAICO.

The second service provided is the Icovo App. This is a smartphone app which features a wallet optimized for ICOs. This app is compatible with iOS and Android. It is a web and native hybrid app. This app includes a local wallet that can be used to manage ICO information as well as all tokens that are compliant with ERC20 or ERC223.

The third is Icovo Web. This is a website that lists ICOs so investors can read and decide which one they should invest in. Of course, not all of the ICOs will be put on the list. The website protects investors thoroughly as it only lists projects that comply with the platform’s requirements such as DAICOVO utilization, planner KYC/AML, as well as project’s progress disclosure. Others that don’t will be included on the list.

The fourth service is whitepaper versioning. All the whitepapers listed on the Web will be managed by IPFS. Due to this versioning, no one can tamper with the listed whitepapers later on. In case an investor loses or cannot download the whitepaper prior to ICO, they can use the platform to verify whether the project proceeds accordingly with the original whitepaper.

System Design

The system design consists of three elements: Icovo Web, App, and DAICOVO smart contract. The core of the system is the DAICOVO smart contract. The smart contract consists of four parts: a token contract, a pool contract, a sale contract, and a voting contract. These parts interact with each other, forming the DAICOVO system.

There are two modes in the system. Both of these modes protect the investors. One is the contribution mode and the other is voting mode. On one hand, the contribution mode allows investors to contribute to any project they want by buying tokens that are issued by the project. On the other hand, the voting mode allows the investors to vote whether a smart contract will be executed or not.

For 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

author:

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