3 Reasons Why You Better Choose
ICOVO Bounty Program
ICOVO is an ICO platform with an investor protection mechanism. It makes the ICO environment healthier by utilizing DAICOVO smart contracts, which implements the DAICO concept, and an ICO optimized Wallet, the ICOVO App.
People should choose projects with concepts or products that are a first in the world and relationships with influencers in the industry.
The ICOVO project is the world’s first project to implement the DAICO concept proposed by Vitalik Buterin, co-founder of Ethereum, to enable anyone and everyone to use DAICO through a user interface designed for easy usage by non-technical users.
People should choose projects not only with an idea but also with a complete product, or at least at the MVP stage or alpha version stage.
46% of the projects in 2018, Q1 only had ideas. Even if people have skills to come up with a great idea, nobody knows if they are capable of achieving it. ICOVO has a highly skilled development team, and already released commercial versions of their products.
| Idea | MVP | Alpha | Beta | |
|---|---|---|---|---|
| DAICOVO | Complete | Complete | Complete | Complete |
| ICOVO APP | Complete | Complete | Complete | Complete |
| ICOVO Web | Complete | Complete | On going |
People should choose projects that thinks carefully about token circulation control design, especially to decrease its circulation amount in the market.
Some tokens only have the functionality for substitution by Ethereum and Bitcoin. Those tokens have no demand from the market and its value will not increase. Some tokens will increase its supply amount by its nature, and those tokens tend to decrease its value.
OVO can be used for purchasing other tokens issued by projects on the ICOVO platform. At the rate of Ether on the market, OVO can be used as a 25% discount coupon. Investors prefer to use OVO over Ether when it comes to investing in projects on our platform. We applied the following 3 mechanisms to lower the OVO circulation amount.
- Hard Lockup
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52 million tokens that cannot be sold immediately.
Among the 200 million OVO tokens to be issued in total, 11 million tokens distributed to team members and contributors will be locked up for 1 year, and another 11 million for 2 years. Additionally, if 60 million tokens are sold during the closed sale, 50% or 30 million of those tokens will be locked up for 6 months, leading to a total of 52 million tokens that cannot be sold in the market immediately due to a hard lockup.
- Soft Lockup
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10% Free distribution of OVO tokens to token holders that hold on to OVO for 6 months or 1 year
For the 12 million OVO tokens issued for marketing purposes, token holders that hold on to them for over 6 months will be offered a 10% bonus of the amount retained. Another 14 million OVO are set aside for token holders that hold for over a year, where they will be offered a 10% bonus of the amount retained. These OVO tokens set aside for free distribution will be locked up until they are bestowed. At the same time, OVO token holders’ retention rate is expected to increase through free distribution of OVO tokens to token holders that hold on to OVO for 6 months or 1 year.
- OVO Tokens Locked Up Through DAICOVO
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OVO is locked in proportion to the number of project list increases on the ICOVO Platform.
The projects listed on the ICOVO platform can procure funds by accepting either ETH or OVO. The procured funds will be managed by DAICOVO and can be withdrawn by a preset tap (amount that can be withdrawn per second). Procured ETH will be withdrawn first and OVO will be later.
The mechanism is set up so that ETH shall be withdrawn first, and OVO can be withdrawn only after all ETH has been withdrawn. Thus, OVO will be locked up through DAICOVO to ensure it is not sold immediately on the market.