ICOVO - The World’s First ICO Platform Implementing DAICO

tusharmali99 (25)in #ico • 6 years ago (edited)

What is ICOVO?

In order to achieve our mission of soundly cultivating ICOs into "the very core of the ecosystem necessary for hatching innovative blockchain-related startups" that will create the future, ICOVO must become a next-generation global standard for ICO platforms that is truly valuable to both innovative blockchain-related startups and ICO investors.

At the same time, we will make the ICOVO framework the global standard by proposing a new, centralized-decentralized hybrid management framework to central governments around the world currently seeking to develop healthy ICO environments through centralized methods

What is DAICO?

Proposed by Ethereum co-founder Vitalik Buterin on 6 January, 2018, a DAICO is a model that uses decentralized methods to prevent planners from dishonestly using funds raised through an ICO. In ICOs using tokens that conform to the ERC20 standard, smart contracts are used to limit the amount of funds raised that project founders can withdraw per unit of time, and if the project is canceled for whatever reason, the remaining funds can be returned to the ICO investors if a consensus is reached.

DAICOVO: Smart contracts implementing the DAICO model

In addition to the functions required by ICO project founders such as issuing, selling, and managing unique tokens, DAICOVO offers smart contracts optimized for ICOs adopting the DAICO model. For ICO project founders who use DAICOVO to do their ICO on ICOVO Web, all of the required work, including token design, DAICOVO parameter setting, compilation, and deployment, is free.*1 DAICOVO is already available as a open-source software. (https://github.com/icovo/DAICOVO)

ICOVO App: A smartphone app featuring a wallet optimized for ICOs

ICOVO's iOS/Android-compatible smartphone app(ICOVO Wallet in iOS and ICOVO Wallet PLUS in Android) is a native and web hybrid. It includes the world's first (as of January 2018) local wallet that can easily manage ICO list information and all ERC20/ERC223-compliant tokens. It is compatible with DAICOVO and comes with functions that allow project founders to easily draft and conduct voting on fund management.

Using the ICOVO App eliminates the need for project founders holding ICOs through ICOVO to develop new wallets or prepare third-party wallets for their tokens. It also uses its own dedicated KYC/AML photo uploader, which prevents tampering with passport photos and selfies. We designed it in conjunction with ICOVO Web, envisioning that ICO project whitepapers will be read on ICOVO Web and investment done through the ICOVO App, but the app is fully optimized for ICOs, offering everything from whitepaper viewing, KYC, token purchasing, and account management to drafting and voting related to fund management. Also, it has the interface for Decentralized Exchange(DEX) where users can trade their tokens.

ICOVO Web: An ICO listing site with thorough ICO investor protections

ICOVO Web is a website for ICO project founders to list their ICOs for investors. It thoroughly protects ICO investors and lists only ICO projects that comply with ICOVO requirements. The criteria for listing on ICOVO are the utilization of DAICOVO, planner KYC/AML as required by ICOVO, and disclosure of the progress of the project.

The biggest feature is whitepaper versioning using IPFS. All the whitepapers of ICO projects listed on ICOVO Web are managed by IPFS. Whitepaper versioning through IPFS storage makes it impossible to tamper with whitepapers later on. This means that even if investors fail to download the whitepaper before the ICO or lose it, they can always verify whether the project is proceeding according to the original whitepaper, and if it is not, they can draft and vote to have their money refunded.

The KYC required by ICOVO, which includes passport-based ID verification and AML, applies not only to the investors but also to the ICO project founders. Furthermore, in order to increase the transparency of ICO project activity, ICOVO shares the state of progress on the project by quantifying and displaying the project's use of GitHub, social media, and other major tools.

ICOVO also requires a uniform format for certain essential whitepaper items so that each ICO project founder's whitepaper can be read in a unified format. The ICOVO App is synchronized with the ICO list information and bookmark function so that ICO investors can achieve participation all in one place.

We also provide ICO project founders with a white-label dashboard for investors including a referral program, airdrop program, KYC/AML, and more

OVO: OVO tokens offering 25% off drafted project token purchases

ICO investors who use OVO to purchase tokens for projects drafted on the ICOVO platform get a 25% discount compared to using ETH. Because OVO is an exchange-listed token, its price fluctuates against ETH. For this reason, the rate for the 25% discount against ETH is set at whatever the rate is just before each drafted project's token sale begins (resulting in the discount rate continuing to fluctuate throughout the token sale). In addition, 30% of the amount raised by the planners is paid in OVO while the remaining 70% is paid in ETH.