ICOVO PLATFORM : The World’s First ICO Platform Implementing DAICO

FEATURES OF ICOVO

Increase ICO Transparency and Protect Investors: They aim to protect ICO investors by introducing a fundraising management system andincreasing the transparency of ICO project founders as well as the projects themselves.

Decentralized Token Management
They will create DAICOVO, an original smart contract incorporating DAICO’s fundamental idea of decentralized token management. They will introduce a system that only allows withdrawals according to the capital demand of a project’s pre-loaded schedule through a Tap system (setting an amount that can be withdrawn per unit of time). This will prevent developers from running off with raised funds.
In the event that an investor notices a problem with the project, they are able to retract their investment that was raised under agreement as a refund.

Decentralized White Paper Versioning: Versioning for White Paper not to be tamperd is managed by InterPlanetary File System (IPFS).

Team Member KYC/AML:They will increase ICO project team member’s transparency by providing ICO project team member’s KYC/AML on ICOVO website in a centralized method.

Visualize Activity Situation: They will increase project transparency by quantifying social media activity and GitHub updates on ICOVO’s website.

Reduce Barriers for ICO Participation: Create a better investment environment and reduce barriers
to ICO participation by unifying the investment process and the format for information disclosure.

Implementing Local Wallet: Implementing a safe local wallet in ICOVO's original ICO-specialized smartphone app, the ICOVO App, helps with understanding the participation process for complicated token sales and managing tokens.

Unifying Formats: ICO project pages and summaries of whitepapers on ICOVO’s website presents information consicely, making it easier to understand for investors. Accessibility is enhanced by offering a summary of all the projects using the same format.

Reducing labor for KYC: Eliminate the need for ICO investors to do KYC each time they invest. When they participate in ICO project token sales on the ICOVO App, they perform KYC only once as ICOVO will share the information with the ICO project founders.

Increase Project Durability: Sustain project founders' motivation for product release and increase project durability by introducing a system in which project founders can only withdraw tokens according to their investment demand milestone.

Fund acquisition≠Goal: By introducing a system of original smart contracts implementing DAICOVO in which funds can only be withdrawn according to a project’s pre-loaded schedule by Tap (set an amount that can be withdrawn per unit of time), motivation to finish the project founders.

SYSTEM DESIGN

As previously mentioned, our system consists of three components; the DAICOVO smart contract, ICOVO Web, and the ICOVO App. The DAICOVO smart contract is the core of this system, and token holders will be able to interact with the smart contract through our applications. In this section, we will cover this system in detail.

The DAICOVO smart contract consists of mainly four smart contracts; a token contract, a token sale contract, a pool contract, and a voting contract (Figure 1). These independent modules interact with each other to form the DAICOVO system. In practice, these smart contracts start in "contribution mode" and transition to "voting mode". In the contribution mode, investors can contribute to a project by purchasing tokens to be issued. In the voting mode, they can exercise their voting rights over two options in a democratic manner; the smart contract will be executed when over half of the token holders come to an agreement. We will go over the specification for each mode in the following paragraphs

PROBLEMS AND SOLUTIONS

PROBLEMS AND SOLUTIONS
From the ICO investor perspective:

Problem: Even if the ICO project is canceled or frozen, funds are not returned.
Solution: Using DAICOVO makes refunding possible.

Problem: It is difficult to identify scam ICO projects.
Solution: KYC/AML and project progress disclosure as required by ICOVO can be used
as a guide for judgment.

Problem: A passport photographed for KYC can easily be falsified with photo editing software.
Solution: The ICOVO App's dedicated KYC/AML photo uploader prevents photo editing.

Problem: Different whitepaper formats make it difficult to compare ICO projects.
Solution: ICOVO Web provides the information common to all the projects in the same
format.

Problem: Whitepapers can be tampered with.
Solution: ICOVO Web uses Blockchain and IPFS to make it impossible to tamper with the
whitepaper, so you can always view the whitepaper published before the ICO
even if you didn't save it.

Problem: ICO investment has a high barrier to entry.
Solution: The ICOVO App is optimized for ICO tokens, so using it makes it easy to
participate in token sales and manage tokens.

Problem: It is difficult to draft and vote for things such as a DAICO refund.
Solution: The ICOVO App makes it easy to participate in drafting and voting on the
management of procured funds.

Thank you for reading.

To know more about this project, you can visit:

Website: https://icovo.co/
Whitepaper: https://icovo.co/whitepaper/wp_service_en.pdf
Telegram: https://t.me/icovoco
Facebook: https://www.facebook.com/icovoco/
Twitter: https://twitter.com/ICOVOCO
ANN Thread: https://bitcointalk.org/index.php?topic=4468796.msg40076110#msg40076110

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1956531

ETH Address: 0xAb5501225C2E6c0500d6bc5Aaf419a9D34b40EB0