ICOVO is a new ICO platform that targets the problem of projects stopping due to the lack of interest and motivation of the founders. In order to mitigate this problem, the platform will make use of the KYC/AML, DAICOVO, and IPFS.
The ICOVO platform will utilize the DAICOVO process as a means of protecting investors’ ICO investments. Even if the regulations becoming tighter, the ICO market was still able to reach up to $5.8 billion USD during the first quarter of 2018. It even surpassed the recorded market size of ICOs during the previous year which only reached 3.9 billion dollars.
Problem: Funds cannot be retrieved even when the ICO project is cancelled or left inactive.
Solution: DAICOVO allows users to control the funds and make a vote of confidence on the ICO project.
Problem: It is hard for many investors to distinguish scam ICO projects from legitimate ones.
Solution: ICOVO uses KYC-AML procedures and project progress as it means of judgement in identifying scam ICO projects
Since ICOVO will issue its own token –OVO– it can be directly used inside the ICO platform for payment and utility purposes. For payment options, investors are privileged to buy ICO project tokens with a 25% discount. The investors can also use it to pay for the other services offered by ICOVO. On the other hand, its utility function allows it to be used on voting rights for raising the amount that can be withdrawn per second is known as the Tap. It can also be a means of returning a procured fund to the investor who has invested it.