In the last two years, cryptocurrencies’ distribution events have enabled decentralized platform developers to put up a significant portion of their tokens for investors at a discounted rate. The proceedings from the distribution events are used in development of the platform itself.
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The investors are attracted due to the potential of the tokens or coins gaining value over a period of time. The substantial increase in the market cap of the crypto-sphere within the last year, combined with a largely unregulated field has given people with malicious intent an unprecedented opportunity to cash in on the frenzy. There are a lot of scammers who execute distribution events, sell millions of coins and tokens to unsuspecting victims, which are never released and then skimp off with the collected money that leave the investors with nothing in their hands.
DAICO By CoinCrowd
CoinCrowd has developed a protocol of creating transparency and fairness to TGEs by bringing improvements in the current event models through adopting the concept of Decentralized Autonomous Organization, or DAO. This has led to the creation of Decentralized Autonomous ICO (DAICO).
Through the protocol, CoinCrowd ensures that each and every phase of the token distribution event of a token is completely managed through smart contracts and are also monitored closely throughout this entire process. The event is handled by the Milestone Control System, the actual protocol. It gives investors guarantees on the release of coins or tokens at a predetermined time or milestones. This means that tokens will be released and the chance of token development team running away with the money is exterminated.
CoinCrowd Wallet & Exchange
CoinCrowd offers a wallet and an exchange along with its transparency protocol. Using the best securities, the e-wallet is secured against hacks and all tokens invested by a user are automatically transferrable into the wallet.
The wallet is integrated into their CoinCrowd exchange. Every token distributed through the platform is automatically listed on the exchange, enabling instant trading by investors. As a decentralized exchange, it never requires users to give up their ownership of private keys, so the crypto assets are in their possession at all times.
XCC Token Event
Like Ethereum’s Ether, CoinCrowd uses its internal token, the XCC as a gas for the complete ecosystem. The token will power all the services of the platform and the fee generated will be used for token burning.
The token event will be ran according to their own set rules for DAICO, setting an example and pace for all future events. The event will start in June, with a total supply of 78,750,709 XCC and half of them set up for the event. The XCC will see a price of 0.43 Euro during the event with a hard cap of 15,000,000 EUR.
Through its protocol, CoinCrowd intends to reshape the TGE landscape that has received a lot of bad rep due to a few fraudulent activities. The platform hopes to change the image of tokens and their generation events going forward.
For more information on the TGE transparency protocol, visit CoinCrowd’s website: https://coincrowd.me/