Vitalik Buterin plans to improve ICOs with DAICO

The creator of Ethereum wants to use benefits of Decentralized Autonomous Organizations to make Initial Coin Offerings more responsible and democratized
07 January 2018   2331

On January 5th, Vitalik Buterin, the creator of Ethereum, posted a note under the name “Explanation of DAICOs” on the Ethereum Research forum, describing the ways of improving the ICO model by merging in some of the benefits of DAOs in a way that will minimize complexity and risk.

DAICO sketchDAICO sketch

As Vitalik states in the post, DAICO contract is published by a single development team that wishes to raise funds for a project. The DAICO contract starts off in “contribution mode”, specifying a mechanism by which anyone can contribute ETH to the contract, and get tokens in exchange. This could be a capped sale, an uncapped sale, a dutch auction, an interactive coin offering, a KYC’d sale with dynamic per-person caps, or whatever other mechanism the team chooses. Once the contribution period ends, the ability to contribute ETH stops, and the initial token balances are set; from there on the tokens can become tradeable.

If the voters are very unhappy with the development team’s progress, they can always vote to shut the DAICO down entirely and get their money back.
 

Vitalik Buterin

The creator of Ethereum also notes that DAICO has a mechanism through which token holders can vote on resolutions, which can be made either by raising the tap or by permanently self-destructing the contract.

KuCoin to Launch Spotlight IEO Platform

As reported by the KuCoin itself, information about the first tokensale will appear this week
21 March 2019   72

The KuCoin marketplace announced the launch of a platform for initial exchange offerings (IEO) called Spotlight.

The exchange's blog says that information about the first tokensale will appear this week. It is also known that tokens will be distributed according to the principle of first-come, first-served, that is, in the order of receipt of applications from investors. To purchase assets of new projects will use its own token exchange - KuCoin Shares (KCS).

In order to participate in the tokensale users will need to be verified. Some countries and regions will not be admitted to IEO on KuCoin.

After Binance conducted two extremely successful IEOs on the basis of its platform, BitTorrent and Fetch.ai, the analogue of Launchpad appeared on OKEx. Soon, Bittrex International announced the launch of its own IEO platform.