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The legendary Bull Run 2017 is still not forgotten in the cryptocurrency community. Bitcoin, the most popular cryptocurrency, was $ 1000 at the beginning of the year, but at the end of almost $ 13,000, a 13-fold return. So many low-cap crypto-currencies have generated an even higher return on investment. Although investing in ICOs was considered much riskier by most companies, most of them produced returns of hundreds of multiples.
When something is called a risky investment in the cryptocurrency market for a good reason, it is better to believe it and be very careful if investors in one of the most volatile asset classes in the world do it. This is mainly due to the fact that there have been and will be so many scam scams that can be attributed to the lack of regulation in many countries. Some never deliver what they promise because once they have got the funds, they are not incentivized to work on the project. Only a few are easy to spot as exit scams, most overestimate the abilities of their teams and fail to meet deadlines or deliver at all.
That is why one is perfectly entitled to ask: How does their use of the funds, in whole or in part, justify themselves if they can not keep the promises themselves?
At the beginning of 2018, Vitalik Buterin proposed an improvement on how to raise funds for blockchain projects, namely the offers of decentralized autonomous initial parts or DAICO. A DAICO is essentially a decentralized version of your old standard ICO, but it now imposes honesty on the founders through the use of smart contracts. ICOVO is a project that follows Buterin's vision of making OICs more transparent, secure and accessible to investors.
ICOVO can be conceived as the marriage of three different products. The first product, DAICOVO, is the implementation by ICOVO of the DAICO idea of Buterin. Each ICO project will have to meet certain standards, such as the use of DAICOVO smart contracts, to be listed on the ICOVO platform.
The second product, ICOVO App, is all that an investor on his smartphone needs to invest in ICOs listed in ICOVO. It will feature everything a person needs to invest in a project such as KYC / AML procedures, whitelisting, and viewing the white paper. It comes with a portfolio compatible with Ethereum and ERC-20 chips, which allows the investor to not use other devices or applications to participate in sales and store tokens. A decentralized exchange will allow users to exchange their chips, making ICOVO App a unique solution.
The latest product is ICOVO Web, an ICO website. Any project will be invited to complete the ICOVO requirements to be listed on the site, including the use of DAICOVO. The result may be a website with fewer projects on the same list, a tool called white paper version is presented as the most important feature of this product. All white papers will be stored by IPFS, ensuring no falsification or modification without the investor's knowledge. In addition, in this case, users of the platform will have the opportunity to recover their investments.
Token
The main argument of the token is that the use of OVO chips to invest in ICOs gives a 50% discount. The reader should note that there is no need to use OVO to participate in the ICO listed in the platform, and he can use ETH instead. Given this, it might be more accurate to think that the main product is the platform, not the token.
Anyone intending to participate in ICOVO ICO must be aware that a 40% bonus is available to contributors prior to the sale and that only half of the bonus tokens awarded to investors for sale are blocked. The price offered to investors for this closed sale stage is not public. With the fact that about a third of the team chips and contributors will be unlocked immediately, the token indicators do not look good. The second third will be released after six months and the rest after twelve months.
The total initial offer of OVO is 200 million chips with the following chip distribution:
- 17% of team members and contributors
- 23% marketing
- 30% closed sale
- 30% in advance and crowd selling
The team plans to use the proceeds from the sale of chips as follows.
- 3% working capital
- 5% development capital
- 10% advertising and advertising
- 72% of marketing capital
- 10% of the team members and contributors
Team
CTO Yoshikazu Nishimura: Nishimura was a senior consultant at Oracle.
Chief Financial Officer Oliver Gomm: Gomm is a former Relationship Manager with Man Investments, an active investment management firm.
Verdict
Below is a breakdown of the risks and growth potential of ICOVO.
Risks
- Since almost all features can be used without OVO chips, there are not just a few reasons to have them. (-1.5)
- The team seems too ambitious, it plans to have in the future a mobile wallet, a decentralized exchange and a platform DAICO. Given the size of the team, it would be best if they focus solely on the implementation of DAICO. (-1)
Growth potential
- Any successful implementation of DAICO would certainly be huge. (+4)
- Due to the strict requirements to be on the platform, almost all projects will be reliable. (2)
Disposition
Initial coin offers are an extremely risky part of the cryptocurrency market. Although investments in strong projects can generate high returns, the investor should always be cautious. The implementation of DAICO by ICOVO aims to control the behavior of the project's founders by automatically limiting their freedom on project tokens, thus guaranteeing the protection of investors. However, investing in ICO seems questionable because of the lack of cases of actual use of OVO tokens and poor token indicators. It may be best to wait for the release of the ICOVO platform, which could lead to more reliable investment and management. ICOVO receives a 3.5/10.
Details of the investment
- Type: ERC20 – Utility
- symbol: OVO
- Platform: Ethereum
- Crowdsale: November, 1stst
- Minimum investment: $ 50
- Price: $ 0.3
- Hard plug: 60 360 ETH
- Payments accepted: ETH
- Restricted to participate: Unspecified
For more information
Image presented with the kind permission of Shutterstock.
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