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RocketICO Begins Implementation of Bancor Protocol, Token Sale Will End on December 15

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by Eugenia Kovaliova · 3 min read
RocketICO Begins Implementation of Bancor Protocol, Token Sale Will End on December 15
Sasha Shuhayeu, COO at RocketICO, gives interview for Korean mass media. Photo: RocketICO / Twitter

The world’s first decentralized accelerator Rocket ICO adopts Bancor’s Smart Token protocol on its platform. The ICO is currently being held and will last until December 15, 2017.

Rocket ICO, the world’s first decentralized accelerator built on the principles of DAO, has recently announced its integration with Bancor in order to offer an innovative solution to support a high volume of diverse projects launched from the platform, and to encourage the creation of network effect between them. The ICO has started on November 1 and will last untill December 15.

Blockchain technology has already facilitated the working process in many areas. Such modern tools as Decentralized Autonomous Organization (DAO) and Initial Coin Offering (ICO) have contributed generating unique breakthrough projects, implementation of which was hard to imagine before. Unfortunately, for the reason of high complexity of these tools they are rarely implemented in those areas where it is really necessary. But the problem has a solution – Rocket ICO platform.

Rocket ICO is the world’s first startup accelerator based on the principles of DAO. The platform is designed to create a new ecosystem for the safe and more effective interaction between project teams, investors and experts in the context of creating and launching startup projects, as well as funding in cryptocurrency.

Today, the vast majority of projects raising giant funds via ICOs fail to succeed for the lack of support by a real working model and competence among the teams. With the help of Rocket ICO platform, projects can benefit from being available for interaction with the community at early stages as they might be able to receive the necessary funding from inside the platform therefore without the need to do an ICO, saving time and financial costs of preparing.

The platform flows all incoming proposals through the network of independent experts and select only valuable projects with a strong idea filtering short-lived startups and ICOs launched only for the purpose of quick profitmaking.

Bancor Protocol is designed to enable autonomous convertibility and formulaic price determination for tokens on smart contract blockchains. These Smart Tokens hold one or more “connector” tokens directly in their smart contracts. Anyone can buy or sell a Smart Token for any of its connector tokens at a continuously calculated price, according to a formula which balances buy and sell volumes. This enables Smart Tokens to be continuously liquid and easily convertible through any Web3 wallet.

With Bancor, Smart Token creators get turn-key solutions for their smart contracts as well as bounty and community management applications where token holders can discuss and follow relevant topics and updates. The Bancor Protocol provides a powerful liquidity solution for all such tokens which will be immediately and continuously convertible through the network following their distribution.

In terms of collaboration between Rocket ICO and Bancor, no additional commissions or fees will be listed for the member tokens. Due to formulaic pricing, the price volatility will decrease significantly. Futhermore, buy and sell prices will reach equivalence through the smart contract, excluding the possibility of spread. This solution to the liquidity challenge so many new tokens face will allow a wide variety of ideas and teams to flourish, and the entire blockchain industry to expand and progress.

Blockchain News, News, Token Sales
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