Making crypto a better place one KICK at a time. Since its launch in 2017, KICKICO has been a pioneering force in improving and popularizing the ICO, bringing improved stability and security to an otherwise fraught fundraising instrument.
The results speak for themselves: KICKICO has helped to fund more than 35 successful startups, including big names like INS, Micromoney, Hacken, and Universa, and raised just shy of 800,000 ETH among them.
However, the successful cases are not the only ones KICKICO Platform has to work with. That is why our moderation team is always on duty to guard our backers from shady or malicious projects entering our platform. Our moderation team is as modest as they can be providing full support for the projects and guiding the authors to success.
Nevertheless, some projects refuse to follow our guidelines or comply with the platform policies and then go overboard with making complaining comments in our community by accusing us of not allowing them to pass the moderation.
That is why we would like to pinpoint a few “outstanding” cases that eventually turned out to be quite shady ones, but they claimed to be otherwise.
The first one was Banana Papa. The project was refused in passing the moderation, so the author went to complain about it into another group, where all the weak projects gathered and tried to help each other. The project didn’t have any comprehensible token economy, the documentation was really poor and quite questionable with the claims that didn’t have any real proof. Eventually, the project was listed on Acorn Collective (the link is not active now) and Indiegogo but, as far as we know, couldn’t get funded there either.
The second project was Stockus. The project was suspected to be involved with gambling so we asked to provide the legal opinion to prove the opposite in order to get passed the moderation and get listed on KICKICO. The author claimed that he had a counsel with Deloitte, but they couldn’t provide him with any documentation after it. He said he had the opinion made verbally. And we always know that such stories are just a load of bullocks.
During the following month and a half, the author kept on giving promises that he will prepare the required documents, and he already contacted Cyprian authorities directly to speed up the process.
He was very active in our chats, but at that moment his group contained few members. After a while, he couldn’t provide the legal opinion to prove the project is not gambling-related. So, next, he went on to accuse us of asking some irrelevant documentation from him thus making it hard for his project to launch. Basically, he started to show off publicly with creating a bad image about KICKICO while presenting himself as a victim.
We were really tolerant about such activity full of accusations for a long time and eventually banned him. This led to continued accusations of KICKICO from him in his groups, he even went on to filling his group with 60k+ bots, posted various announcements, promised the launch of the ICO and the project as soon as possible.
December 2018, we saw the last message from the project’s author, saying “Kick doesn’t allow normal projects like Stockus to launch”. His groups started to accumulate spam messages, which tells us that the project was abandoned since there was no real activity or admins present in the chat while the project’s website was quite dead with traffic too.
We checked the Stockus team during the moderation, and what we found out was that according to Linkedin team members were involved in the project not for a long time and it looked like they weren’t active in the team when they submitted the project to KICKICO.
Long story short, the project couldn’t attract the users' money and no one was hurt, which is a happy end in this case.
We decided to share these 2 cases with you since it should be known that while the crypto industry may be reckoned as a full-of-scams industry, KICKICO Platform is here to make things work again and make crypto safer and more reliable for all of you. Scams tend to present themselves really well these days and it is getting harder and harder to distinguish a decent project from a shady one. Of course, no one is perfect enough, but we try our best to protect the interests of our backers by filtering the projects before the listing.
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