May 21st, 2018 at 3:19 pm UTC · 3 min read
The new crowdsale model, being tagged DICO which stands for Decentralized ICO, is an innovation in crypto crowdfunding, developed by Komodo Platform. The DICO uses a mechanism of wallet-to-wallet trading known as Atomic Swaps.
Dubbed “Transparent Crowdsale” due to the absence of centralized token control or smart contracts, Utrum is selling their OOT directly from their project wallet at a locked-in ICO price live on the Komodo’s decentralized exchange BarterDex.
Thanks to this decentralized approach, the metrics from pre-sale buys hitting the BarterDex exchange triggered CoinMarketCap’s system, resulting in the OOT token being listed in record time.
Shortly after launching their pre-sale, Utrum released a “grandma-friendly” dApp to its whitelist members. The dICO dApp allows a user to login directly to their KMD wallet and buy OOT direct from Utrum’s wallet at the real-time ICO price using KMD, BTC or LTC
Both BarterDex and the Utrum DICO dApp are released on github for users to verify the authenticity and security of the code.
John Westbrook, Marketing Lead at Utrum, comments:
“A DICO is removing the centralized layers we’ve seen in cryptocurrency crowdfunding, no smart contracts, no central authority controlling tokens or when tokens will be released to investors. This is an innovation that puts control and security back in the hands of the user and calls back to the original Bitcoin whitepaper. The Transparent Crowdsale model is delivering a solution for totally transparent and direct trades of cross-blockchain tokens between individuals…our wallet to yours…”
Utrum is the second project in the world to utilize this model and the project has raised 45% of their Soft Cap as of May 16 from their DICO and a Private Sale to SuperNet, a 10,000 BTC Crypto Investment Fund.
Utrum built their blockchain from a fork of the Komodo blockchain and their token OOT is considered an Asset Token, meaning it can be stored on a valid KMD wallet, similar to how ERC20 tokens can be sent to an ETH address.
The Utrum Blockchain is considered one of the most secure in the world due to how it is notarized, being “backed up” to Komodo, which in turn is “backed up” to Bitcoin Blockchain.
According to John Westbrook of Utrum,
“Utrum is a platform being built to help establish a trusted community for crypto investors, newbies, developers and projects to connect and find clarity in a very chaotic, fraud-ridden space. We believe trust is our most valuable currency and trust, transparency, it begins with us.”
Prior to the pre-sale, Utrum published a “Transparency Report” which outlines in detail the locking of their OOT tokens per their whitepaper and budget, along with links to their Cayman Islands Foundation corporate papers. Included in this report is a video of the live process of locking their funds and wallet addresses of all funds.
Utrum’s pre-sale DICO is LIVE until May 20th, after which they will conduct their Public DICO from May 21st until June 20, 2018. At the start of Utrum OOT’s public sale, Komodo Platform is soft-launching HyperDex, the next iteration of the GUI/Front-end for the BarterDex exchange.
HyperDex is the fastest, most user-friendly DEX to hit Cryptocurrency yet. Users who download at soft launch will be able to instantly test it out in the Utrum public crowdsale.