Massive KickICO reboot
We promised a great 2021. Here’s another reason to think it’s true!
KickICO enters the era of the crypto renaissance along with the sounds of an alt season. Like the entire cryptocurrency market, we not only survived the “crypto winter”, but also became much stronger. Our team has carried out such a large-scale project update that we can safely speak not of a “restart”, but of KickICO 4.0!
Back in the day, KickICO took off in 2017, offering a completely new crowdfunding mechanic for the time. During the ICO boom, the platform helped over 35 startups raise 800,000 ETH with the support of over 70,000 backers. Nowadays, crowdfunding is, among other things, a way for founders to raise funds without going through venture capital. Considering the constant growth of interest, both from founders and backers, Kick Ecosystem should always be on the cutting edge of the market, improve the effectiveness of outdated methods and suggest new ones. We also insist on that the future of the industry is inextricably linked to emerging technologies, especially blockchain and cryptocurrency.
In 2016, we started with the idea of creating a platform that would open up wider possibilities for interoperability between backers and founders of ICOs that would be suitable for the purpose of using capital. For more than 4 years from a thought form, our idea has grown into a working project with an audience of over 1.5 million people.
We are now in the final stages of work on Kick Ecosystem. Our goal is to change the logic of how founders and backers meet each other and exchange value. Including how tokens and project funds are offered, bought and distributed. KickICO 4.0 solves today’s problems and sets the vector for the development of the industry for the next cycles.
We would like to remind you that KickICO creates a single platform for running various companies that are modern and checkable for the presence of potential to be able to work. Campaign operators also undergo an inspection, including their “service list”. When transferring funds to the use of any campaign, the investor will receive a proportional number of tokens. In addition, we are looking for reliable ideas for startups and want to provide them with a safe and convenient space for the projects and crypto backers both.
The essence of the restart
So, what’s new? Everything!
First of all, the mechanics of crowdfunding have changed. Now projects, instead of just selling their tokens in the form of a crowdsale, are holding a kind of auction. During this auction, backers bid and the platform automatically distributes funds. At the same time, the auction is updated every day.
The campaign is scheduled for 30 days, 3,000,000 tokens must be distributed during the campaign. In this case, during each “trading day”, 100,000 tokens are distributed.
The process of buying or selling tokens involves exchange mechanisms, the security and reliability of which are ensured by smart contracts. Both creators and backers now have more opportunities for profitable exchanges.
When creating a campaign, its author can select the type of campaign and, depending on the latter, its certain parameters:
For regular campaigns:
— The total number of tokens distributed during the campaign.
— What to do with tokens not distributed during the “trading day”:
- carry over to the next day;
- burn (not available for a campaign with the STO type).
— The maximum number of tokens that one backer can purchase — the limit can be set by the campaign author so that all tokens do not go to one auction participant.
— Countries from which users can participate in the auction.
For campaigns with the STO type:
— Whether to use the auction to sell tokens.
— The minimum and maximum token price (for campaigns with the STO type). This is important as a fixed price is indicated in the prospectus for the sale of securities. For STO, this parameter is extremely important, since not tokens are sold, but securities.
— For all types of campaigns, the maximum token price cannot be higher than: (hard cap / token amount) * 10. At the same time, it is displayed for all types of campaigns, and edited — only for campaigns with the STO type.
The auction works within the framework of the KickEX mechanics, applications for the purchase of tokens work like exchange market orders. The auction service provides KickEX with aggregate data on active auctions scheduled to start for the next N days to display auctions in a separate “Tokensales” tab.
After the start of the campaign, the auction lasts for one “trading day” — the period of time from the start of accepting applications for the purchase of the next lot (tokens) until the moment of their distribution. The time span is a day from the start. A platform user wishing to purchase campaign tokens (backer) sees a list of current applications for the purchase of tokens and can create his own. After that, the system conducts a series of checks and places the backer in the distribution list, which is executed at the time of distribution.
We can talk a lot about the capabilities of the platform and the technical aspects of its implementation, but… It’s better to see once than read the announcement a hundred times. Therefore, we will simply leave you a link and urge you to subscribe to our blog if you have not already done it. More details and interesting mechanics are ahead.
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