What is ICOVO Project?

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What is ICOVO Project?

ICOVO is the world’s first and only ICO platform that can actualize healthy ICOs. 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. Each country’s government is advancing regulation in order to create a healthy environment for ICOs, but this is difficult to achieve for borderless ICOs using only centralized regulation. We will solve fraud and decrease in project motivation – the problems raised by ICOs – through the decentralized approach of DAICO.

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

ICOVO Problem:

Lack of a properly functioning and safe KYC / AML system;
The absence of a competent smart contract that regulates the issue of tokens;
Quite often the situation is observed when a team that has a good enough project cannot promote it competently without money for promotion, experience in raising funds for the ICO, consulting needs, and helping in collecting money.

ICOVO Solution:

Almost all depositors' problems are resolved in one way or another through the DAICO system: control over company activities, regulation of funds received by the team, possible return on investment - all this is possible thanks to the Icovo platform.

In addition, the team will not be able to change data in their documents after launching the ICO. White paper and other documents are stored securely in the Icovo. file system. While solutions for the team, here, as well as for investors, a key role is played by the implementation of the DAICO system, which significantly increases the credibility of the project.

The ICOVO team also provides free consultations on project launches, as well as affordable tariffs for conducting ICOs on their own basis - only $ 10,000.

How Does ICOVO Platform Work?

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.