Place/Date: Italy - May 31st, 2018 at 8:55 pm UTC · 3 min read
Contact: Giulio Di Sano, Source: CoinCrowd
Motivated by the need to bring fairness into the market, the CoinCrowd’s team has been working for over a year on a technological infrastructure that will lead token sales towards a new standard, marking the start of new generation of token sale: The DAICO.
A DAICO It’s an improvement on the Token Sale model that incorporates certain aspects of DAO’s. The idea was suggested by Vitalik Buterin and is aimed at making Token Sales more secure by involving contributors in the initial project development process.
The CoinCrowd protocol allows an easy launch of DAICO’s utilizing a token sale platform with automatically generated smart contracts.
A Milestone Control System provides guarantees to token sale participants by releasing the coins collected only at the accomplishment of predefined milestones. At any time, token holders are able to vote for the refund of the contributed coins if they are not happy with the progress being made by developers.
The DAICO’s generated through the protocol, are automatically listed into the CoinCrowd decentralized exchange. The latter provides users with a safe place to trade by decentralizing critical processes like the management of private keys and the settlement of assets while allowing instant transactions through off-chain book orders and matching engine.
The exchange is integrated into a mobile/desktop wallet further ensuring accessibility to all users on a global scale.
The CoinCrowd Wallet provides a single tool to manage all the different phases of token sale participation and cryptocurrency management. It allows users to easily trade multiple coins, convert fiat currency and join token sales, finalizing KYC processes within the wallet.
It supports multiple accounts and it’s compatible with ENS, defined resolutions for Ethereum addresses. The wallet provides the best option in security with a combination of biometric ID and user pin access, with users being the sole owners of their private keys.
The CoinCrowd Token (XCC) works as the gas of the entire infrastructure. While the protocol is open sourced to facilitate a massive adoption, the fees generated by the exchange are used for token burning. This way, increasing adoption and decreasing supply put pressure on the value of remaining tokens, rewarding holders in the long run.
CoinCrowd’s team is comprised of passionate developers who have been working in the blockchain space for years, delivering working products to the users. After the release of the wallet in March, CoinCrowd is now releasing a prototype of the DAICO protocol, which will first be implemented in the CoinCrowd upcoming token sale, making it one of the world’s first DAICO
Disclaimer CoinCrowd is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high-risk tolerance. Only participate in a token event with what you can afford to lose. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.